Peg vehicle scrap value to current COE premium

SMU Professor of Finance Melvyn Teo has written to Straits Times Forum regarding Transport Minister Lui Tuck Yew's proposals to vary the supply of certificates of entitlement (COEs). Prof Teo argues that “Setting strict limits on the amount of financing may be the simplest and most effective way to put the brakes on runaway COE premiums”. An excerpt of his letter appears in print; the full letter is available in ST Forum online.

The Straits Times, p A28

The Straits Times, p A28

Doric shuts flagship hedge fund to focus on small cap strategy

According to a study by SMU Professor of Finance Melvyn Teo, firms that launch many funds tend to underperform other firms by between 3 to 5 percent per year after adjusting for risk. This study was quoted along with Doric Capital Corp, one of Hong Kong's oldest hedge fund firms, to shut its decade-old Asia ex-Japan long/short equity fund and focus on managing its small-cap strategy. Launched in October 2001, the flagship Doric Focus Fund closed in January following a 28% loss in 2011 and assets were down to about $25 million from a peak of just over $350 million in 2006. Professor Teo is also the Director of the BNP Paribas Hedge Fund Centre at SMU.

Reuters
Reuters

Hsieh Fu Hua steps down as Temasek president

Hsieh Fu Hua has stepped down as president of Temasek Holdings. Professor Melvyn Teo felt that the slew of recent changes at Temasek was detrimental to the company.

TODAY, p1
TODAY, p1

The Straits Times, p A6
The Straits Times, p A6

Bloomberg (Oct 5)
Bloomberg (Oct 5)

Singapore Inc.'s losses pile up on UBS scandal

Responding to GIC's 6.7 billion Swiss franc loss as the biggest investor of UBS AG (UBSN), Professor of Finance Melvyn Teo said that “The sovereign wealth funds' investments in international financial firms have not panned out as well as they hoped”. “Whether GIC should continue to hold on to UBS, it really depends on going forward how will the management deal with all the current problems.”

Bloomberg

Bloomberg

UBS $2 bln loss to trigger investment bank retreat

New losses in UBS's investment bank risk scaring rich clients and prompting a further flight from its huge private bank. Professor of Finance Melvyn Teo describes the concern of the wealth management client and believes that quick proactive steps taken by UBS management to address the risk management problems can ensure minimal impact on their wealth management division.

Money Mind

Assoc. Prof Melvyn Teo, Director, BNP Paribas Hedge Fund Centre, SMU, shares his comments on the neutrality of research analysts' reports on Money Mind.

Ho Ching may step down in August: FT report

Temasek Holdings Chief executive and executive director Ho Ching may step down in August, according to Financial Times. Assoc Prof Melvyn Teo, director of BNP Paribas Hedge Fund Centre at SMU shares his insights. 

The Straits Times, p A8
The Straits Times, p A8

TODAY, p 3
TODAY, p 3

Channel NewsAsia
(Jun 9)
Channel NewsAsia
(Jun 9)

Singapore bourse, ASX submit merger plan

On the recent merger announcements between exchanges in the region, Assoc Prof Melvyn Teo said approval of those mergers will present steep competition for exchanges in Asia.

Temasek, GIC raise US$9.8 billion, the most among sovereign firms

Temasek Holdings and GIC raised about US$9.9 billion from international investors over the past year, selling more debt and equity than any other state investment firm. Associate Professor Melvyn Teo says “it's a way up for them to take advantage of investment opportunities now, despite not having a lot of ammunition to do so.”

Asian hedge funds have to play catch-up

Experts say Asian hedge funds still have a way to go to catch up with their counterparts in the West but there are huge growth opportunities in the region. They were speaking at the annual Hedge Fund Symposium organised by the BNP Paribas Hedge Fund Centre at the Singapore Management University.

The Straits Times, p B25
The Straits Times, p B25

The Business Times Weekend, p 6 (Nov 27-28)
The Business Times Weekend, p 6 (Nov 27-28)

Temasek adds BoA top man to leadership team

SMU Associate Professor Melvyn Teo comments on the new appointment noting that the new group of presidents assisting Ms Ho Ching does give Temasek a bigger pool of senior managers to draw from if they need to do succession planning.

The Straits Times, p A12

The Straits Times, p A12

Bloomberg
(Aug 20)
Bloomberg
(Aug 20)

Temasek assets swell to new high

About 46 per cent of Temasek's allocation was focused in Asia, excluding Japan, and its most recent investment were in energy and resources. Melvyn Teo, director of the BNP Paribas Hedge Fund Centre at SMU, said: “Their strategy of staying invested during the crisis and re-allocating resources and capital more towards Asia and the emerging Asia has helped with the returns over the last financial year.”

UPDATE 1-PREVIEW-Temasek may show resources move, leadership plan

With S$172 billion in assets as of end-July 2009, Temasek could also reveal this month that it fared better in the year ended March 31 after assets fell 30 percent in the prior year as the global financial crisis struck. "Temasek's move to resources is consistent with its goal of catering to Asia's emerging middle class," said Melvyn Teo, director of the BNP Paribas Hedge Fund Centre at SMU.

Reuters
Reuters

Ex-SGX chief joins Temasek full-time

Temasek Holdings has appointed former Singapore Exchange (SGX) chief executive Hsieh Fu Hua as its president and executive director from Aug 1. It has also appointed Mr Dilhan Pillay Sandrasegara, currently managing partner of WongPartnership [and SMU Board of Trustee] as its new head of portfolio management from Oct 18. Associate Professor Melvyn Teo, director of BNP Paribas Hedge Fund Centre at SMU said that Temasek is at a crossroads and is trying to position itself for the road ahead.

The Straits Times, p A3 The Straits Times, p A3

Singapore to review and tighten regulation of private equity and hedge funds

Singapore will review rules for its investment management industry, including hedge-fund and private-equity managers, for the first time since it introduced incentives to lure alternative asset managers in 2002. Associate Professor Melvyn Teo, director at the BNP Paribas Hedge Fund Centre at the Singapore Management University says MAS is aware of the need to find the right balance.

USA: Opalesque launches CAMPUS video interview series with leading academics and hedge fund researchers

Opalesque's first CAMPUS series features Associate Professor of Finance Melvyn Teo, who is also Director of the BNP Paribas Hedge Fund Centre at SMU. In this series, he shares his findings that hedge funds charging lower than average performance fees tend to have a higher liquidity risk, which will translate into problems for investors, when they try to pull money out of the fund.

Ex-M.Stanley banker to step down as Temasek senior MD

Temasek Holdings said on Tuesday that Michael Dee, who was part of a drive to internationalise the fund, will remain in an advisory role as senior director until the year-end, but declined to give reasons for his departure. "It seems like the company is focusing its efforts on locally grown talent," said Associate Professor of Finance Melvyn Teo.

New Temasek investment company

Temasek Holdings has set up a wholly owned global investment company, Seatown Holdings, run by its chief strategist Charles Ong that will employ a variety of strategies investing in assets ranging from stocks to bonds. Associate Professor Melvyn Teo, who is Director of the BNP Paribas Hedge Fund Centre at SMU, notes that hedge funds would give Temasek a lot of flexibility in terms of the investment strategies.

TODAY, p B1
TODAY, p B1

my paper, p A23

Bloomberg
Bloomberg

BusinessWeek
BusinessWeek

Riley Paterson closes fund to investors after growth

Riley Paterson Investment Management Pte says it closed its Asian hedge fund to investors after assets under management swelled 15-fold to $300 million. Commenting on the move, [Assoc Prof] Melvyn Teo, who's Director of the BNP Paribas Hedge Fund Center at Singapore Management University says it's a sign that money is coming back into the industry.

Bloomberg

Bloomberg

Alignment a key issue for the future

Associate Professor Melvyn Teo discusses about SMU's research into hedge funds and how both fund managers and investors can help themselves get more of what they need from the relationship.

Chanos calls for smart, not more, regulation

Famed short-seller James Chanos believes that tighter regulation in place in Western economies will do little to solve fundamental problems in the markets. He was speaking via video-conference at the BNP Paribas Hedge Fund Centre at SMU's Hedge Funds Symposium.

The Business Times, p 7

The Business Times, p 7

GIC, Temasek cut stakes

Temasek Holdings and the Government of Singapore Investment Corporation have cut their stakes in India's second-biggest lender, ICICI Bank. SMU Associate Professor of Finance Melvyn Teo says this is more of a sector play than a region play, as Temasek is probably trying to reduce its exposure to financials.

TODAY, p B1-2

TODAY, p B1-2

Academic defends the use of hedge fund "gates"

According to Professor Melvyn Teo, Director of the BNP Paribas Hedge Fund Centre at SMU, “by erecting gates, hedge funds can prevent further flowinduced deterioration in fund performance. Gates are particularly helpful during a liquidity crunch.”

Ho still running Temasek's show, but for how long?

The leadership issue and questions about investment strategy at Temasek still cloud sovereign wealth fund's global image. Associate Professor of Finance Melvyn Teo said it might be good to have new leadership to inject new ideas and change direction.

Temasek review to bring leadership, strategy in focus

Melvyn Teo, Associate Professor of Finance at SMU, said it would be interesting to know what Temasek's risk management system is and how that has changed since 2008.

The ‘Chip' on S'pore's shoulders

Mr Charles 'Chip' Goodyear has bid farewell to Temasek Holdings but Singaporeans are still interested in the issue. SMU Associate Professor Melvyn Teo noted that it may be in Temasek's best interest to provide greater disclosure as the sparse replies by Temasek has lead to unnecessary speculation.

The Straits Times, p A32-33

The Straits Times, p A32-33

Will perceptions change?

Analysts gave the thumbs-up to an updated charter that reiterates Temasek's commitment to commercial principles. SMU Associate Professor of Finance Melvyn Teo said Temasek wants to be viewed as an institution that has no political agenda and (one) that makes investment decisions solely based on financial considerations. But it can do so by being more selective of which foreign companies they invest in, including those with less political forces at work.

More stakeholders, more scrutiny?

Temasek Holdings yesterday revealed it was considering accepting money from the man in the street to make joint investments. Observers, puzzling over the plan's rationale, weighed the pros and cons. Melvyn Teo, associate professor of finance at SMU, talks about Temasek's decision.

TODAY, p 1&3

Bloomberg

Bloomberg

Ex-Lehman, GIC managers fuel Asia hedge-fund industry renewal

“This will be a renewal phase for the industry after the massive destruction last year,” said Associate Professor Melvyn Teo, director at the BNP Paribas Hedge Fund Centre at SMU.

Temasek sells Bank of America stake

Temasek Holdings has pulled out of its investment in Bank of America, selling its 3.8 per cent stake in the US group. The disclosure of the sale follows an announcement by Ho Ching, Temasek's chief executive, that the company is to cut its target for planned investments in developed economies and invest more in emerging markets. Associate Professor of Finance Melvyn Teo at SMU points out that the world no longer follows the lead of the United States. China's economy and consumer powers will become increasingly influential and Chinese bank stocks may even become more popular than US bank stocks.

The New Paper, p 6
(May 16)

Commercial Times
(May 16)

Bloomberg (May 15)

Bloomberg (May 15)

Show me the money | Looks can be deceptive, so beware

Speaking at a seminar jointly organised by Singapore's CFA Society and BNP Paribas Hedge Fund Centre [at SMU] , Mr Tan Chin Hwee, who heads Apollo Management (Singapore), outlined the framework used to evaluate companies' corporate governance risks.

The Business Times, p 33

Temasek's assets fell 31 pct amid market turmoil – gov

SMU Associate Professor of Finance Melvyn Teo said that Temasek's performance was not unexpected given its large holding of financial stocks and the huge decline in financial markets in recent months.

Galleon Hedge Fund names Frank Wong as Asia Chairman

Associate Professor Melvyn Teo, Director of the BNP Paribas Hedge Fund Centre at SMU commented that for some hedge funds, it is helpful to be nearer their investment markets because they need someone on the ground here to help them link with the industry.

Bloomberg

Hedge Funds

Mr Patrick Fauchier, Chairman of the Advisory Board for theBNP Paribas Hedge Fund Centre at SMU commented on the shake-up facing hedge funds in the financial recession.

Channel NewsAsia, Money Mind

Hedge fund investments

Associate Professor Melvyn Teo, Director of the BNP Paribas Hedge Fund Centre at SMU explains the risks involved in investing in hedge funds and what a retail investor should look out for when considering such an investment.

Channel NewsAsia, Cents & Sensibilities

STI sheds half its value in a year

Associate Professor Melvyn Teo, Director of the BNP Paribas Hedge Fund Centre at SMU commented that hedge funds will be holding quite a bit of cash at the moment, either in anticipation of redemptions or because there are fewer opportunities on the long side in the markets, at least for the short term.

The Straits Times, p B22

Will discouraging Hedge Fund Short-selling help?

Associate Professor Melvyn Teo, Director of BNP Paribas Hedge Fund Centre at SMU comments on the effectiveness of government efforts to curb hedge fund short selling practices.

Channel NewsAsia, Money Mind

Hedge funds in current economic downturn

Director of the BNP Paribas Hedge Fund Centre at SMU, Associate Professor Melvin Teo discusses the reality of hedge funds being hurt during economic downturn and says that growth will stall in the next few years.

Channel NewsAsia

Hedge funds

Associate Professor Melvyn Teo commented that hedge funds are popular because they are less correlated to traditional investments and can produce returns even if markets go down.

Channel NewsAsia

Investing in ways that are good for the environment

Associate Professor of Finance, Melvyn Teo, comments on socially responsible investing and green funds on CNA's Sense and Sensibilities .

Channel NewsAsia

Local knowledge gives hedge funds their edge

Dr Melvyn Teo, director of the BNP Paribas Hedge Fund Centre at SMU said that hedge funds with a regional presence outperform those without one by almost 4 per cent a year. He was speaking to more than 100 hedge fund managers at the first BNP Paribas Hedge Fund symposium held at SMU on Friday.

The Straits Times, p S30

Is it game over for hedge funds?

Assistant Professor Melvyn Teo, Director of the BNP Paribas Hedge Fund Centre at SMU, said that the day is not over for hedge funds but in fact, many have made money out of it.

21 Jul 2007

Asian hedge fundscan grow between 20% to 30%

A study by Assistant Professor Melvyn Teo shows that the risk of investing in new China hedge funds is not high.

Lianhe Zaobao, p 31

Lianhe Zaobao, p 31

18 Jul 2007

Hedge funds linked with Greater China are not as risky as might be thought, say a study commissioned by Fullerton Fund Management. The study was conducted by SMU on hedge funds investing in Emerging Asia – comprising Greater China and India.