Fund Awards 2021 14 Wealth & Finance International - 2021 Fund Awards APR2w2 GAO Capital is a Singapore registered and regulated fund manager with 3 funds under Singapore’s new Variable Capital Company (VCC) structure. The firm is led by a team of investment professionals that have combined decades of investment experience across numerous asset classes and geographies to develop superior risk-adjusted funds that they themselves would invest in. The ASV Fund was the first to be launched by GAO Capital under the VCC structure and is a long-only public equities fund that invests in mispriced stocks primarily in the Asia Pacific ex-Japan region. Kenneth Yap is the Portfolio Manager for the ASV Fund and has most of his own wealth invested in the fund. The team at GAO Capital are also invested in the various funds, ensuring that there is alignment of interest between investors and the principals at the firm. Kenneth has over 20 years of investing in equities, spanning Europe and Asia, buy-side and sell-side GAO Capital launched the ASV Fund in July 2020 in the midst of the pandemic. The ASV Fund has had a flying start, returning 82% in its first year. Asian Asset Manager of the Year & Best Offshore Long-Only Equities Fund: GAO Capital ASV Fund roles. He qualified as an Associate Chartered Accountant (ICAEW) in London after graduating with a B.A in Economics & Management from the University of Oxford where he was a recipient of the British High Commissioners’ Chevening Award. In his interview after winning the Asian Asset Manager of the Year & Best Offshore Long-Only Equities Fund awards, Kenneth says, “The ASV (Always Seek Value) Fund has had a flying start, returning 82% in net USD terms in the first 12 months of the fund’s life. The ASV Fund is also up 42% in the first 9 months of 2021, whereas the benchmark MSCI AC Asia Pacific ex-Japan has fallen 4% this year. We have leveraged on our 20 years of experience in equity markets to take advantage of the various mispricing opportunities that have arisen post the Coronavirus pandemic”. The ASV Fund uses a unique investment philosophy of paying attention to industry cycles in order to find asymmetric risk/ reward opportunities, using a systematic investment process that aims GAO Capital Sep21593 to be consistent and removes human bias, and focusing on valuations to provide a margin of safety. Kenneth believes that the ASV fund “will continue to deliver relative outperformance to the benchmark over the medium and long-term, so long as we hold firm to the investment principles underlying the fund. Focusing on first principles means that the fund can take advantage of mispricings regardless of geography, sector or economic conditions. The aim is to minimise biases and stay true to the goal of compounding wealth over the long-term.” Contact: Kenneth Yap ([email protected]) Company: GAO Capital Web Address: Chauwei Yak, Founder and CEO Yongjie Yi, Chief Risk Officer Kenneth Yap, Fund Manager ASV Fund