Value Partners reaps rewards of a carefully cultivated discipline
Mon Jan 17, 2011
What began for its founders as a ‘hobby shop’ turned into a $7.8 billion fund management firm, and exactly where Value Partners is today is thanks to a solid bottom-up stock-picking philosophy
When Cheah Cheng Hye and V-Nee Yeh co-founded Value Partners in 1993 with assets under management of less than $5 million and one portfolio, the Value Partners ‘A’ Fund, they never imagined that their ‘temple of value investing’ would grow to become a $7.8 billion-strong fund management company with a stable of nine funds and a 28-strong investment team and more than 100 staff.
“In the beginning, both V-Nee and I looked upon the business as a kind of ‘hobby shop’ for us to indulge our passion for value investing,” recalls Cheah.
“There were only two full-time employees – a secretary and I [V-Nee only worked part-time for Value Partners]. We never really thought the firm would grow big – it was enough that it gave us a platform for a wonderful and intellectually stimulating hobby.”
But Hong Kong-based Value Partners’ bottom-up stock-picking investment style turned out to...
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