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APS sticks to alpha hunting guns

Founder and CIO Wong Kok Hoi recalls how the company bounced back from the lemon years of 2005-2007, proving its critics wrong in the process

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THE REALIST: "Empirical evidence showed that the best economists more often get their forecasts wrong. We asked ourselves a question: Do we really have the skill set to make a macro forecast?"

APS Asset Management is a thriving homegrown fund manager, with assets under management of nearly US$3 billion. But there were precarious moments between 2005 and 2007 when founder and chief investment officer Wong Kok Hoi stared down the abyss. At a time when global and Asian markets scaled new