Avanda eyes 15% returns with Discovery Fund targeting Singapore stocks
Fund to focus on severely undervalued stocks, turnaround companies and ‘local champions’ with long-term promise
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[SINGAPORE] Local fund manager Avanda Investment Management is targeting an absolute return of up to 15 per cent for its newly launched Avanda Singapore Discovery Fund over the next three to five years.
The fund, which comes under the Monetary Authority of Singapore’s S$5 billion Equity Market Development Programme (EQDP), began operations on Oct 1 and will be overseen by partner and head of equities Richard Chan alongside portfolio manager Sherman Lim.
Chan had previously led the Asia-Pacific equities team at GIC from 2008 to 2015 while Lim was an investment analyst at Newlands Investment Management before joining Avanda in 2022. Avanda is co-founded by former GIC chief investment officer and former presidential hopeful Ng Kok Song.
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