Hong Kong Boutique Fund Zeal Asset Management with $1.6 Billion AUM Founding Partners to Retire Before End of 2025, Announced to Return All Clients Capital & Exit Asset Management Industry, Founded by CIOs Jacky Choi, Daniel Poon & CEO Franco Ngan 15 Years Ago in 2009
8th November 2024 | Hong Kong
Hong Kong boutique fund Zeal Asset Management ($1.6 billion AUM) founding partners have announced to retire before the end of 2025, and to return all clients capital & exit the asset management industry. Zeal Asset Management was founded by CIOs Jacky Choi, Daniel Poon & CEO Franco Ngan 15 years ago in 2009. Announcement: “After a successful yet tumultuous journey since 2009, the founding partners of the firm have decided to start planning for retirement from the asset management business, tentatively taking place before the end of 2025. We’d like to take this opportunity to extend our deepest gratitude to our clients and business partners. Your unwavering support, trust, and collaboration have been the cornerstone of our success. As part of the preparation for retirement, we will restructure the Zeal Group, and the first step is to return all clients’ capital and exit the asset management industry. The capital that we voluntarily return to our investors globally is expected to be in excess of USD1.6 billion. Over the last decade and a half, we have proudly operated with healthy financials and remain so. Our exceptional team has led Zeal to achieve significant milestones, which include becoming one of the few Billion-USD hedge fund firms in Asia within just a few years from inception, our flagship retail product achieving meaningfully above average performance since launch, developing infrastructure to serve some of the most sophisticated global investors, and building retail presence in both Hong Kong and mainland China in cooperation with globally leading institutions. Finally, we cherish the memories we have created with you and look forward to continuing the many wonderful relationships built along our journey.”
“ Hong Kong Boutique Fund Zeal Asset Management with $1.6 Billion AUM Founding Partners to Retire Before End of 2025, Announced to Return All Clients Capital & Exit Asset Management Industry, Founded by CIOs Jacky Choi, Daniel Poon & CEO Franco Ngan 15 Years Ago in 2009 “
Zeal Asset Management Ltd. (“Zeal”) is a Hong Kong based asset management firm established in 2009. Through rigorous fundamental research and bottom-up stock picking, we strive to develop differentiated insight and exploit undiscovered investment opportunities in the Greater China market that deliver superior returns. Zeal manages capital for global investors, including sovereign wealth fund, private banks, fund of funds, family offices, as well as individual investors from Mainland China and Hong Kong. Zeal Asset Management Limited is a limited liability company incorporated in Hong Kong. Zeal Asset Management Limited is licensed by the Hong Kong Securities and Futures Commission to conduct Type 1 (Dealing in Securities), Type 4 (Advising on Securities) and Type 9 (Asset Management) regulated activities. Starting in 2020, Zeal became a signatory in the UN-supported PRI, committing to integrating ESG issues in investment analysis and investment decisions.
Jacky Choi, CIO – Mr. Choi has over 28 years of investment management experience. Prior to establishing Zeal, Mr. Choi was an Executive Director and Senior Fund Manager of Value Partners Group Ltd., where he held a prominent leadership role of investment and portfolio management, and managed a number of well-recognized award-winning funds. His tenure at Value Partners was between 1995 to 1999 and 2001 to 2008. During 1999 to 2001, he served as an analyst for Dresdner Kleinwort Benson. Mr. Choi has lead Zeal to win numerous awards, including accolades from AsiaHedge, AsianInvestor, Benchmark, Eurekahedge, Golden Bull, HFM, and Morningstar. Mr. Choi was named “Manager of the Year” under Greater China Equity Category in 2017 BENCHMARK Fund of the Year Awards. Mr. Choi attended University of Wales where he received his bachelor’s degree in Banking and Finance. He also earned a Master of Finance degree from the University of Lancaster, UK.
Daniel Poon, Managing Director & Deputy Chief Investment Officer – Mr. Poon has over 37 years of experience in the equity investment industry. Prior to establishing Zeal, he was a Senior Analyst at Buena Vista Fund Management Ltd. from 2005 to 2009. He was responsible for researching listed companies mainly in the Greater China region and making investment decisions for Buena Vista’s client portfolios. Since 1987, Mr. Poon has worked for many major financial institutions, including ABN AMRO, Deutsche Bank, HG Asia and UBS, where he held senior positions including Head of Asian Equity Sales and Head of Hong Kong / China Equities. Mr. Poon holds an MBA from The Chinese University of Hong Kong and a B.Sc. degree in Economics & Statistics from the University of Hong Kong.
Franco Ngan, CEO – Mr. Ngan has over 28 years of experience in the fund management industry. Prior to Zeal, he was the CEO and Executive Director of Value Partners Group Ltd., one of the largest hedge fund firms in Asia and a listed company on the Hong Kong Stock Exchange. During his tenure from 2004 to 2009 at Value Partners, he also held other roles including Chairman of Sensible Asset Management (wholly-owned subsidiary of Value Partners Group Ltd.) and Chairman of Development Partners Ltd. (joint-venture between the Dutch Development Bank FMO and Value Partners Group Ltd.). In addition, he was Chairman of Valuation Committee and a member of the Risk Management Committee of Value Partners Group Ltd. Before joining Value Partners, he served as Director of Sales and Distribution for Manulife Asset Management (Hong Kong). Prior to that, Mr. Ngan worked at Altamira Investment Services Inc. (Canada). Mr. Ngan served as a member of the Public Shareholder Group of the Securities and Futures Commission (SFC), advising the SFC on public policies related to securities markets and investor protection from 2007 to 2013. He was the Chairman of the China Committee of The Alternative Investment Management Association Hong Kong Chapter (AIMA HK) from 2010 to 2013 and had been an Executive Committee member of AIMA HK from 2008 to 2014. From 2020 to 2021, he was a member of Hong Kong’s Financial Services Development Council’s (FSDC) Working Group on Green Finance in the Greater Bay Area, and starting from 2021, he became a member of the Human Capital Committee under FSDC. From 2020 to 2022, Mr. Ngan was an Advisor and Council Member of Organizing Committee of The Institute of ESG & Benchmark Council. Mr. Ngan graduated from the University of British Columbia, Canada with a B.Comm in Finance and is a Chartered Financial Analyst (CFA) charterholder.
Hong Kong Boutique Fund Zeal Asset Management with $1.6 Billion AUM Founding Partners to Retire Before End of 2025, Announced to Return All Clients Capital & Exit Asset Management Industry, Founded by CIOs Jacky Choi, Daniel Poon & CEO Franco Ngan 15 Years Ago in 2009
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