DBS Asset Management is losing a star fund manager. Lim Heong-Chye, managing director, will leave the firm in mid-August, along with portfolio managers Chan Cheh-Shin and Lucas Yeoh. Sources believe he intends to set up his own fixed-income asset management company.
Lim is best known in Singapore for managing the Shenton Income Fund, taking its assets under management from around S$100 million $59.23 million upon joining the firm in 2001 to S$1.2 billion today, making it the largest home-grown open-ended mutual fund in the Lion City.
It has also consistently outperformed its peers in that timeframe. Four years ago, some 70% of the fund's holdings were in...
