CHAPTER 12: The Accidental Value Investor

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Cheah Cheng Hye

Value Partners Group

The unexamined life is not worth living.

Socrates

Cheah Cheng Hye co-founded Value Partners Limited in 1993. Based in Hong Kong, the asset management company has a mandate to seek underfollowed and out-of-favor investment opportunities in the Asia–Pacific region. Currently serving as chairman and co-chief investment officer, Cheah is responsible for the company’s various investment funds and its overall business direction.

Voted among the most influential individuals in the investment business by a number of business magazines, including AsianInvestor and FinanceAsia, Cheah is well on the way to meeting his objective of transforming Value Partners into a world-class investment firm. His dual mission is to introduce and to promote value investing in Asia by constructing an investment process by which ordinary investment teams can achieve extraordinary investment results. The company motto is “Investing through discipline.”

The largest asset management company in Asia, with $7.2 billion in total assets under management, Value Partners is also one of only two investment companies listed on a stock exchange in the region. Its flagship fund, Value Partners Classic Fund (A Units), saw a total return of 1,756.4 percent, or 16.9 percent per annum, from inception in April 1993 to December 2011. Its benchmark ...

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