24-09-2014, 03:34 PM
(24-09-2014, 11:01 AM)CityFarmer Wrote: I saw a advertisement in The Edge, by Teh Hooi Ling, from Aggregate Asset Management, for accredited and institutional investors.
The fund is one of the local ventures on quantitative approach, similar as Joel's magic formula. Base on my general exposure on quantitative approach, the expected return should be around 20%, includes fee.
I checked with the fund web site, www.aggregate.com.sg, the net NAV growth is approx 14% in 2013, with fee should be around 18%. I recalled from a previous interview of the fund founders, they intended to double the money in 5 years, net of fee. They had make it in 2013, and should be able to make it in 2014, base on the up-to-date performance.
Well, 2 years is a short time in value investing. We shall see...
Joel's 20 years (1988-2009) magic formula compounded growth rate was 24%, with total number of stock around 20-30 stocks. Aggregate Asset Management (AAM) has 200 stocks. Joel focused on US market, while AAM focused on 5 countries in the region. Both went for long-term approach, 3-5 years period.
Joel's info from this site (randomly by google) : http://www.oldschoolvalue.com/blog/inves...-investing
It may be a good topic for discussion, and I moved the thread to value investing sub-forum.
Thanks
For those interested, attached is the latest 6th quarterly Fund Manager's report from Aggregate and slides from a speech Teh Hooi Leng gave in June entitled "The 7 Myths and 8 Truths in Investing".