Singapore Hedge Fund APS Says Founder to Step Down as CIO

APS Asset Management Pte founder Kok-Hoi Wong is preparing to step down as chief investment officer of the Singapore-based hedge fund in the coming year.

APS’s current Head of Investment Strategy Wang Kangning will become co-CIO and replace Wong within a year, the firm said in a note to clients. The company manages $1.7 billion across all its strategies, according to a spokesman, and Wong said he will continue to manage money, write analysis and conduct research trips to China.