|By Marketwired .||
|July 3, 2013 03:36 PM EDT||
SINGAPORE -- (Marketwired) -- 07/03/13 -- In the news release, "Cambridge Associates' Singapore Subsidiary Receives License to Provide Discretionary Portfolio Management Services," issued Tuesday, May 28, 2013 by Cambridge Associates, we are advised by the company that the amount of discretionary assets under management has been revised. Complete corrected text follows.
Cambridge Associates' Singapore Subsidiary Receives License to Provide Discretionary Portfolio Management Services
SINGAPORE -- May 28, 2013 -- Cambridge Associates, the global investment advisor to institutional and private clients, now offers discretionary portfolio management services from its Singapore affiliate. Cambridge Associates Asia Pte Ltd received the license to provide these services from the Monetary Authority of Singapore in April 2013.
Cambridge Associates has operated in the Asia-Pacific region since 2001, when it opened an office in Singapore to conduct on-the-ground manager research and provide independent investment advice to institutional investors. The firm now has four offices in the region -- two in Singapore and one each in Beijing, China and Sydney, Australia.
Globally, the firm has been providing discretionary portfolio management services for clients' assets since 2001 -- and now has discretion of more than US$8.1 billion.
Cambridge's investment management approach is highly customized and flexible. The firm designs and manages bespoke portfolios at the manager level that aim to achieve each client's unique investment objectives. The approach is distinctive as compared to fund-of-funds because it entails a custom fund structure (a "fund-of-one") for each investor. This allows for investors to be the beneficial owner of the underlying manager relationships in the fund, and if a different investment management option is sought, the portfolio will transfer intact.
"We are now better able to meet a need among investors in the Asia-Pacific by providing a discretionary solution that is a compelling alternative to funds-of-funds. While some clients will delegate decision-making authority across all asset classes, others will elect to use our discretionary services for only their alternative assets. We are able to take discretion for whichever part of the portfolio a client deems most appropriate," said Alvin Tay, Managing Director of Cambridge Associates Asia Pte Ltd. "Since our founding 40 years ago, we have made it our mission to help clients meet or exceed their investment objectives by working with clients in a way that best suits their needs. We are excited about expanding our discretionary services in the Asia-Pacific and providing investors in the region with another option to access our investment capabilities."
About Cambridge Associates
Founded in 1973, Cambridge Associates is a provider of investment services to institutional investors and private clients worldwide. Today the firm serves more than 950 global investors and delivers a range of services, including investment consulting, discretionary investment solutions, research and tools (Research Navigator(sm) and Benchmark Calculator), and performance monitoring, across asset classes. Cambridge Associates has more than 1,100 employees based in eight global offices in Arlington, VA; Boston; Dallas; Menlo Park, CA; London; Singapore; Sydney; and Beijing. Cambridge Associates consists of five global affiliates that are all under common ownership and control. For more information about Cambridge Associates, please visit www.cambridgeassociates.com.
Sommerfield Communications, Inc.