NG Kok Song
Founding Partner
Chairman

Kok Song is Avanda Investment Management’s Co-founder and Chairman.

Prior to co-founding Avanda, Kok Song was Chief Investment Officer of GIC, where he completed a 42-year career in the investment of Singapore’s foreign reserves. Before joining GIC in 1986, Mr. Ng was at the Ministry of Finance (1970-71) and the Monetary Authority of Singapore (1972-1986). The Singapore Government awarded him the Meritorious Service Medal in 2012.

During his 27-year career at GIC, Kok Song was instrumental in building GIC’s in-house capability for managing global equities, fixed-income investments and currencies, and for sourcing external managers. He led GIC in navigating several financial crises including the October 1987 market decline, the 1998 Asian currency crisis, the dot-com bust of 2001 and the 2008 global financial crisis.

Kok Song served on the board of directors of the Singapore Exchange (SGX) from 2013-2018. From 1983 to 1987, he was the founding Chairman of Singapore International Monetary Exchange which was incorporated into SGX as its derivatives arm. For his contribution to the global futures industry, the Futures Industry Association inducted him into the Futures Hall of Fame in 2009.

Kok Song is Chairman Emeritus of the Wealth Management Institute at the Nanyang Technological University, having been Chairman Emeritus since 2017. In 2013, the CFA Institute conferred on him the Thomas L Hansberger Award for Leadership in the global investment profession. He is on the CFA Institute’s Advisory Council for the “Future of Finance” project, a long-term global effort to shape a trustworthy financial industry that better serves society.

Kok Song was a member of the Strategic Committee of Agency France Tresor from 2001-2014. The Government of France conferred on him the “La Croix de Chevalier de la Legion d’Honneur” and “Officer de l’ordre National du Merite”. He is on the board of directors of 65 Entity Partners Holding Pte Ltd, and on PIMCO’s Global Advisory board. He also serves on the board of governors of the Asia School of Business in Malaysia, and serves on the board of governors of the Lee Kuan Yew School of Public Policy at the National University of Singapore.

Kok Song graduated in Physics from the University of Singapore and in Management from Stanford University.


Michael Teo
Partner
Co- Chief Executive Officer and Chief Operating Officer

Michael is Partner, Chief Operating Officer and co-Chief Executive Officer at Avanda Investment Management Pte. Ltd. (“Avanda”).

Prior to joining Avanda, Michael was Managing Director and Head of Operations for Asia Pacific in Barclays, responsible for the Investment Bank, Wealth and Corporate Bank Operations in Asia. He was also Global Head of Utilities Services (Reconciliations, MIS and Data). After joining Barclays in 2007, he assumed responsibility for Fixed Income, Currency and Commodities Operations in Asia Pacific. He served as Head of Operations for the regional branches in Asia and Chief Operating Officer for the firm’s International Business Centre in Singapore and played a key role in building up Singapore as an operations hub for Barclays globally.

Michael started his career in the financial industry in 1994 when he joined JP Morgan, where he spent about 13 years in a variety of middle office and operations functions. He was Head of Technology and Operations for the bank’s Asia Pacific branches and Chief Operating Officer for JP Morgan in Seoul before being appointed Head of Operations for Credit, Rates, FX and Commodities in the Asia Pacific region, as well as Chief Operating Officer for JP Morgan’s Singapore office. Throughout his career at JP Morgan, Michael was instrumental in driving the set-up of new businesses and offices, as well as leading the merger and integration of JP Morgan, Chase Manhattan and Jardine Fleming in Korea. He has also held various positions in New York and Brussels. Currently, Michael also serves on the Board of Trustees of NTUC-U Care Fund.

In 2014, Michael was conferred the title of “IBF Fellow” by the Institute of Banking and Finance in the Technology and Operations segment in Singapore.

Michael graduated from the National University of Singapore with a BA (Economics and Political Science).


CHAN Chun Hong
Partner
Co-Chief Executive Officer and Head of External Managers 

Chun Hong is Partner, co-Chief Executive Officer and Head of External Managers at Avanda Investment Management. As co-CEO, Chun Hong has joint responsibility in managing and leading the firm. He also serves as co-Portfolio Manager for Avanda’s multi-asset mandates. 

Prior to joining Avanda, Chun Hong was a Managing Director and Head of the Real Return Program Division at GIC where he began his career in 1999 as a portfolio manager.

He graduated with a Bachelor of Economics degree from Osaka University in Japan and completed his MSc in Financial Engineering from the Nanyang Technological University. Chun Hong is a CFA and CAIA charterholder.


WEE Ai Ning
Partner
Chief Investment Officer
 

Ai Ning is Chief Investment Officer at Avanda.

Prior to joining Avanda, Ai Ning was Chief Investment Officer of AIA Investment Management Pte. Ltd. She was responsible for AIA IM's investments in public and private market asset classes globally. She was Group Chief Investment Officer of Great Eastern Life Assurance, and a board director of its subsidiary companies. She was Chief Executive Officer and portfolio manager at Tudor Capital Singapore (part of Tudor Investment Corporation). She developed most of her career with GIC, where she headed the Strategic Cross Asset Investment Group, the Treasury and Currency Management Group, as well as portfolio management and research roles in the Fixed Income, Foreign Exchange and Economic and Strategic Departments.

Ai Ning serves as a member of each of the PUB and Singapore University of Social Sciences (SUSS) Board of Trustees. She is also a member of the Ministry of Home Affairs Uniform Services (HUS) Invest Board of Trustees and Investment Committee. She is a member of the Investment Committee of Wealth Management Institute (WMI) and Ministry of Health Holdings (MOHH), and chairs the Audit Committee of Singapore Hospice Council (SHC).

 Ai Ning graduated from Monash University Australia in 1990 and she is also a CFA charterholder.

Richard CHAN
Partner
Head, Equities

Richard Chan is Partner and Head, Equities.  He has oversight of Avanda’s equity strategies and he is the portfolio manager for the Avanda Asia Vantage Fund.

Richard Chan was a Managing Director and Head of Asia Pacific Equities in GIC. In addition to leading the Asian equities investment team, Richard also directly managed a regional Asian equities portfolio since 2002. At the corporate level, he led the Vietnam Interest Group and was a member of the China Business Group.

As Head of Asia Pacific Equities from 2008 to 2015, Richard led a team of analysts and portfolio managers responsible for managing GIC’s Pan Asia Equities portfolio. He became an equities portfolio manager for the Asia Pacific region in GIC from 2002. At various points, he had primary coverage for India, Korea, Malaysia and China before he was appointed Head of the team. Richard was the lead portfolio manager for China when GIC was granted the Qualified Foreign Institutional Investor (QFII) license to invest in A-shares in 2005.

Richard joined GIC in 1994 as an Investment Officer and spent 6 years with the Foreign Exchange Department, including 2 years in GIC’s London office. During that time, he was active in G7 currencies prior to the introduction of the Euro, and in Asian currencies after the Asian Financial Crisis. He was also a founding member of the Currency Quantitative Group where he developed and implemented a systematic FX trading model.

Richard graduated with a Bachelor of Business (First Class honours) from Nanyang Technological University in 1994. He earned an MBA from Columbia University in 2002 and attended the Stanford Executive Program in 2013. He is a CFA charterholder.


Teresa Koh
Partner
Chief Financial Officer

Teresa Koh is Partner and Chief Financial Officer at Avanda.

Prior to joining Avanda, she held the position of Chief Operating Officer for Barclays Bank Asia & Global Utilities Operations, where she was responsible for financial management, strategic planning, cost planning, and operational governance. Teresa joined Barclays Singapore in 2008 as a Director and played a key role in building up the Singapore office as the operations hub for Barclays global businesses. She managed the Foreign Exchange and Commodities Operations in Asia to support the regional and global businesses before moving to the role of Chief Operating Officer.

Before joining Barclays, Teresa spent a decade at JP Morgan Singapore in Operations and Finance, where she covered functions ranging from Trading and Sales Middle Office support to Financial Control and Analysis across the Regional Investment Banking Fixed Income, Currency, Commodities and Exotics Products businesses.

Teresa graduated with a Bachelor of Accountancy from Nanyang Technological University in 1996.


Doris Lai
Partner
General Counsel and Compliance Manager

Doris is Partner and serves concurrently as General Counsel and Compliance Manager at Avanda.

Prior to joining Avanda, Doris was Senior Vice President in the legal team at CapitaLand where she was, inter alia, company secretary and legal advisor to the managers of SGX listed REITs – Ascott Residence Trust and CapitaCommercial Trust.

Doris started her legal career practicing law in the litigation departments of Messrs Lee & Lee and subsequently Messrs Wong Partnership, where she handled mainly corporate and commercial disputes for a number of key corporate clients. In 1999, Doris left practice and joined the in-house legal team of EDB Investments Pte Ltd (EDBI) as Assistant Manager, Legal, handling venture capital and other investments both in Singapore and overseas. She later joined the legal team of the GIC as Assistant General Counsel, where she assumed primary responsibility for global legal support to GIC Special Investment Pte Ltd (GICSI) – the private equity investment arm of GIC – which allowed her to participate in multiple key funds and direct investments of GICSI.

In 2008, Doris returned to practice and joined Sidley Austin LLP’s Singapore office as Counsel in its Investments Funds, Advisors and Derivatives/M&A & Private Equity team. In this role, Doris advised a wide range of clients including China Investment Corporation in their fund management activities.

Doris graduated from the Faculty of Law, National University of Singapore (1994).


Ang Shih-Yang
Partner
Head of Asset Allocation

Shih-Yang is Partner and Head of Asset Allocation at Avanda.

From 2012 to 2014, Shih-Yang served as the Financial Investment Adviser to the Minister of Finance, Timor-Leste. He was appointed to support the Minister in overseeing the management of the Petroleum Fund, the nation’s sovereign wealth fund. This included assisting the Investment Advisory Board in developing the Fund’s Strategic Asset Allocation, reviewing the Fund’s governance structure, and developing and guiding the Petroleum Fund Administration Unit within the Ministry of Finance.

In 2003, Shih-Yang joined GIC as an Equity Risk Analyst. He spent 8 years in the Risk and Performance Department and left the GIC as Vice-President in the Investment Risk and Performance division. During his time in GIC, Shih-Yang developed risk allocation tools, expanded the capabilities of the equity portfolio management system and was a key member of a multi-asset risk information infrastructure project.

Shih-Yang graduated with a Bachelor of Science in Industrial Engineering from Purdue University and a Masters in Management Science and Engineering from Stanford University.