I am a fixed income/credit portfolio manager and analyst as well as a portfolio strategist with experience across global markets and asset classes, in particular Asia and Australasia. My investment philosophy is driven by fundamental relative value.  Analysis is driven both by macro factors as well as micro fundamentals.  I have an ability to see how macro events will play out very early and am able to get into a position reflecting such views before the markets prices in such risks. 

I have extensive experience in global credit analysis and interest rates.  I have also gained experience trading through the various crises that have hit global markets since the 1990s.  During my career, I have also picked up skills across products, ranging from credit to convertible bonds and foreign exchange.  

As a portfolio manager, risk management is key to maintaining portfolio performance as well as limiting downside. In a management role, risk management is essential to managing a team. Therefore, my knowledge and development of risk management tools are essential skills than I possess.

Part of my role includes marketing and liaising with investors and clients. I also pen commentaries on macroeconomic events and direction, along with research on markets and industries.

These skills have served well during in the past when I have generated double-digit returns with high Sharpe ratios for the firms I have been with.  I have generated these returns by focusing on mispricing of risk and asymmetric risk-reward structures.  I adopt relative value trades to generate these returns.  I do not follow consensus in general.  Rather, I focus on fundamentals and construct a portfolio that will ensure when these fundamentals come to fore, the rewards are significant.   

I am able to concisely present my ideas and analysis.

I believe that in the current global environment, focusing on just micro elements is no longer sufficient.  The global macro environment remains volatile and that volatility will likely increase.  And the macro environment will affect financial asset valuations, regardless of the micro fundamentals.   

In the last few years, I have been pursuing start-ups. Unfortunately, the results have not been optimal and I am looking to head back to an institutional framework.

I have attached my detailed employment history for clarification. 

I look forward to hearing from you soon.

Best Regards

Timothy Tan

Career Move HistorySchroders to UOB Asia : Team move. Working under same management.

UOB Asia to DBS : Looking for fixed income challenge. Covering European markets during post Enron, Worldcom crisis. Markets too far away and too difficult to manage due to time difference. Decided to shift to focus back on Asia.

DBS to Standard Bank HK: Moved to HK for change of environment and back Asia markets. Focused on Emerging Markets, and credit derivatives. Report to both local management as well as London product management. Gained significant exposure especially to structured derivatives.

Standard Bank to Bayerische Landesbank: Team move with Treasurer to manage a big credit book. Different challenge and a significant gain in fixed income and asset management experience.

Bayerische Landesbank to Oasis Capital Management: Head hunted by Oasis to manage credit risk and fixed income book. Made the move for a few reasons:

1. Bayerische Landesbank globally was not positioned for managing risk due to the forecasted subprime crisis. I managed the Asian book risk down to a small short position by the end of 2007, while the other money centers were expanding risk. It is a contrarian position vs the rest of the trading desks. Hong Kong had a record positive year in the credit book in 2008 as a result of the positioning.

2. Expected Hong Kong branch to close due to the likelihood of significant losses in Munich and New York (accurately predicted).

3. Oasis offered significant opportunities to take advantage of the different markets. With technology significantly improved since DBS, trading global markets no longer a handicap from HK.

Oasis Capital Management to Yuanta Securities: Oasis Capital’s key fund was closed due to redemptions. The fund performed well during the Great Financial Crisis, hence there was no gating. As a result, investors had to redeem from fund as other asset managers prevented redemption. As a result, the team at Oasis was disbanded.

Yuanta Securities was looking to start up a hedge fund internally in Hong Kong and I joined them to assist in the process. However as a result of internal politics, all progressive senior management in Taiwan were pushed out. Despite being the main profit generator in HK, the firm decided not to continue to pursue the strategy.

From Yuanta Securities to One Tree Partners: Post Yuanta, I joined One Tree Partners to help start up a fixed income/macro hedge fund as well as to provide direction in terms of global research. However, the difficult in raising capital and more importantly, a significant compliance issue with the seeding capital, which came from a high net worth individual which is a key client of the firm, led to operational issues with the fund. I left One Tree in Dec 2014 and have since taken a sabbatical while taking my time to find the right opportunity.