In the News: Interview with the Fund Manager of ZDR Investments SG VCC
Joseph Ong, Executive Director and Co-Founder of EuroAsia Asset Management, was invited to the Breakfast Showwith Emaad Akhtar and Audrey Siek on MoneyFM 89.3 to discuss investment opportunities for Singaporean investors amid today’s volatile market conditions. Along with the recording, we’re sharing the complete transcription of the interview.
MoneyFM 89.3: Before founding Euro Asia Asset Management, you were a portfolio manager at Swiss-Asia Financial Services and held leadership roles, including COO at Dektos Investment Corporation. What inspired you to take the leap and start your own investment firm?
Joseph Ong: I’ve always been a single-track person, focused on commerce and business administration from a young age. Initially, I was involved in real asset management, not financial assets. An opportunity came when a university friend invited me to join his investment firm. That’s when I moved from a comfortable management position in real estate and hospitality to financial asset management.
MoneyFM 89.3: At Euro Asia Asset Management, you’ve carved out a unique niche bridging Asian and European markets. Why this particular focus? What opportunities does it offer investors?
Joseph Ong: We believe there’s a significant knowledge gap between investors in Europe and Asia. My partner, Karol Piovarcsy, is based in Central Eastern Europe, while I’m in Southeast Asia. We see opportunities that markets on both sides aren’t fully aware of. Bridging this knowledge gap creates a unique niche we can comfortably fill, including opportunities in real estate, private equity, and macro fund trading.
MoneyFM 89.3: Can you walk us through the actual process of setting up an investment fund from scratch?
Joseph Ong: It involves significant due diligence, financial analysis, and understanding investor needs—considering their investment horizons and risk appetites. Then, creating a fund prospectus aligned with investor profiles and ensuring compliance with strong regulatory frameworks, especially here in Singapore.
Emaad Akhtar, Joseph Ong and Audrey Siek
MoneyFM 89.3: Raising capital is another challenge. How did you initially raise funds for Euro Asia Asset Management?
Joseph Ong: Initially, credibility is the main challenge. Early funding typically comes from ourselves, family, and friends. Over time, as you demonstrate positive returns, investors become more confident and reinvest, helping accelerate fund growth.
MoneyFM 89.3: Could you specify the fund services Euro Asia offers and sectors you focus on?
Joseph Ong: We offer bespoke fund solutions tailored to our investors’ needs and risk profiles. A highlight is our flagship fund, ZDR Investments, a European-based real estate fund focused on retail parks. It’s defensive in nature, offering stable annual returns of around 8-10%, insulated from volatility typical of public markets.
MoneyFM 89.3: How are you preparing your strategies amidst current global uncertainties like tariffs and market volatility?
Joseph Ong: Since last year, we’ve shifted to a market-neutral approach. We’ve reduced our equity positions significantly, avoiding recent market downturns. We focus now on defensive and arbitrage strategies that aren’t correlated with market movements, helping us and our investors sleep better at night.
MoneyFM 89.3: Is there a minimum capital requirement for accessing your funds? Are you expanding accessibility beyond high-net-worth individuals?
Joseph Ong: Currently, ZDR Investments has a minimum ticket size of EUR 100,000, accessible primarily to accredited investors. However, we’re exploring possibilities such as an IPO to offer retail investors eventual access.
MoneyFM 89.3: What strategies or asset classes should investors consider during volatile markets?
Joseph Ong: We recommend market-neutral portfolios and alternative assets like ZDR Investments, offering stable returns and insulation from market volatility. Additionally, diversification into currencies like the euro provides further stability.
MoneyFM 89.3: Sustainability and ESG investments have become important. Can you share an example of ESG-aligned investment success?
Joseph Ong: ZDR Investments incorporates ESG principles, particularly by installing solar panels on European retail parks. This generates income from green energy, supplementing rental income and boosting overall fund performance.
MoneyFM 89.3: Reflecting on your entrepreneurial journey, is there anything you wish you had done differently?
Joseph Ong: I prefer not to dwell on past mistakes but use them constructively. Learning from experiences helps refine future strategies rather than regretting past decisions.
MoneyFM 89.3: Many of our listeners are retail investors. What common mistakes do you see them making, and how can they avoid them?
Joseph Ong: Greed is common. Buying late into rising markets and selling during downturns. Investors should do thorough due diligence and financial analysis rather than blindly following trends or influencers.
MoneyFM 89.3: Are there any overlooked market opportunities you see?
Joseph Ong: Diversification into gold and euro-based investments is attractive now, especially as currency markets shift and traditional safe havens become less reliable.
MoneyFM 89.3: How does Singapore fit into your regional strategy, and what unique investment opportunities do you see in ASEAN markets?
Joseph Ong: ASEAN is growing as a manufacturing hub outside China, mitigating tariff impacts. ASEAN markets are poised to benefit from this trend significantly in the next decade.
MoneyFM 89.3: Joseph, thank you so much for sharing your insights with us today.
Joseph Ong: Thank you. It was my pleasure.
