We offer two investment strategies to our clients: Asia ex-Japan small cap (smaller companies) equities and Asia ex-Japan systematic equities. We also offer bespoke quantitative design services on an advisory basis.
We consider that Asia ex-Japan equity markets are not consistently efficient and that an investment process utilising fundamental research and quantitative analytical tools can deliver a better return and risk outcome over time compared to regional equity benchmarks.
The firm is incorporated in Singapore and regulated by the Monetary Authority of Singapore. The firm holds a Capital Markets Services Licence.
The firm was founded in 2007 in Singapore by Richard Firth who observed an opportunity for an independent specialist firm to manage Asia ex-Japan small cap (smaller companies) portfolios.
The Firth Asian Smaller Companies strategy was launched in 2008. A second strategy, Firth Asian Systematic Equities was launched in 2016 as a consequence of quantitative research conducted by Hamish Macalister. In 2019 Firth began accepting clients for quantitative design services on an advisory basis.
Richard FirthChief Executive, Chief Investment Officer
Richard has been in the fund management industry since 1987, invested in Asian equities since 1993 and lived in Asia since 1998. During an 18-year career at Schroders, Richard performed various fund management roles in the firms London, Hong Kong, Seoul and Singapore offices. These included managing a Korean equity country fund from 1995 to 2005, managing a corporate restructuring fund sponsored by the Korean government, Chief Investment Officer of Schroders Korea, and launching and managing the Schroder Asian Smaller Companies Fund in 2005. Richard has a Bachelor of Science degree in Financial Economics from Birkbeck College, London University, and is a Regular Member of the CFA Institute.
Germaine ChiaChief Operating Officer
Germaine joined our firm as Chief Operating Officer in 2016. She started her career with KPMG in Singapore and after qualifying as a Certified Public Accountant in 2004, she joined Citigroup in London as an Internal Auditor for the global markets business. From 2007 – 2016 she held a number of regional roles at Citi Private Bank for their investments business, latterly as a Product Manager for Mutual Funds and Segregated Managed Account portfolios, responsible for the global distribution of investment products. She graduated from Nanyang Technological University (Singapore) and is a Chartered Accountant (Singapore).
Dr. Hamish MacalisterChief Data Scientist, Deputy CIO
Hamish is the Chief Data Scientist and Deputy CIO for Firth Investment Management. Prior to joining Firth, Hamish was Head of Research for Maiora Asset Management, Head of Asia-Pacific Quantitative Strategy for both Deutsche Asset Management and Deutsche Global Markets and Head of Australian Strategy for Citigroup. Hamish also holds an Adjunct Faculty position at Singapore Management University, teaching a component of the Master of Science degree in Financial Engineering. Hamish has a Doctor of Philosophy degree in Finance, a First Class Master’s degree in Economics and a Bachelor’s degree in Accounting and Finance.
Piang Sze ChuaResearch analyst
Piang Sze started her career in the investment management industry in 1995. She worked for Schroders from 2004 until 2012 during which time she spent two years as Richard Firth’s assistant on the Asian Smaller Companies Fund. Earlier in her career she was a regional economist at Standard Chartered Bank and DBS Securities and a stock analyst also at DBS. Her experience ranges from analysing Asian small cap listed companies to private equity and project management opportunities across a range of sectors and countries. She joined Firth Investment Management in 2014. Piang Sze graduated from Nanyang Technological University in 1992 with a degree in Business (Banking and Insurance) and is fluent in Mandarin Chinese.