Activist investing – the practice of buying a significant minority stake in a company before launching a public campaign for management to rapidly alter its strategy or board – is generally associated with the United States. As investors become more global, activist investing activity can be expected to increase in Asia, including Hong Kong. Mr Wong will share the results of his recent research, “Empirical Evidence for Shareholder Activism in Hong Kong: A Report on 50 Activist Campaigns in the past 12 Years”, which suggests that activist investing is already more common in Hong Kong than is popularly recognised.
We invite Frank Wong, Partner at First Class Management to discuss.
Mr. Wong is a Partner at First Class Management (FCM), a boutique private investment partnership in Hong Kong. Mr. Wong entered the investment industry at the age of 20. He started his career with a dealing role, and later stepped into brokerage and portfolio management roles. Prior to co-founding FCM, he worked as a portfolio manager with a special situations mandate at Caitong International Asset Management. Prior to Caitong, he had been with BOCOM International Securities, CITIC Securities and Grand Investments.
Mr. Wong has been investing actively before he entered the investment industry. At the age of 29, he acquired a majority stake in a liquidating ETF and worked with the manager to successfully execute the liquidation process. Mr. Wong is a firm believer in shareholder engagement and activism. He has continuously interacted with executives on corporate matters. He also has experience collaborating with billion-dollar hedge funds in local activism campaigns. His academic research on Hong Kong shareholder activism was presented at the 2016 Greater China Area Finance Conference (June 2016), and the Hong Kong Shareholder Engagement and Activism Conference (November 2016).
Mr. Wong holds his Master’s degree in Finance (First Class Honours) from University College Dublin. He also holds a Graduate Certificate in Applied Portfolio Management from NUS Business School, and a Professional Diploma in Insurance from VTC Hong Kong. He is a Certified International Investment Analyst (CIIA), and a Chartered Alternative Investment Analyst (CAIA).