DBS manager to set up own bond fund

Lim Heong-Chye, manager of Singapore''s largest mutual fund, is leaving DBS Asset Management.

DBS Asset Management is losing a star fund manager. Lim Heong-Chye, managing director, will leave the firm in mid-August, along with portfolio managers Chan Cheh-Shin and Lucas Yeoh. Sources believe he intends to set up his own fixed-income asset management company.

Lim is best known in Singapore for managing the Shenton Income Fund, taking its assets under management from around S$100 million $59.23 million upon joining the firm in 2001 to S$1.2 billion today, making it...

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