We are Korea’s premier boutique investment management firm
providing bespoke investment services to some of the world’s largest and leading global institutional investors, including university
endowments, financial institutions, public pensions, family offices and accredited high net worth individuals. We are 100% owned by our employees and at the core of our firm’s principal is absolute integrity and a belief that our client’s interests come first. Everything we do is geared towards our client’s investment success.
Our name speaks to our investment philosophy. We want to be "Aligned," "Networked," "Dedicated" and "Agile," all in order to support our long–term relationships with our clients, our employees and other partners. We take pride not in the size of our AUM but the quality and the depth of trust investors have placed in our investment and business philosophy over the years.
The driving force behind our success has been our intense research-driven culture. We have built one of the largest research analyst pools among Korean advisory firms and believe that our in-depth research approach is unique in Korea.
The keys to our success are the same today as they were for me when I began managing money over 20 years ago: a focus on fundamental, bottom-up research, a consistent investment process, a commitment to generating superior long-term risk-adjusted returns and providing exceptional service to our clients across the globe.
Kevin Choi, Principal
Asia Concentrated The ANDA Asia Concentrated strategy seeks long-term capital appreciation through a portfolio of global equity and equity-linked securities with an Asia-bias. The key investment tenets are concentration, benchmark and style agnostic, and low portfolio turnover. The team scours the global equity universe in search of value creators, compounders, leaders and disruptors with the aim of investing in a selected group of companies that have strong and incentivized management, a long runway for growth, sustainable advantages and strong defensible moats. The process favors fast growing and innovative companies. The strategy is not limited or restricted by constraints such as investment style, geography, benchmarks, cash levels, or market exposure.Close
The ANDA Asia Growth strategy seeks long-term capital appreciation from investments in companies with a strong growth profile listed within the Pan-Asia (Ex-Japan, Ex-Korea) region. Although there is no limitation on the type of companies the fund can invest in, it is expected that the team will pay more attention to growth companies, especially companies which demonstrate market leadership within their industry and whose earnings are expected to grow at a faster pace than other companies. To identify whether a company is likely to sustain growth, the team focuses on a company’s business model, core competency, and the industry dynamics. Security selection is based on bottom-up fundamental analysis. Research is primarily conducted in-house, company visits and access to corporate management are important, with over 200 company visits on regular intervals with constant gap analysis conducted each year.Close
The ANDA Aisa Multi-Strategy seeks superior risk-adjusted returns with low volatility through an active management style focused on independent on the-the-ground research across the Pan-Asian (Ex-Japan) region. The Fund invests across multiple asset classes, consisting of four core strategies: equity value, convertibles, event-driven and special situations. Capital allocation is dynamic and is determined by evaluating what we believe are the best market opportunities consistent with the fund’s goal of producing stable compounded returns with less directional exposure to equity markets. Although quantitative screenings and analysis is used, the fund uses a fundamental, bottoms-up, research-based investment style across all of its core strategies. The Fund is not limited or restricted by constraints such as market cap, market direction, index relative performance or maximum cash level requirements and can therefore pursue value-added strategies with conviction.Close
Our financial analysts continue to be trained in the incorporation of ESG issues and where appropriate, we engage with management and participate in proxy voting. These responsibilities are incorporated into our investment process and are summarized in our Policy. Research notes include an ESG section and where available and appropriate, analyzes a company’s ESG performance.
We vote at AGMs, provide transparency over our voting recommendations and decisions and track the impact of engagement, which is recorded in our in-house database.
Whenever possible, our analysts actively engage with companies to encourage greater transparency and discuss collaborative initiatives to improve disclosure standards.
We will provide company research aimed at educating clients on socially responsible investments and collaborate with other investors to promote and develop ESG principles and practices.
We actively participate in industry networks such as the Institutional Shareholder Services (“ISS”) and the Korean Corporate Governance Service (“KCGS”) to effectively implement the PRI principles.
Click here for our latest UNPRI report.
ANDA Asset Management’s financial analysts are trained in the incorporation of ESG issues and we support the Code by engaging with management and actively advising on and participating in proxy voting. These responsibilities are incorporated into our investment process and summarized in our Policy. Our Policy is available here.
We have outlined our approach to managing conflicts of interest in ANDA’s Compliance Manual and ANDA’s Proxy Voting Policies, which are summarized in Part 2A of ANDA’s Form ADV. ANDA recognizes that there may be times when meeting agendas or proposals create a material conflict of interest or the appearance of a material conflict of interest. ANDA constantly strives to adhere to best industry practice to avoid conflicts of interest and to take these into consideration in the implementation of its management, investment and compliance policies.
ANDA takes an active approach in addressing corporate governance in fulfilling its fiduciary duties. Our analysts and portfolio managers regularly monitor the companies in which we invest by focusing on alignment of interests between the investee company’s management and shareholders. Continuous comprehensive research and engagement with investee companies are important characteristics of our investment philosophy. ANDA considers a variety of resources including company reports and press releases, third-party research, and independent proxy voting advisor reports and recommendations.
ANDA seeks to engage constructively with investee companies to ensure that they are pursuing the strategies and processes that reflect the best interest of shareholders. We conduct ongoing monitoring and aim to help promote long term sustainable growth. Additionally, we seek to enhance corporate governance at investee companies through proxy voting.
ANDA seeks to discharge its responsibilities under the Korea Stewardship Code by means of the implementation of a clearly defined voting policy, which is available here. We endeavor to take all reasonable steps to vote proxies in the best interests of clients, applying prevailing best practices, codes and standards of corporate governance. We disclose our voting activity to the extent required by the applicable regulatory authorities and provide our clients periodic updates on our voting activities as required in the respective client agreements or upon client request.
We keep records of our proxy voting activity. We disclose our voting activity as detailed in our statement regarding Principle 5, above. We also provide our clients periodic updates on our voting activities as required in the respective client agreements.
Our 2019 Proxy Voting and Company Engagement Report is available here.
ANDA’s investment team endeavors to develop an in-depth knowledge of investee companies. ANDA uses many external resources to deepen its knowledge of business and governance practices at investee companies, including daily market news, proxy voting research and external corporate governance sources. ANDA’s management team, comprised of its senior officers including certain portfolio managers, ultimately oversees the firm’s governance activities.