SINGAPORE, July 31, 2017 /PRNewswire/ -- New Asia Holdings Inc (OTCQB: NAHD), today provided an update to the market on the current status of its business operations and guidance for the year.
On August 25th, 2015, NAHD completed the acquisition of Magdallen Quant Pte Ltd ("MQL") and MQL became a wholly-owned subsidiary of the Company. MQL is a company incorporated and based in Singapore involved in the research, development and deployment of advanced, proprietary, state-of-the-art, trainable trading algorithms. Dr. Lin Kok Peng, NAHD's Chairman and CEO, stated…." the Company's focus is to capitalize the dynamism of the 24 hours Forex markets to achieve capital appreciation over a medium to long term combined with the usage of a good wealth vehicle in order to control risk and to profit from both bull or bear markets, maximize liquidity and economic resilience; essentially to provide clients with recession-proof wealth management solutions."
The Algorithms were placed into commercial operation in November 2015 upon the execution of a Software Licensing Agreement for the deployment of MQL's proprietary trainable, trading algorithms with New Asia Momentum Limited (NAML) as identified in the company's prior filings.
Throughout 2016 NAML grew its Assets Under Management (AUM) from zero to approximately $2.5 million and exhibited average monthly returns of approximately 10.5% for its clients. During this period, MQL has continued to make improvements to its original algorithm product-lines:
- Series X Pound/Dollar
- Series Y Pound/Dollar
- Series Z Multi-Asset Currency and Gold
Specifically, and to support NAML's decision to expand into the Regulated Fund and Bank model, the Series Z (Multi-Asset Currency) have been improved and redeveloped into the following products:
In January, 2017, the Company's licensee, NAML, entered into an agreement with Ferrell Asset Management Pte Ltd, (FAMPL), a wholly-owned subsidiary of Ferrell Financial Group, which started as an exempt fund manager in 2004, holds a Capital Markets Services License issued by the Monetary Authority of Singapore (MAS) for the provision of fund management services to individuals who are accredited investors ("Accredited Investors") as defined in Section 4A(1)(a)(i) of the Securities and Futures Act (Chapter 289) of Singapore. The Ferrell Financial Group is an Asia-focused financial services group dedicated to serving the investment and wealth management needs of family offices and private individuals globally. As an independent, privately held group, Ferrell forms strategic partnerships with financial institutions and other relevant organizations to provide customized portfolio solutions for its clients. In January, 2017, FAMPL launched "Fueris Fund" to exclusively utilize the Company's algorithm products. The Company expects that the AUM for Fueris Fund will be in the range of approximately USD 6 to 10 million. The Company expects to receive license fees based on the performance of the algorithms on the basis of a 20% Performance Fee. Fueris Fund is projecting annual returns of approximately 16% for its clients.
Dr Lin Kok Peng stated, "Our acquisition of Magdallen Quant Pte Ltd has already demonstrated proven results in the performance of its proprietary trainable trading algorithms, achieving for its clients average monthly returns of approximately 10.5% of its Assets Under Management throughout 2016. Since the middle of 2016, we began to focus on improving our product-line of algorithms and working closely with our licensee, NAML, to expand our business in terms of new strategic partnerships and AUM." Dr. Lin further stated, "…with the expansion into the regulated fund market through the Fueris Fund, we will effectively quadruple our AUM and we are extremely confident that our proprietary algorithm products will continue to achieve impressive results that will translate to continuing growth of AUM, service and licensing fees."
Dr. Lin further stated that the Company is finalizing partnerships with a Hong Kong-based regulated Fund Management Firm and a Singapore-based fund management firm, "these partnerships have recently commenced a six-month testing phase, each with approximately $1,000,000 in AUM. The funds will exclusively utilize the Company's algorithm products to enact trades on the above-mentioned AUM." The Company expects that, after the successful testing phase, the AUM for each of these partnerships will be increased to the range of approximately $ 5 to $10 million. The Company expects to receive performance fees based on the performance of the algorithms on the basis of a negotiated percentage of profits. Dr. Lin stated that the Company is projecting annual returns of approximately 16% for these clients.
For more information, please contact:
New Asia Holdings Inc
60 Paya Lebar Road
12-08 Paya Lebar Square, Lobby 1
Safe Harbor Statement: Certain statements and information included in this release may constitute "forward-looking statements" as defined in the Federal Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied in such statements. Additional discussion of factors that could cause actual results to differ materially from management's projections, estimates and expectations is contained in the Company's SEC filings. The Company assumes no obligation to update any forward-looking statements as a result of new information, future events or developments, except as required by federal securities laws.