Value Partners

Value Partners is a Hong Kong-based asset management company and investment brand established in 1993 by Dato' Seri Cheah Cheng Hye and Yeh V-nee. It began as a boutique investment firm and developed into a regional asset manager serving institutional, intermediary and private-client investors. The firm presents value investing as its central philosophy, seeking to identify securities that it considers undervalued relative to their underlying businesses, assets or long-term prospects. The company is associated particularly with Asian and China-related investment capabilities. Its business has included the management and distribution of public funds, private funds and other investment products, with strategies spanning equities, fixed income and other asset classes where supported by its investment platform. Its client base is international, although Hong Kong and the broader Greater China region have remained important to the firm's identity and operating model. Value Partners expanded beyond its original Hong Kong base through offices in Beijing, Shanghai, Shenzhen, Singapore, Kuala Lumpur and London. This network supports research, portfolio management, client servicing and distribution across Asian and international markets. The firm has positioned its regional presence as an advantage for investors seeking access to China and other Asian markets, while also attempting to broaden the reach of its products among European and British investors. A major corporate milestone came in November 2007, when Value Partners became the first asset management firm listed on the Hong Kong Stock Exchange. Its stock trades under code 806 HK. Public-company status gave the business access to listed-market capital and visibility while subjecting it to the governance, disclosure and performance expectations associated with a Hong Kong-listed financial institution. The group has also adjusted its ownership and product structure over time. In 2015, it disposed of a 49% interest in Goldstate Capital Fund Management Co., Ltd. to a company associated with Yunnan Jiutian Investment Enterprises Ltd. In 2019, it launched an investment fund aimed at British and European investors after identifying increased demand for China-focused exposure in those markets. In June 2023, GF Securities announced an agreement to acquire a 20.2% stake in Value Partners, adding a significant strategic shareholder and potentially strengthening the relationship between the asset manager and a major Chinese securities firm. Value Partners received external recognition in 2018 when it appeared on Forbes Asia's Best Under A Billion list of top-performing public companies. It was no longer included on the list in 2019. The firm's current brand proposition remains centered on disciplined, research-led and valuation-conscious investing, with a regional heritage and a global distribution ambition.

Value Partners was founded in Hong Kong in 1993 by Dato' Seri Cheah Cheng Hye and Yeh V-nee. The business started as a boutique investment firm at a time when Hong Kong was becoming an increasingly important center for Asian capital markets and cross-border investment. From its inception, the firm adopted a value-investing orientation, emphasizing fundamental research and the search for securities whose market prices appeared below estimates of their long-term worth. The firm's early identity was closely tied to Hong Kong and Greater China, but its business developed with an international outlook. Value Partners built investment and client-facing capabilities in several Asian cities, including Beijing, Shanghai, Shenzhen, Singapore and Kuala Lumpur, and later established a presence in London. The geographic expansion allowed it to combine local and regional research with distribution to investors outside Asia. Its products and mandates have been directed at a range of clients, including institutions, intermediaries and private investors. A defining corporate turning point occurred in November 2007, when Value Partners was admitted to trading on the Hong Kong Stock Exchange under code 806 HK. It became the first asset management company to list on the exchange. The listing distinguished Value Partners from many privately held investment boutiques and made the group subject to the continuing reporting and governance requirements of a public company. The group subsequently managed its portfolio of businesses and strategic interests as the asset-management market evolved. In 2015, it sold a 49% equity interest in Goldstate Capital Fund Management Co., Ltd. to a company under Yunnan Jiutian Investment Enterprises Ltd. The transaction reduced Value Partners' ownership in that affiliate and formed part of the group's broader management of its business structure. International distribution became a more explicit priority during the late 2010s. In 2018, Value Partners was recognized on Forbes Asia's Best Under A Billion list, which highlights selected publicly traded companies based on performance criteria. The recognition did not continue into 2019. In the same period, external research cited in accounts of the company noted the difficulty Asian investment funds faced when competing for European assets. Against that backdrop, Value Partners launched a China-oriented fund for British and European investors in 2019, responding to increased demand for such exposure. The company remained associated with Asian asset management and value-oriented investment despite the changing market environment. Its operating footprint continued to include Hong Kong and mainland Chinese offices as well as locations in Southeast Asia and the United Kingdom. The combination of regional research, China-related investment capabilities and overseas distribution has been central to its brand proposition. In June 2023, GF Securities announced that it would acquire a 20.2% stake in Value Partners. The announcement represented a significant potential change in the shareholder structure of the listed asset manager and linked Value Partners more closely with a major Chinese securities group. The available reference material establishes the announcement but does not provide sufficient information here to confirm the final completion terms or subsequent governance changes. Value Partners is therefore best understood as an active, publicly listed Hong Kong asset manager with roots in boutique value investing. Its historical development has been shaped by regional expansion, public-market listing, selective changes to affiliated holdings, and efforts to distribute China and Asian investment products to a wider international client base.

• 2023

  GF Securities stake announcement

  [1]Value Partnersen.wikipedia.org

  GF Securities announces a proposed acquisition of a 20.2% stake in Value Partners.

• 2019

  European China-fund launch

  [1]Value Partnersen.wikipedia.org

  Value Partners launches a China-focused investment fund aimed at British and European investors.

• 2018

  Forbes Asia recognition

  [1]Value Partnersen.wikipedia.org

  Value Partners is included in Forbes Asia's Best Under A Billion list of public companies.

• 2015

  Disposal of Goldstate Capital interest

  [1]Value Partnersen.wikipedia.org

  The company disposes of a 49% equity interest in Goldstate Capital Fund Management Co., Ltd. to a company under Yunnan Jiutian Investment Enterprises Ltd.

• 2007

  Hong Kong listing

  [1]Value Partnersen.wikipedia.org

  Value Partners lists on the Hong Kong Stock Exchange under stock code 806 HK and becomes the first Hong Kong-listed asset management firm.

• 1993

  Value Partners is founded

  [1]Value Partnersen.wikipedia.org

  Dato' Seri Cheah Cheng Hye and Yeh V-nee establish Value Partners as a Hong Kong boutique investment firm.

A Hong Kong-rooted, research-driven asset manager positioned around value investing, Asian and China expertise, and international distribution.

• Equity funds

  Greater China and China equity funds

  These strategies provide managed exposure to companies and markets connected with mainland China, Hong Kong and the wider Greater China region. They reflect Value Partners' historical research base and its positioning as a specialist Asian investment manager. The range may be distributed to institutional, intermediary and private investors, although the precise fund names, mandates and availability vary by jurisdiction.

• Equity funds

  Asian equity strategies

  Value Partners' Asian equity capabilities extend its value-oriented investment approach beyond a single market. Portfolio construction is based on fundamental research and the assessment of business quality, valuation and long-term opportunity across Asian markets. These strategies support the firm's broader proposition for investors seeking regional rather than solely Hong Kong or China exposure.

• Fixed-income funds

  Fixed-income strategies

  The group also offers fixed-income investment capabilities within its asset-management platform. Such strategies are intended to provide professionally managed exposure to bonds and other income-producing securities, with portfolio decisions guided by research, risk controls and the relevant mandate. The supplied references do not specify individual fund names or launch dates.

• Internationally distributed investment fund · 2019

  China-focused fund for British and European investors

  Launched in 2019, this product was designed to serve British and European investors seeking China-related investment exposure. Its introduction reflected increased demand for China-focused services and Value Partners' effort to expand distribution beyond its established Asian client base.

• 2023

  Proposed GF Securities investmentM&A

  Background

  GF Securities announced an intention to take a significant strategic position in the Hong Kong-listed asset manager.

  Action taken

  GF Securities announced the proposed acquisition of a 20.2% stake in Value Partners.

  Aftermath

  The announcement could materially reshape Value Partners' shareholder structure, but the supplied material does not confirm completion or describe later governance outcomes.

  Source

• 2019

  Launch of China fund for British and European investorsProduct launch

  Background

  The firm identified increased demand among British and European investors for China-related investment exposure, while research cited in contemporary reporting highlighted the difficulty Asian funds faced in competing for European assets.

  Action taken

  Value Partners launched an investment fund aimed at British and European investors.

  Aftermath

  The launch broadened the firm's international product and distribution effort. The supplied references do not provide subsequent asset or performance data.

  Source

• 2015

  Disposal of Goldstate Capital Fund Management interestM&A

  Background

  Value Partners held a 49% equity interest in Goldstate Capital Fund Management Co., Ltd. and decided to exit that investment.

  Action taken

  The company sold the 49% interest to a company under Yunnan Jiutian Investment Enterprises Ltd.

  Aftermath

  The transaction reduced Value Partners' ownership of the affiliate. The supplied material does not describe longer-term operational or financial consequences.

  Consideration. RMB45 million (2015 transaction)

  Source

• 2020.01.09

  Reported2020.01.09

  Value Partners Group wins Best Financial Stock Company award[2]惠理集团荣获“最佳金融股公司”奖finance.sina.com.cn

  Value Partners Group received the Best Financial Stock Company award at the Fourth Golden Hong Kong Stocks Annual Selection.

Read more

1. 1Value Partnersen.wikipedia.org
2. 2惠理集团荣获“最佳金融股公司”奖finance.sina.com.cn