Cheah moves to fund firm

MORGAN Grenfell Asia research director Cheah Cheng Hye has resigned to go into private fund management in a new venture backed by the Yeh family of Hsin Chong Group.

Mr Cheah is managing director of Value Partners, of which he owns 14.5 per cent.

A quarter of the company is held by Hsin Chong executive director Yeh V-Nee, who will also be an executive director of the new company capitalised with $30 million of start-up money.

The company will specialise in smaller capitalised stock institutional fund management on a no-load, pay-on-returns basis.