• Mike Sim

How I started my own Hedge Fund and ALL THE PAINS that comes with it!!

My name is Mike Sim from Singapore. I started my "ouch" Fund Management Company in 2017, after been in the financial industry for 6 years.

Why I started my fund management company?

I got bored working in the bank, many are selling flavor of the month, ranging from insurance, unit trust, new structured products launch, bonds that require to be sold off. Especially for bonds, sometimes, I don’t even know if it is because the specialists are trying

to get rid of the investment products for another investor or wanting to make his commission or both. Don’t get me wrong, I came from the banking industry and I respect them for that, I got nothing against them, in fact, I only market financial products that my investors need to my investors and earn the commission, just that I do not like to sell flavor of the month in exchange for some “incentive” vouchers or some Quarter sales target incentive trip just by selling a particular financial product. It doesn’t make sense that everyone financial needs is the same for that same period for that single product.

With that, during my banking days, I have a clear goal, a vision, a mission, I want to set up my own fund management company and help my investors managed their fund and make them good money, with profits make above a certain percentage, that is where I will start to receive my bonus, therefore creating a win-win with my investors. Are you having this urge and feel inside you that is roaring for you to start your own fund company? AWESOME! Come and talk to me, I can show you the way to avoid all these silly mistakes that I have made!

Why is it so hard to find an aligned partner?

My 1st director was an ex-colleague of mine from the bank, he was a simple man, well at least he looks and gives me the feel he is simple. He is not a top producer, nor was he at the bottom of the food chain, he was just okay. My observation was that he did not sell his clients on products, he looks like a banker that is not a product pusher. Therefore, I discussed with him and got him into my firm, but things soon turn south, he has other plans, and he went into cryptocurrency and eventually we part our ways, and he is involved in scams.

Finding an aligned partner is tough, finding one with integrity, trust and transparency is even harder. It took me 2 years to unwind this successfully but cause me a big learning experience. This, for anyone whom want to start their own funds, can be avoided.

What are services providers?

You come from the banking background, you want to come out and start your own funds, you think you can take over the world and your fund is so great that it reaches $1Billion in asset under management. It is possible, but there are a lot of work to be done, you require a strong team, a strong service providers team, which includes, custody, fund admin, auditors, legal, bank, corp sec, prime and etc. The setting up time and cost is substantial enough to kill you, and if it doesn’t and you manage to pull thru, you will be lucky to get it up in 6-9 months and that your investors still stay invested with you.

I have been thru the above and it is not easy, the hardest is every service providers claim they are the best, it is only when you get involved with them that you realized if they are good or bad, or worst. I personally went thru the process of unwinding from some of my service providers and this unwinding process took me 1 year to complete. It is a truly terrible experience. Imagine you can avoid all these right from the start! Wouldn’t you like to avoid all these?

What does my company does?

I have been there, suffered and done that, kick started with cayman island fund, come back to Singapore and kick start in a Singapore Variable Capital Company Fund.

Entail Holdings is a launch pad for your fund, we are an incubator for your traditional fund strategy, hedge fund, equities fund, options fund, futures fund, you name it, we are your platform. YOU have a good strategy, you execute it, we handle for you the rest, from the operations to the compliance, risk governance, right down to the onboarding of investors.

WE even assist you with the sacred resources, fund raising. What’s fun when you have a good fund strategy, but no one knows.

If you have been experiencing a burning desire to kick start your fund, speak to me and I

will show you how.

Drop me an email at mike.simbc@entailholdings.com

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