27 August 2021 | Paul Dixey

Investing in Asia

This week Paul turns his attention to investing in Asia with Tom Naughton, Managing Partner and CIO of the Asian investment boutique, Prusik Investment Management "Tom was a great guest with unparalleled knowledge of the Asian investment markets and it was fascinating to listen to his career journey to date".



01:20 - Paul looks back to Tom’s early experiences at the Universities Superannuation Scheme, one of the largest private pension schemes in the UK.

02:30 - There he met mentors Peter Moon & Clive Edwards who helped develop his unconstrained, absolute return mindset which he still uses today.

03:46 - In 2002, Tom moved to Hong Kong and was hugely successful in scaling a hedge fund with PMA Investment Advisers.

04:30 - And nothing quite focuses the mind when ‘the rent was almost the same as my salary’ and Tom speaks candidly about the importance of making ‘money in order to live’ while out there

06:25 - Paul discusses the challenge of raising seed capital for his income fund at Prusik Investment Management when he returned to London in 2010.

07:36 - What continues to make Asian economies an attractive place to invest for income.

09:15 - An overview of key sectors and those to avoid, and dividend strategies.

12:48 - Tom's approach to valuation and the use of the St Petersburg Paradox to illustrate today’s valuation dilemma.

15:35 - As the Chinese authorities crank up regulatory pressure on various sectors, Paul asks Tom if China is investable today, and he talks through the thesis behind investing in telecoms.

21:34 - Hong Kong and the National Security Law.

24:30 - How Asian countries are currently dealing with the pandemic and what are they doing from an ESG perspective.

29:46 - The advantages of being a boutique and the ability to focus on the ‘best outcomes for clients’.

31:42 - Finally, Tom shares some advice for those looking to enter the industry, some essential reading and a couple of investor icons he would like to meet.

Back to News & Insights

Terms & Conditions

The information and services described on this website are not intended to be used by, or to be available to, persons accessing the website from outside the United Kingdom.

The value of investments and the income derived from them may go down as well as up and you may not receive back all the money which you invest.

The investments and investment services described or recommended on this website may not be suitable for all people.

Any information relating to past performance of an investment or investment service is not a reliable indicator of future performance.

No tax advice is provided and clients will need to seek advice from their independent tax advisor.

Fluctuations in the rate of exchange may have an adverse effect on the value, price or income of non-sterling denominated investments.

Vermeer Investment Management Limited, its associates, employees and/or clients may own or have a position in securities referred to on this website or may have provided advice or investment services in relation to any such security.

The Website is for information purposes only. Information contained on it is not intended to be an offer to buy or sell securities and this website should not be regarded as an offer or solicitation to conduct investment business as defined in section 21 of the UK Financial Services and Markets Act 2000 (FSMA).

Nothing on this website is intended to exclude or restrict any duty or liability which Vermeer Investment Management Limited may have under the FSMA (or any subsequent amending or replacement legislation) or the rules and regulations for the conduct of business made thereunder.

For the purposes of FSMA this website has been approved by Vermeer Investment Management Limited, which is authorized & regulated by the Financial Conduct Authority.

Please read our Privacy Policy. By clicking ‘accept’ you agree to be bound by the terms of this notice.