by Ferry Bayu | Jul 26, 2024 | Business
Millennials are still Dominating, But Gen Zs are catching up
Millennials remain the backbone of the online taxpayer demographic, contributing nearly 75% of income filings in 2024. This generation, born between 1981 and 1996, continues to be a vital force in driving economic activity and generating tax revenue in the Philippines.
However, Gen Z (born after 1996) online taxpayers are quickly increasing, with their share of income filings rising from 9% in 2023 to 12.7% in 2024. This generation’s growing economic influence is indicative of their early entry into the workforce and their preference for digital solutions in managing their financial responsibilities. Gen Z’s growing participation showcases their adaptability and innovative approach to economic engagement.
Female Millennials alone account for the highest percentage across all categories at 42.9%, followed by Female Gen Z at 10.6%. This indicates a strong presence of female representation in these younger generations within the socioeconomic spectrum.
Informal Employment Rises, as Low Income Earners Experience Downgrade in Socioeconomic Status
Despite facing economic challenges, the use of online tax payments has seen a significant rise. Tax collections through Taxumo have grown by approximately 58.45% year-on-year, reflecting a broader trend towards digitalization and ease of compliance. The Bureau of Internal Revenue (BIR) reported an 11% increase in tax collections in April, surpassing their target by Php35.114 billion.
However, informal employment remains a significant issue, with IBON Foundation estimating that 41.6% of the workforce, or 20.4 million people, are engaged in informal work. This includes domestic workers, self-employed individuals, and unpaid family workers. The prevalence of informal employment underscores the need for more robust economic policies and support systems.
The majority of Poor taxpayers who were Poor last year remained poor (65%.) 41% of individuals in the Low Income category have experienced a decline in their socioeconomic status coming from a higher earning bracket, while 40% have seen an improvement in their socioeconomic status.
None of the individuals in the Rich category have experienced a decline in their economic status, but 44% are newly Rich – finally breaking out of their High Income status from the previous year.
Service Providers are the Top Online Taxpayers
Businesses focused on services, such as events management, travel agencies, and social media agencies, lead the way in online tax filings. The IT & Tech sector also has a strong presence, highlighting a growing technology-driven economy.
For a deeper dive into the insights and recommendations of the 2024 State of Online Taxation report, visit txmo.co/SOOT2024
by Penny Angeles-Tan | Jul 25, 2024 | Business
Parañaque City, Philippines – The USAID Strengthening Private Enterprise for the Digital Economy (SPEED) and StartUp Village hosted a transformative “Capacity Development Program for SMEs” on July 23, 2024, at Kingsford Hotel in Parañaque City. Attended by local dignitaries such as Congressman Edwin Olivarez and Mayor Eric Olivarez, along with members of the Philippine Chamber of Commerce and Industry (PCCI), the event underscored the importance of digital transformation for small and medium-sized enterprises (SMEs).
Atty. Gino Jacinto at Kingsford Hotel, Paranaque City July 23, 2024
A highlight of the event was a compelling presentation by Atty. Gino Jacinto, COO and VP of Operations and Business Development at UNAWA, titled “From Ink to Click: The Digital Signature Advantage for Small Businesses.” Jacinto emphasized the pivotal role of electronic signatures in streamlining business operations. “Electronic signatures enable businesses to close deals securely and efficiently, eliminating doubts,” he said, showcasing UNAWA’s platform, SignSecure, as a crucial tool for SMEs aiming to enhance their operational efficiency.
The program featured insightful sessions designed to promote digitalization among SMEs. Ms. Steph Dy Tiapco from StartUp Village discussed the advantages of adopting a growth mindset through digitalization. At the same time, Mr. Angel Feliciano of Prosperna shared strategies for leveraging eCommerce to drive business growth.
This initiative, part of USAID SPEED’s broader efforts, aimed to equip Filipino SMEs with the tools and strategies needed to thrive in a digital age. For more information on future events and digital solutions, visit UNAWA and StartUp Village.
by Penny Angeles-Tan | Jul 24, 2024 | Events
The much-anticipated Manila Bridal Fair by Manila Prince Hotel is set to grace the Grand Ballroom on July 26 and 27, 2024. This prestigious event aims to bring together a curated selection of industry experts, offering soon-to-wed couples an unparalleled experience. Admission is free on both dates.
The line-up of over 20 exhibitors is set to impress, from Angeline Cakes, Audiolex Interactive Photobooth, Babaylan Coffee, Big Day by Charles and Co., Cakecologist, Cocktails Manila, Events by Thoffy, FYI Events, Flowers by Alvin, Lawrence Tapalla, MTC Events, Music Podium Entertainment, Myra Lorenzo, Myrtle Salvador, Paper Flowers Manila, Photoculture, Purple Mix Lights & Sounds, Sentimental Groove Music, The Artisan Cellar Door, and Winvih Mobile Bar – all dedicated to making each wedding truly memorable. Couples can consult with these professionals and book their services during the fair.
On July 26, the fair will open its doors at 12:00 noon and will run until 7:00 pm. In the evening, there will be a bridal fashion show putting the spotlight on ready-to-wear gowns and suits by partner designers Carina Canlas, Fatima Beltran, and Ryan ChrisBaylen, plus members of Designers Circle Philippines.
On the second day, July 27, the fair will be open to attendees from 10:00 am to 7:00 pm. Additionally, partner designers will hold a trunk show at the presidential suites of the Manila Prince Hotel. Couples can view the designers’ gown and suit ready-to-wear collection, try them on, and make purchases on the spot, ensuring a personalized and exclusive shopping experience. Moreover, Benz Co-Rana, the founder of Weddings at Work, will present a talk, offering her insights to couples and wedding suppliers.
During the 2-day bridal fair, Manila Prince Hotel will be transformed by the creative talents of none other than Amante Fleurs and Joyce Aguilar at both the hotel lobby and the Grand Ballroom. Manila Prince Hotel will also showcase its signature themes: Classic for a timeless elegance, Opulent for a luxurious feel, and Oriental for a unique and exotic touch, providing attendees with a glimpse of the stunning settings that can make their special day unforgettable.
For more information about the event, call +63285256228, email in**@**********ce.com, or visit www.manilaprince.com.
Special thanks to event partners: Manila Bulletin, Wedding Essentials, The Manila Times, Wheninmanila.com, Department of Tourism, Culture, and Arts of Manila, Mixcraft Lights and Sounds, Weddings at Work, and SM Store Manila.
About Manila Prince
Manila Prince Hotel, a subsidiary of The Manila Hotel, is strategically located in the heart of Manila’s business district. Its proximity to the city’s historical tourist spots and main transportation hubs ensures a stress-free and convenient stay for our guests.
With its 300 well-appointed rooms, six function rooms and ballrooms, an elegant lobby with 24-hour reception, a business center, a swimming pool, and gym access, the Manila Prince Hotel offers not just stylish comfort, but also excellent value for money. Along with our commitment to excellent service and luxurious hospitality, the hotel boasts two (2) exciting dining outlets: Marcelino Street Café, the all-day dining restaurant, and Dragon Court, the Chinese restaurant that serves authentic Chinese cuisine.
It also has a speakeasy bar called Hyde Manila. Hyde Manila is a hidden gem at Manila Prince Hotel that will transport its patrons into a realm where time stands still, and cocktails are crafted with artistry that transcends the ordinary.
The hotel is directly connected to the UN Square Mall, a popular shopping and dining destination in Manila. This convenient access to a variety of retail and dining options, along with our other amenities, makes Manila Prince Hotel a top choice for leisure travelers.
by Ferry Bayu | Jul 23, 2024 | Business
Simplyfi™, a pioneering force in financial management platform, is honored to welcome Mr. Shanmuga Retnam as the newest member of our advisory board. Mr. Retnam, a distinguished business leader with an illustrious career spanning both the private and public sectors across Asia, brings to Simplyfi™ a wealth of experience and an unparalleled depth of knowledge in smart city development, cross-border strategies, and economic city branding.
As the Executive Co-Chairman of the Vietnam Smart City Consortium (VSCC) and a Partner at MARA (Market Access & Regulatory Affairs) Vietnam, Shanmuga Retnam has been instrumental in promoting local economic development and facilitating trade exchanges within Vietnam and ASEAN. His previous roles include Vice President, Asia Pacific for G3 Worldwide and Chairman of the Data Driven Marketing Association of Singapore (DMAS), where his visionary leadership was recognized with a Minister’s Award by the Prime Minister’s Office (Singapore) in 2010, where he conceptualized the World Cities Summit in 2008.
Retnam’s expertise in fostering sustainable urban projects and his role as a special advisor to Fundacion Metropoli and the Good City Foundation highlight his commitment to enhancing city lives and environments through innovative strategies. His recent initiatives, such as the Vietnam Business Exchange (VBEx) series, underscore his dedication to connecting enterprises across Singapore and Vietnam, strengthening business ties and fostering economic growth.
“Simplyfi™ is privileged to have Shanmuga Retnam join our advisory board,” said Wayne, CEO/Co-Founder of Simplyfi™. “His extensive network, strategic insights, and proven track record in transforming cities and businesses make him an invaluable asset to our team. With Retnam’s guidance, we are poised to navigate the complexities of the ASEAN market more effectively and to drive our mission of delivering innovative financial solutions that empower businesses and individuals across the region”
Retnam’s appointment is a testament to Simplyfi™’s commitment to excellence and our vision for a connected, sustainable future. We look forward to his contributions and are excited about the possibilities his involvement brings to our strategic direction and growth.
by Ferry Bayu | Jul 23, 2024 | Business
Who: The Mindfulness Academy, an initiative by the Centre for Mindfulness (Singapore)
Where: Singapore, with a global reach.
When: Launch announced on July 19, 2024.
What: Offering internationally accredited mindfulness training programs, including:
- MTT – Mindfulness Teacher Training
- MOCP – Mindfulness-Oriented Counselling & Psychotherapy Training
- OMF – Organisational Mindfulness Facilitator Training
- SMF – Schools Mindfulness Teacher Training
How: Provide flexible learning paths and interactive live classes accredited by the International Mindfulness Teachers Association (IMTA), integrate Eastern and Western practices, and focus on social intelligence through mindfulness.
Additional Information:
- The flagship MTT program has trained many mindfulness teachers in the past nine years, benefiting various community sectors.
- Courses are evidence-based and designed by experts with extensive experience in psychology, counseling, mindfulness, and Eastern philosophies.
- Faculty members have over five years of mindfulness expertise and diverse specialized knowledge.
- The Centre for Mindfulness is renowned in Singapore and Asia for its impactful mindfulness programs and research.
Singapore, July 19, 2024 – The Mindfulness Academy, an initiative by the Centre for Mindfulness (Singapore), proudly announces its launch, offering internationally accredited mindfulness training programs. Accredited by the International Mindfulness Teachers Association (IMTA), the Academy provides comprehensive certification and professional development courses, such as:
MTT – Mindfulness Teacher TrainingMOCP – Mindfulness-Oriented Counselling & Psychotherapy TrainingOMF – Organisational Mindfulness Facilitator TrainingSMF – Schools Mindfulness Teacher Training
The Academy offers flexible learning paths and interactive live classes to equip professionals to teach mindfulness to diverse populations, catering to the growing and varied demand for quality in the field of Mindfulness Teaching. The unique approach of the Academy seamlessly integrates Eastern and Western practices and focuses on creating social intelligence using mindfulness.
The flagship MTT program, which has been offered for nine years, has successfully trained over 50 compassionate and skilled mindfulness teachers in the East and West. These teachers have significantly enhanced community well-being through programs for schools, special needs students, employees, managers, leaders, seniors, and people with medical needs.
The Academy courses are evidence-based, reflecting the latest research, and designed by experts with 15-20 years of experience in psychology, counseling, mindfulness, Eastern philosophies, and other well-being disciplines. The faculty members, each with over five years of mindfulness expertise, bring diverse backgrounds and specialized knowledge.
The Centre for Mindfulness is renowned in Singapore and Southeast Asia for its impactful mindfulness programs and research. The visionary founder, Dr. Kathirasan K, says, ‘With the launch of the Academy, we are expanding our reach globally, committed to cultivating embodied, socially driven and skilled mindfulness teachers.’
by Ferry Bayu | Jul 20, 2024 | Business
Media and information literacy (MIL) has become a crucial ability for people of all ages in today’s fast-paced digital world. Imagine yourself standing at the shore of a vast ocean. News stories, social media posts, videos, and even chats with friends are all carried in waves that crash all around you. It may be both thrilling and overwhelming to wade through this ocean of knowledge. How do you decide which waves to surf and which ones to avoid?
This is where media and information literacy come in. It’s like a lifeguard, teaching you the skills you need to navigate the information ocean. A MIL gives you the skills necessary to be an informed producer and consumer in the modern digital world, as learning to swim keeps you safe in the sea.
So, what exactly is MIL? It’s a combination of knowledge, skills, and attitudes that help you:
Access: To do your due diligence about the sources of your information.
Analyze: Think about the information you encounter. Is it accurate? Biased? Does it make sense considering other sources?
Check: Decide how trustworthy the information is and how you can use it.
Create: Learn how to use diverse media types, such as presentations or posters to share your ideas.
Engage: Recognize the possible hazards and obligations associated with using technology and information.
Why is MIL so important?
We are exposed to information in today’s environment. Some of it is false, ineffective, or even dangerous. MIL gives you the tools to: sort through the clutter and locate the information that matters.
Make informed decisions: Whether it’s choosing a movie to watch, researching a school project, or forming an opinion on a current event, It helps you make wiser choices based on reliable information.
Become a responsible citizen: In a healthy democracy, citizens need to be able to think and engage in constructive dialogue. MIL facilitates communication, understanding of various viewpoints, and participation in both online and offline communities.
Learning MIL is a continuous journey, like learning to swim. As you explore the information ocean, you’ll encounter new challenges and opportunities. You can develop into an informed and capable information age navigator by using your MIL talents and maintaining your curiosity.
Remember, everyone can learn and enjoy MIL. Ask credible people about resources that can support the growth of your media and information literacy. By working together, we can create a world where everyone has the tools they need to thrive in the ever-changing ocean of information.
Coach Boost Gio
by Ferry Bayu | Jul 19, 2024 | Business
Lipstick sales surged in early 2024, driven by e-commerce growth and a preference for long-lasting products like Maybelline’s “Superstay Matte Ink.” Shopee dominated with a 77.3% market share, while local brands like Wardah also saw significant gains in Indonesia’s beauty market. Magpie E-commerce Intelligence provides insights for businesses to capitalize on these trends.
Jakarta, 19 July 2024 – The beauty category in e-commerce continues to show incredible growth. According to research by Magpie E-commerce Intelligence, there has been an 8% sales surge compared to the same period in 2023.
In 2024, the beauty industry is on the rise again. In the lip market alone, it is projected to reach USD 22.17 billion globally and USD 359.3 million in Indonesia. “This makes it a very attractive market for brands to keep improving their products to meet the demands of beauty enthusiasts,” said Wilhendra Akmam, CEO of Magpie.
In fact, e-commerce has become one of the most preferred platforms to purchase lip products. In Indonesia, 82% of beauty enthusiasts prefer e-commerce to buy their favorite products.
Lip Market Performance Overview
GMV growth of Lip Category
The Gross Merchandise Value (GMV) of the lip market reached IDR 516.6 billion. With 16.7 million products sold on Shopee and Tokopedia, this surge explains why the lip market has been on fire lately. “However, there has been a 14.7% decrease compared to Q3 2023, which reached IDR 605.8 billion,” stated Wilhendra.
Market Share by E-commerce
E-commerce market share of the Lip category
The overall share shows that Shopee dominated the market from January to March 2024 with a 77.3% share, leaving Tokopedia with only 22.7%. Despite Shopee’s dominance as the preferred marketplace, Tokopedia showed more growth compared to Q4 2023. Tokopedia saw a 2.5% increase in GMV, while Shopee experienced an 18.7% decrease.
Market Share by Brand
Brand market share by e-commerce
Maybelline became the winner of this market, leading on both Shopee and Tokopedia in Q1 2024. Although Maybelline holds a larger market share on Tokopedia, they generated twice as much GMV on Shopee compared to Tokopedia.
Local brands like Wardah and Hanasui also showed incredible growth during this period, securing spots in the Top 5 on both marketplaces, showing that different segments on each platform could influence market preferences.
Top-Selling Lip Category and Products
Brand market share by category
The lipstick category dominated the lip products market on both e-commerce platforms, reaching a 91.5% share. Meanwhile, the shares of lip balm and lip treatment products were higher on Shopee than on Tokopedia, showing that more people preferred Shopee as their favorite.
The lip cream category became the favorite in Q1 2024. The top three products in this category were claimed to be “long-lasting” lip cream products. In fact, Maybelline’s long-lasting products, such as “Superstay Matte Ink” and “Superstay Vinyl Ink,” topped the list.
The top three products in the lip balm and lip care category were priced below IDR 100k, with the most affordable products coming from The Originote. “Interestingly, these affordable products contributed more to the market due to their popularity in bulk purchases,” added Wilhendra.
Thumbnail Picture by: phkorotkova on Canva
by Ferry Bayu | Jul 19, 2024 | Business
In today’s competitive business environment, organisations are constantly seeking effective strategies to enhance performance and achieve sustainable business results.
Deep Impact Pte Ltd, a leader in solution-focused training and consultancy services, proudly announces the significant impact of its solution-focused approach. It stands out because employees can create new possibilities, lead optimistic change and deliver results, bottom-up and not top-down.
This is significant because traditional approaches in the workplace have always been using the problem-focused approach and may not be useful in today’s complex business environment. 
The Solution-Focused Approach: Transforming Mindsets and Outcomes
In a business environment, adopting a solution-focused approach over a problem-focused approach offers numerous advantages. Here are some key benefits:
1. Enhanced Positivity and Morale
Solution-Focused: Encourages a positive mindset by concentrating on potential solutions and future improvements, boosting employee morale and fostering a can-do attitude.
Problem-Focused: Often dwells on issues and challenges, which can lead to a negative atmosphere and decreased motivation.
2. Increased Efficiency and Productivity
Solution-Focused: Directs energy towards actionable steps and practical solutions, leading to faster problem resolution and increased productivity.
Problem-Focused: Can become bogged down in analyzing problems, which may slow down progress and divert attention from effective action.
3. Improved Innovation and Creativity
Solution-Focused: Promotes creative thinking by encouraging employees to explore various solutions and think outside the box.
Problem-Focused: Tends to limit thinking to the confines of the problem, potentially stifling innovation and creative problem-solving.
4. Better Team Collaboration and Communication
Solution-Focused: Fosters a collaborative environment where team members work together to find solutions, enhancing communication and teamwork.
Problem-Focused: This can lead to blame-shifting and conflict, which may hinder effective collaboration and communication.
5. Greater Employee Engagement and Empowerment
Solution-Focused: Empowers employees by involving them in the solution-finding process, increasing their sense of ownership and engagement.
Problem-Focused: Employees may feel disheartened or disengaged when the focus is predominantly on problems rather than their potential to contribute to solutions.
6. Positive Organizational Culture
Solution-Focused: Builds a culture of continuous improvement and optimism, attracting and retaining talent who thrive in positive environments.
Problem-Focused: Can contribute to a culture of criticism and negativity, potentially driving away top talent who seek more positive workplaces.
Delivering Results for Corporates and Government Entities
The solution-focused approach is particularly advantageous for corporations and government entities aiming to improve efficiency, streamline operations, and achieve strategic objectives. By concentrating on solutions, these organizations can drive meaningful and lasting change, resulting in:
- Higher levels of employee engagement and satisfaction
- Improved operational efficiency
- Enhanced innovation and problem-solving capabilities
-
Sustainable business growth and performance
Testimonial
“This is the exact program that I’ve always wanted to see. Small Steps to Big Changes® has helped my staff to be proactive in personally taking up initiatives to develop real solutions that make an impact, rather than wait for other project teams to develop solutions. Deep Impact has created a sense of optimism and belief that change is possible and we have many measurable cases of improved productivity and better patient experiences.”
Chief Executive Officer, A large public hospital
Deep Impact Pte Ltd
Deep Impact is a leading provider of training and consultancy services in Singapore, dedicated to helping organizations achieve exceptional performance and growth. We offer tailored solutions to meet the unique needs of our clients in both the corporate and government sectors.
For more information about the solution-focused approach and how it can enhance your business performance, please visit Deep Impact’s Website DeepImpactOnline.com or contact Kenneth [ke*****@**************ne.com].
by Ferry Bayu | Jul 18, 2024 | Business
Manhattan, New York – July 18, 2024 – It wasn’t Jaydee’s dream to come to New York, why? “I’ve always felt it’s a bit overrated, but don’t get me wrong—I’m not just a city person. However, when opportunities come knocking, you open the door, right?”
Despite his initial reservations about the Big Apple, Jaydee recently found himself at the heart of the city, participating in one of the largest NFT conferences, dubbed the “Super Bowl of NFTs.”
Jaydee Rebadulla, a Venture Developer and Ecosystem Enabler, had the incredible opportunity to be part of a panel discussing the “Convergence of AI and NFT.” The conference brought together a global congregation of thought leaders and innovators in the space, providing Jaydee with a platform to share his knowledge and insights.
During the conference, Jaydee shared the stage with notable industry leaders, including:
- Manana Samuseva: Founder of Babylon Voice, an AI Voice-Based Digital Identity and Voice Signatures platform targeting the 1 billion unbanked worldwide via wallets, apps, payments, and games. Babylon Voice leverages Digital Intellectual Properties and Zero-Knowledge Proofs.
- Harmon Leon: A New York Times and Forbes-featured comedian who started the world’s first AI vs. Human Comedy Roast Battle.
- Jessy Jeane: Founder of Art From Future DAO, creator of art under the name JessyFries, and co-founder of Gxrls Revolution — a web3 collective empowering women artists.
Manana Samuseva, Harmon Leon, and Jessy Jeane
Jaydee Rebadulla
Jaydee’s participation and contributions to the panel went beyond the discussion. He also shared with the audience how to kickstart their cryptocurrency savings journey through the Crypto Savings Club (CSC) platform built by Bitshares Labs and Compumatrix.
Jaydee emphasized the importance of proper diversification, allocation, and having a solid strategy in the often-daunting crypto space, noting that without it, beginners are prone to making costly mistakes, like being a victim in frauds or scams (e.g., honeypots, rug pulls, etc.)
In CSC, users can earn yields with their staked stablecoins. The platform is designed not just for saving and staking but also for setting personalized financial goals and creating a roadmap for the future. Whether users are saving for a down payment on a house, planning for retirement, or simply looking to grow their wealth, CSC empowers them to take control of their financial destiny.
The conference in New York City turned out to be more than just an opportunity for Jaydee—it was a revelation of the potential that the city and the tech space hold. Through engaging discussions and connections, Jaydee witnessed firsthand the innovation and collaboration driving the industry forward. This experience has not only enriched his journey but also ignited a renewed passion for advancing the fields of AI, Blockchain & other emerging technologies.
“The time when the world’s technological advancements were limited to specific hubs like Silicon Valley has passed. Today, talented individuals with the will to create social impact are spread across various regions, busy solving real-world problems,” Jaydee said. His journey embodies this shift, demonstrating that innovation knows no geographical boundaries.
Jaydee is continually traveling and has visited multiple states and cities to foster relationships and connections with investors, accelerators, and enablers. These connections can later open opportunities for Filipinos and other neighboring countries in Southeast Asia, fostering a collaborative ecosystem. He is on a mission to destroy the stigma and social norms about Filipinos.
We are more than just domestic workers or OFWs; Filipinos, too, can build and contribute to innovation. As Jaydee continues to lead and innovate, he remains committed to empowering communities and fostering a more inclusive and prosperous digital future.
by Ferry Bayu | Jul 18, 2024 | Business
Quantedge Global Master Fund named by Bloomberg among hedge fund giants that are off to a great start this year.
In an article published on July 12, 2024, Bloomberg
published a list of the biggest hedge funds getting off to great starts to the
year, naming Quantedge Global Master Fund among well renowned peers such as D.E.
Shaw’s macro fund, Marshall Wace’s TOPS quant fund, Citadel’s tactical
multimanager fund.
Quantedge, a single portfolio manager, has a track-record
of almost 18 years of market-beating returns, averaging 20% net annualised
returns since inception. Such aggressive compounding would lead to a day-one
investor growing each dollar invested 23 times.
The article describes these fund as getting off to one of
the best starts to a year, aided by stocks and quantitative investing.
Quantedge invests in close to 300 different markets within
its ultra-diversified quantitative investment portfolio, which deploys both
risk premia and market-neutral strategies. The fund is up +17% as of the end of
July, with gains largely coming from currency long-shorts, equity risk premia
and equity long-short strategies. Its dynamic asset allocation approach
involves re-evaluating the attractiveness of strategies daily and rebalancing daily.
Suhaimi Zainul-Abidin, CEO for Quantedge Capital remarked
that “We had a good year in 2023, when the fund made 30% on the back of tail
wind on equities risk premia and commodity long-short bets. We’re continuing to
make gains from equities, but our currency long shorts have been more
profitable this year, thus far.”
When Quantedge launched its fund in 2006, it started with a
modest $2.8 million under management, with a goal of running a systematic
investment strategy that targeted a high level of portfolio volatility to
deliver outsized long-term returns. Its growth into a large hedge fund (>
$1billion) over the years has been nothing short of remarkable. While Quantedge
continues to grow its assets under management, it has no plans to launch
additional funds or products, preferring to focus on a single investment portfolio
for the benefit of investors.
“We’ve always promised our investors that all our resources
are devoted to optimising our single investment portfolio. Our employees invest
alongside all our external investors, and together make up the biggest investor
in the fund. Our interests are fully aligned”, Suhaimi added.
When asked about future returns, Suhaimi clarified that
Quantedge is not able to predict the future. He said “We don’t make predictions
about whether the next day, week or month will be good for the markets. It’s
anyone’s guess because the possibilities are endless. But looking at the
markets today, we can say that the odds are in our favour. The current high-interest
rate-environment benefits our investment strategy by making safer markets more
attractive alternatives to risk ones for participants looking to de-risk. This
drives lower correlations across markets, which should enhance the performance
of well-diversified strategies like ours.”
Quantedge’s investors include institutional investors such
as reinsurance companies and university endowments from across the globe.
However, most of its investors are high net-worth individuals and family
offices based in Asia, being investors who have both a long-term investment
horizon and the ability to tolerate short term volatility.
On July 26, the fair will open its doors at 12:00 noon and will run until 7:00 pm. In the evening, there will be a bridal fashion show putting the spotlight on ready-to-wear gowns and suits by partner designers Carina Canlas, Fatima Beltran, and Ryan ChrisBaylen, plus members of Designers Circle Philippines.
On the second day, July 27, the fair will be open to attendees from 10:00 am to 7:00 pm. Additionally, partner designers will hold a trunk show at the presidential suites of the Manila Prince Hotel. Couples can view the designers’ gown and suit ready-to-wear collection, try them on, and make purchases on the spot, ensuring a personalized and exclusive shopping experience. Moreover, Benz Co-Rana, the founder of Weddings at Work, will present a talk, offering her insights to couples and wedding suppliers.
Manila Prince Hotel, a subsidiary of The Manila Hotel, is strategically located in the heart of Manila’s business district. Its proximity to the city’s historical tourist spots and main transportation hubs ensures a stress-free and convenient stay for our guests.
Manhattan, New York – July 18, 2024 – It wasn’t Jaydee’s dream to come to New York, why? “I’ve always felt it’s a bit overrated, but don’t get me wrong—I’m not just a city person. However, when opportunities come knocking, you open the door, right?”
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