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Banjaran AMC's CEO, Mr. Eric Loo, joins LionTrust’s 20th Anniversary Celebration
Singapore – September 5, 2025 Banjaran Asset Management (Cambodia) Plc. was invited to attend LionTrust Group's 20th-anniversary celebration in Singapore. It was an honor for our CEO and Executive Director, Mr. Eric , to join founders, partners, and industry peers in celebrating this remarkable milestone. LionTrust's two-decade journey is a powerful testament to the impact of trust, culture, and consistency. In an industry often focused on short-term gains, they have proven that genuine relationships and long-term stewardship are what build enduring success. This commitment deeply resonates with Banjaran Asset Management's mission in Cambodia. The principles LionTrust embodies are the very same we strive for: Trust as the cornerstone of every partnership. A collaborative culture that fosters shared purpose. Longevity built through alignment and sustainable growth. We extend our warmest congratulations to the entire LionTrust team. Their legacy of values and dedication is an inspiration, and we look forward to continued collaboration as we both work to shape a stable and prosperous financial future for our respective communities.
Banjaran AMC Shares Insights on Collective Investment Schemes with University Students
On the morning of August 26, 2025, representatives from Banjaran Asset Management (Cambodia) Plc. participated in a training session on "Smart Investing," organized by ACLEDA Securities Plc. with support from the Securities and Exchange Regulator of Cambodia (SERC), the Cambodia Securities Exchange (CSX), and Asia Euro University (AEU). During this training session, with the approval of the management of Banjaran Asset Management (Cambodia) Plc., Mr. Taing Hoy, Legal and Compliance Officer, delivered a presentation on " Collective Investment Schemes (CIS)" introducing new investment knowledge relevant to the securities sector in Cambodia. This training was organized with the aim of promoting financial literacy, fostering effective saving habits, and enhancing smart investment practices among university students.
Shaping Cambodia’s Financial Future: Insights from Industry Leaders
The recent session on 22nd of August 2025, brought together industry leaders to share their expertise on pivotal topics shaping Cambodia’s financial sector. Mr. Eric Loo opened with an impactful presentation on “The Profound Significance of Successfully Launching Cambodia’s First Public Fund for the National Economy and Financial System”. He highlighted Banjaran AMC’s footprint as a pioneer in the Cambodian market, discussing the challenges faced in introducing the country’s first public fund and the company high standards in setting to the industry to ensure transparency, security, and investor confidence. He also emphasizes how this succession brings economic advantages, one such as attracting new investment opportunities and how the CIS can support projects & SMEs in driving growth. His insights underscored the importance of innovation and diligence in building a financial system that strengthens both the economy and the investment landscape. Following this, Mr. Hans Chen from StrongHold Trustee introduced his company and elaborated on the importance of trustee services, underscoring their role in ensuring security, transparency, and trust in the management of collective investment schemes. Finally, Mr. Zhang Dazhi shared his expertise on corporate compliance in Cambodia, discussing practical strategies for businesses to manage risks effectively. He covered key areas including proper tax planning, sustainable growth through EIAs, accurate reporting, and overall adherence to regulatory requirements, providing guidance on how companies can navigate the evolving compliance landscape safely. Together, these discussions highlighted the collective efforts of industry experts in shaping a stronger, more resilient, and forward-looking financial ecosystem for Cambodia.
Banjaran AMC Plays a Key Role at National Seminar on Investment Instruments
On August 14, 2025, Banjaran Asset Management (Cambodia) Plc. participated in a key national seminar focused on "Understanding Investment Instruments and Financing in the Securities Sector." The event, held at the NSSF Headquarters, was organized by the Securities and Exchange Regulator of Cambodia (SERC) and the National Social Security Fund (NSSF) in collaboration with the National Social Security Fund (NSSF), with the support of Cambodia Securities Exchange (CSX), ACLEDA Securities Plc., Banjaran Asset Management (Cambodia) Plc., and Gold Financial Global Investment Co., Ltd. (GFG). It brought together more than 150 participants, including government officials and financial professionals. H.E. Kim Keoreaksmey, Deputy Director General of NSSF, expressed appreciation for the positive impact of the NSSF card in helping citizens with hospital bills and medical expenses, while reinforcing NSSF’s commitment to delivering essential social security and financial services for the benefit of its members. He also acknowledged the importance of investment opportunities in complementing social protection and ensuring long-term sustainability. His remarks reflect the strong support and recognition from high-level government leadership, underscoring the strategic importance of Banjaran AMC collaboration with NSSF in advancing national welfare and long-term economic growth. Mr. Eric Loo , CEO & Executive Director of Banjaran Asset Management (Cambodia) Plc., was at the forefront, highlighting our company’s role as a pioneer in Cambodia’s emerging fund management market. His vision and leadership have been instrumental in advancing new fund initiatives and establishing Banjaran AMC as a first mover in the market. Mr. Low Hon-Yu and Mr. Christopher Wong , our Singapore-based Board Members, also attended to show their full support for this important national effort. This powerful combination of local leadership and global expertise is what sets Banjaran AMC apart. Banjaran AMC's commitment to building a stronger market didn't go unnoticed. H.E. Sou Socheat , Delegate of the Royal Government in charge as Director General of SERC, showed great appreciation as one of the sponsorships in the success of the seminar, and its dedication to educating investors and developing the market. This high-level recognition underscores our crucial role in building trust and spreading knowledge throughout Cambodia’s financial ecosystem. Mr. Nhem Sopaul , Corporate Manager of Banjaran AMC, delivered a presentation on "Collective Investment Schemes (CIS)" that simplified complex financial topics for NSSF officials. He illustrated how these funds can create disciplined, diversified opportunities for everyday Cambodians, reflecting our commitment to empowering investors. Our pioneering work and focus on education sparked a great deal of interest at the seminar. It led to powerful networking and meaningful conversations, with several executives showing interest in our funds. This signals that our efforts to lead the way in Cambodia's investment market are truly succeeding and solidifying our reputation as a trusted market leader. Driven by strong leadership and global expertise, Banjaran AMC is committed to its mission: making investing accessible, promoting financial literacy, and playing a transformative role in Cambodia’s financial future.
Cambodia Capital Markets Assessment Report
On July 11, 2025, Banjaran Asset Management (Cambodia) Plc. had the privilege of participating in the IFC Capital Markets Assessment & Fundraising Event, held at the Hyatt Regency Phnom Penh. This high-level session, hosted by the International Finance Corporation (IFC), brought together key stakeholders across Cambodia’s financial sector—including fund managers, insurance providers, regulators, and banks—to explore strategies for strengthening the country’s capital markets. The discussions centered on unlocking new capital-raising opportunities, with particular emphasis on the development of Cambodia’s bond market as a vehicle for long-term investment and sustainable economic growth. Representing Banjaran AMC were Mr. Aaron Ng , CEO of Banjaran Asset Management Pte Ltd (Singapore), and Mr. Jevin Loo , Business Manager of Banjaran Asset Management (Cambodia) Plc.. During the event, our senior representatives had the opportunity to engage directly with IFC officials, introduce Banjaran AMC’s core mission, and present the impactful work being done through initiatives such as the K-Fund —a Collective Investment Scheme focused on agriculture and empowering local farmers that support the workshop's vision. IFC representatives expressed strong recognition and interest in Banjaran’s vision and ongoing efforts. These interactions helped lay the groundwork for potential future collaboration and opened new doors for strategic engagement in Cambodia’s fast-evolving investment environment. This event marked an important milestone in Banjaran AMC’s ongoing efforts to connect global capital with local opportunity, and to support the development of Cambodia’s financial ecosystem through innovation, transparency, and inclusion.
Banjaran AMC Promotes Smart Investing Through CIS Seminar at Preah Kossamak Polytechnic Institute
On the morning of July 8, 2025, representing Banjaran Asset Management (Cambodia) Plc., Mr. Taing Hoy, Legal and Compliance Officer, delivered an insightful presentation on "Investing in Collective Investment Schemes (CIS)" at Preah Kossamak Polytechnic Institute. His session formed part of the "Intelligent Investment" training program, organized by ACLEDA Securities Plc., with support from the Securities and Exchange Regulator of Cambodia (SERC), the Cambodia Securities Exchange (CSX), and Preah Kossamak Polytechnic Institute., aimed at deepening financial literacy and promoting smart investment practices among students.
National Social Security Fund held an initial meeting to explore investment opportunities with Banjaran Asset Management (Cambodia) Plc.
PHNOM PENH, Cambodia – June 4, 2025 As part of an ongoing review of the country's social security system, an initial meeting took place between the National Social Security Fund (NSSF) of Cambodia and Banjaran Asset Management (Cambodia). The NSSF hosted a key delegation from Banjaran Asset Management (Cambodia) Plc., led by Mr. Eric Loo , CEO and Executive Director to discuss possible collaboration opportunities. The meeting was specially attended and led by two Board of Directors from Banjaran Asset Management Pte Ltd (BAMPL), Singapore. The NSSF's core objectives include enhancing social security benefits for Cambodian citizens and ensuring the prudent management of its funds, and actively contributing to national development initiatives. The meeting discussions centered on the product and services of Banjaran Asset Management (Cambodia) Plc. that corelates to social security fund investments. Both parties expressed strong enthusiasm for this initial meeting as a valuable opportunity to gain mutual understanding of each institution’s goals and services. NSSF representatives welcomed Banjaran AMC's proactive approach and diverse portfolio, recognizing the substantial value such a collaboration could bring –- to strengthening Cambodia's vital social security framework. The meeting concluded with a strong commitment, with hopes that both parties will establish an investment partnership in the near future.
Successful Training on Collective Investment Schemes Held in Kampong Cham
Kampong Cham, Cambodia – May 30, 2025 – A highly successful training session on "Investing in Collective Investment Scheme (CIS)" was held today in Kampong Cham province, providing valuable insights into investment opportunities for attendees. Organized by ACS and supported by Banjaran Asset Management (Cambodia) Plc, the event took place at the National University of Cheasim Kamchaymear at Kampong Cham, Cambodia. Mr. Veasna Monireach, Operation Officer at Banjaran Asset Management (Cambodia) Plc, led the engaging presentation. He delved into the intricacies of Collective Investment Schemes, explaining their benefits, risks, and how individuals can participate in these pooled investment vehicles. The training aimed to enhance financial literacy and empower participants with the knowledge to make informed investment decisions. The event saw a strong turnout, with attendees actively participating in discussions and Q&A sessions, demonstrating a keen interest in understanding investment strategies. This initiative underscores the commitment of ACS and Banjaran Asset Management (Cambodia) Plc to fostering financial education and development within Cambodian communities.
Banjaran AMC at DMUC Careers Fair 2025!
We were proud to be a part of the De Montfort University of Cambodia (DMUC) Careers Fair 2025, an exciting and vibrant event that brought together over 80 leading organizations from sectors including banking, healthcare, hospitality, NGOs, education, and technology. Our team at Banjaran Asset Management (Cambodia) Plc. had a fantastic time engaging with students, recent graduates, and jobseekers who were eager to learn more about the financial and investment industry. From sharing insights into fund management and financial planning to discussing career paths within the non-bank financial sector, our booth was buzzing with conversations, questions, and meaningful connections. We also had interactive activities, giveaways, and plenty of one-on-one discussions with future professionals passionate about shaping Cambodia’s financial future. A heartfelt thank you to all the enthusiastic visitors who stopped by our booth, and to DMUC for hosting such a dynamic platform for employers and jobseekers to connect.
Market Outlook
2025 August Market Outlook: AI and Tech Earnings Fuel Optimism Despite Uncertainty
Investors continue to watch closely for disinflationary indicators and the Fed's response. Despite macro uncertainties, the narrowing credit spread likely indicates the ongoing high investors' risk appetite. The strong earnings from AI-driven tech companies further supported investors' confidence, albeit after a slight June pullback. In Asia, the negative PPI in China reflects Chinese consumers becoming more price-sensitive and cutting back on non-essential spending. Sectors like electric vehicles ("EVs") and food delivery companies have slashed prices to stay competitive. The government launched an "anti-involution" campaign to combat the deepening price wars, and the initiatives such as pricing oversight have shown early signs of effectiveness. Despite this, the Chinese and Hong Kong equity markets have gained, with AI-linked firms and industrial-tech stocks driving market performance. Looking ahead, we remain cautiously optimistic. Despite continued geopolitical tensions and macro uncertainties weighing on sentiment, resilient corporate earnings and tightening credit spreads would likely continue to support the global equity markets, notably in the AI and tech sectors. Meanwhile, we believe the Fed will remain cautious, closely watching sticky inflationary indicators; if inflation continues to ease, gradual rate cuts are likely. In spite of trade reroutes and structural market challenges leading to overcapacity, Asian equity markets performed better than expected, supported by a strengthened macro backdrop. Against this landscape, we maintain a disciplined and balanced approach, grounded in bottom-up fundamental analysis in our portfolio construction.
2025 July Market Outlook: Resilient Earnings and Renewed Trade Ties Keep Investor Confidence Intact
Since June, investor sentiment has gradually improved, supported by resilient corporate earnings, stronger-than-expected macroeconomic indicators, and measured progress in trade diplomacy. Despite lingering policy uncertainty and geopolitical risks, market conditions have remained relatively calm, with volatility largely contained. Trade policy continues to be a central concern. The Trump administration’s 90-day pause on tariffs is set to expire on August 1, with proposed tariffs of up to 50% on autos and consumer electronics still under consideration. However, in spite of looming tariff risks, the successful negotiation of bilateral trade agreements - with Japan, the U.K., and South Korea - has helped bolster investor confidence. The U.S. - Japan deal, which includes a reported US$550 billion investment commitment, has further supported sentiments across Asian markets, which benefits from improved trade ties and regional policy coordination. Meanwhile, the One Big Beautiful Bill (BBB Act), which offers generous tax incentives - including permanent R&D deductions and 100% expensing of production property - has provided notable support to the technology, semiconductor, and data center sectors. While the BBB Act raises concerns over fiscal deficits, it has already helped sustain momentum in pro-growth and AI-exposed equities. In Asia, China’s Q2 GDP growth exceeded expectations, underpinned by strong industrial output and a rebound in exports, driven in part by front-loaded shipments ahead of potential new tariffs. However, weakness in retail sales and property investment underscores China’s continued reliance on external demand and industrial production over domestic consumption - raising expectations for further targeted fiscal support in the second half of 2025. Looking ahead, we remain cautiously optimistic. While U.S. headline CPI rose in June, disinflationary trends are still evident in core components. Profitability remains strong in key sectors, and Asia continues to benefit from trade gains and pro-growth policies. However, with valuation multiples remaining elevated, the upcoming earnings season will play a pivotal role in supporting the valuation premium. With liquidity conditions stable and market volatility subdued, we maintain a disciplined and balanced approach, guided by bottom-up fundamental analysis in our portfolio construction.
2025 June Market Outlook: Resilient Markets in a World of Risk
Since May, markets have continued to operate in an environment marked by policy uncertainty and rising geopolitical risks. The Trump administration’s 90-day pause on “Liberation Day Tariffs” offered temporary relief, but limited progress in broader trade talks - especially with the EU and Japan - has kept investors cautious. While a limited agreement with the U.K. was reached, the overall trade landscape remains unresolved, affecting sentiment and weighing on risk appetite. Geopolitical tensions escalated in June, particularly with the Israel-Iran conflict. Iran’s threat to close the Strait of Hormuz - a key route for around 20% of global oil supply - triggered a sharp rise in oil prices. This has increased concerns about supply disruptions, global shipping rerouting, and broader instability in the region. The timing of this conflict has added complexity to the inflation outlook. Central banks, including the Fed, were preparing for a potential shift toward easing. However, the surge in oil prices has introduced new uncertainty. In its June meeting, the Fed held rates steady and signaled only one possible cut for the rest of the year, citing persistent services inflation and elevated geopolitical risks. A prolonged conflict could keep oil prices elevated, which may delay or limit policy easing. Concerns over U.S. fiscal stability, driven by political gridlock and unresolved budget discussions, have added to the uncertainty. Despite these challenges, we maintain a cautiously optimistic outlook. Disinflationary trends are taking hold, and market volatility has stayed relatively contained. With a potential easing in tariff tensions, expectations of reduced geopolitical friction, and supportive fiscal and probusiness policies in China and the U.S., global equities are expected to continue recovery. Against this backdrop, we maintain a disciplined and balanced approach, guided by bottom-up fundamental analysis in our portfolio construction.
2025 May Market Outlook: Navigating Volatility Amid Trade Tensions and Monetary Policy Caution
Global Markets The global stock market, as represented by the MSCI World Index, rose 0.74% in April. Gains were primarily driven by robust performance in non-U.S. equities and a temporary easing of global trade tensions. While U.S. markets experienced sharp mid-month volatility following the announcement of sweeping new tariffs, a partial rollback—excluding China—helped restore investor confidence. Resilience in large-cap technology stocks and a rotation into defensive sectors also contributed to gains. Additionally, expectations of monetary easing in select developed markets outside the U.S. provided a tailwind, helping global equities recover despite ongoing geopolitical and trade-related uncertainty. General Outlook and Views April began with heightened volatility following the surprise rollout of the “Liberation Day Tariffs,” which included a blanket 10% levy on all imports and steeper country-specific rates. Markets reacted swiftly—equities tumbled, and Treasury yields dropped as risk-off sentiment took hold. A temporary rebound followed the U.S. decision to pause most tariffs, excluding those on China. However, China’s swift retaliation reignited trade tensions, pulling markets lower once again. Despite the volatility and uncertainty, equities have since staged a robust recovery, supported by a tentative trade truce between the two economic powers. Investor sentiment was buoyed by the prospect of renewed negotiations, contributing to a broad-based rally. Meanwhile, the Federal Reserve opted to keep interest rates unchanged, adopting a cautious, data-dependent approach as it assesses the broader impact of trade disruptions. Recession risks, however, remain elevated amid subdued consumer sentiment, persistent macroeconomic headwinds, and the fragile state of U.S.–China trade negotiations. The Fed’s decision to hold rates steady reinforces its wait-and-see stance, while the recent credit rating downgrade by Moody’s has drawn renewed attention to the U.S.’s long-term fiscal vulnerabilities—adding another layer of uncertainty to the market outlook. Nonetheless, we remain cautiously optimistic. While the broader economic landscape remains clouded by trade policy uncertainty and political volatility, the possibility of continued U.S.–China engagement offers some hope for de-escalation and market stabilization. Against this backdrop of fragile trade dynamics, tightening fiscal credibility, and a patient Fed, we remain focused on navigating near-term volatility through disciplined portfolio positioning. We continue to monitor developments closely, recognizing that trade relations, monetary policy, and political developments will remain key drivers of global growth and market stability in the months ahead. Given the current environment, we believe it remains prudent to refrain from significant portfolio shifts until greater policy clarity emerges.
2025 April Market Outlook: Tariff Shocks Rate Dilemmas and China’s Next Move
US tariff announcements have introduced a wave of uncertainty into global markets. While the initial shock caused equities to retreat sharply, sentiment steadied somewhat after the US paused broad-based tariffs for most countries, leaving China as the primary target for higher levies. This erratic policy approach has unsettled businesses and investors alike, with US Treasury yields responding with unusual speed. We are keeping a close eye on trade negotiations, particularly those involving China, as their outcomes could significantly influence market direction in the coming months. Meanwhile, the Federal Reserve’s decision to hold interest rates steady comes amid mixed signals from the economy. Strong consumer spending and a resilient labour market suggest underlying strength, but inflationary pressures remain a persistent concern. Political calls for rate cuts have added to the noise, yet the Fed’s next steps remain uncertain. For now, we are watching closely to see how these dynamics unfold, as the interplay between economic data and policy decisions will be critical in shaping the path ahead. In China, the investment climate remains somewhat cloudy amid ongoing tensions with the US. While fiscal stimulus measures announced during the Two Sessions meeting provide some support, including efforts to boost consumption and bolster key industries, we believe there is scope for further measures in the coming months.
2025 March Market Outlook: Cautious Optimism Amid Policy Shifts and Economic Uncertainty
The conclusion of China’s Two Sessions has injected optimism into the Chinese and Hong Kong markets. Key policy measures include maintaining a 5% growth target and increasing deficit spending to 4% of GDP. Beijing has also pledged greater support for the private sector and cutting-edge technologies. Investors’ reaction to these announcements have been positive so far as the government is shifting priority to restoring the private sector and help drive economic growth. In our view, this positive momentum is still in its early stages, given how negative global sentiment towards China has been over recent years. US-led trade tariff hikes have introduced significant political and economic uncertainty, primarily through passing higher costs for consumers and businesses, alongside the threat of retaliatory measures from trading partners. This has contributed to market instability and has dampened business optimism. We are cautious about trade-related developments due to their potential impact on global supply chains. However, we believe it is too early to make significant portfolio adjustments, as supply chains have historically demonstrated resilience to changing conditions. US consumer sentiment has dropped suddenly as rising inflation expectations weigh on confidence. Consumers are growing more cautious with spending, fearing a decline in purchasing power. This hesitation is reinforced by slowing economic indicators such as retail sales. A closer look at the data reveals a significant decline in sales at food service establishments, which could signal weakening consumer demand. We will closely monitor whether this is a temporary fluctuation or the beginning of a broader negative trend. At this time, we are still comfortable with our risk positioning, which remains well-diversified across various sectors and regions.