Senior Investment Professionals


AP Capital has a seasoned team investment professionals, with extensive experience and track records delivering superior investment returns.

AP Asset Management //

Yu-Ming Yung

Portfolio Manager

Mr. Yu-Ming Yung is the Portfolio Manager of the AP Asia Alpha Strategy Fund. Prior to joining AP Asset Management in early 2014, Yu-Ming was an Executive Director and Senior Portfolio Manager at Nomura’s Angel Lane Principal Strategies (ALPS) in Hong Kong during 2013, where he managed a regional equity long/short portfolio. From 2005 to 2012 he was an Executive Director and Portfolio Manager at UBS O’Connor Hong Kong, managing various Asia Pacific long/short equity portfolios. Yu-Ming started his career first in economic research in Sydney, Australia in Jan 1995, before joining the asset management industry as an investment analyst in Asian equities in 1997. Since then, he has been an investment manager/investment banker at various institutions including Government of Singapore Investment Corporation (GIC), UBS Warburg and ARA Asset Management (an affiliate of Cheung Kong Group), all in Singapore. His experience encompasses hedge funds, equities, as well as public and private real estate investments. Yu-Ming holds a Bachelor of Economics (First Class Honours) and a Bachelor of Laws, both from the University of Sydney. He is also a CFA charter holder.

Kam-Yuen Chu

Risk Manager

Mr. Kam-Yuen CHU is the Risk Manager and Quantitative Analyst of APAM where he is responsible for portfolio risk management and performance attribution analysis. Kam-Yuen has over 10 years of experience in Finance and Investment Management, with a strong background in Risk and Financial Modelling. Prior to joining AP Asset Management in November 2014, he worked as a Senior Market and Credit Risk Manager at La Francaise in Paris for over 8 years, mainly responsible for managing the risk for various types of investment strategies (Hedge Funds, Insurance Mandates, Long Only Funds, and Structured Products). Kam-Yuen also has rich experience in Operational Risk Management and BCP Analysis as he worked as an Internal Auditor at AXA IM in Paris, prior to working at La Francaise. Kam-Yuen holds two Master degrees, namely a Master of Asset and Risk Management at University of Evry and a Master of Econometrics and Statistics at University of Pantheon-Sorbonne in Paris, where he also earned his Bachelor of Economics degree.

AP Special Situations Group //

Rudi Tsai

Managing Director

Mr. Rudi Tsai is a Managing Director with AP Special Situations Group, with a primary focus on investments in the renewable energy sector. He has over 25 years of experience in corporate and project finance advisory, equity raising and debt financing, with particular expertise in M&A advisory. During his banking tenure, he has built and led teams in a number of major investment banking product lines and held senior management positions with international and regional investment banks, including J.P. Morgan, DBS Bank, Fubon Financial, and Schroders.

Prior to joining AP Capital, Rudi was the Global Head of Project and Structured Finance at Canadian Solar, leading and overseeing regional teams based in Canada, the US, the UK, Japan, and Hong Kong in a global effort to develop and structure various sources of equity and debt funding for development, construction, and investment in utility scale solar photovoltaic projects around the world, with emphasis on financing activities in Japan and the UK, as well as in emerging markets. Rudi was a member of the Global Projects Investment Committee.

Rudi received a Master of Science in Industrial Administration from Tepper School of Business at Carnegie Mellon University and a Bachelor of Science in Applied Economics and Management from Cornell University.

Thomas Ng

Managing Director

Mr. Thomas Ng is a Managing Director with SSG and a specialist in the environmental and recycling industries with over 20 years of extensive management, marketing and operational experience in Asia, the US and Europe. He has been the General Manager for a global MNC responsible for the UK and EU markets, where Thomas restructured and turned the existing operations around from a near liquidation to profitable status. He was also previously involved with infrastructure direct investments with Delta Associates and AIG Investment Corporation. A native of Singapore, Thomas completed his undergraduate studies at Illinois State University and an MBA from Rensselaer University.

Ricky Ho

Chief Financial Officer

Mr. Ricky Ho is the Chief Financial Officer of SSG. He has over 16 years of experience in corporate finance, investment, Mergers & Acquisitions and operations. Prior to joining SSG, he was Financial Controller for Fulbond Holdings Ltd, a listed company on the Hong Kong Main Board. He is a member of the Association of Chartered Certified Accountants and he holds a Bachelor of Commerce from Curtin University of Technology, Australia.

Jessica Bao

Fund Manager

Ms Jessica Bao is a Manager with SSG. Prior to joining SSG, Jessica worked as a Senior Market Analyst with Reuters Asia, and an assistant manager with China Merchants Bank. She holds Bachelor in Economics from the Nanjing Audit University, China, and Master degrees in Economics from National University of Singapore.

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