Meeting of 24 July 2008 – All about Hedge Funds

This week, we got to learn all about Hedge Funds from our speaker, Mr Cheah Chuan Lok, Head of Private Banking of AmInvestment Bank. We also had visitors from our Rotaract Club, who came to tell us about their upcoming Installation.

VISITING ROTARIANS
-None-

GUESTS

• Cheah Chuan Lok (Club Guest)
• President William Kim, Rotaract Club of Gombak (Club Guest)
• Club Service Director, Rotaractor Jacqueline Mak, Rotaract Club of Gombak (Club Guest)

ANNOUNCEMENTS

• Past President Veiven Goon reminded members that the Interact Club of Seri Ampang will be holding their International Understanding Day at 4pm on Saturday 26 July 2008 at the school. Members were encouraged to attend.
• Installation Organising Chair, Vice President Joyce Lim reminded members that there would be an Installation Dinner Meeting after the regular meeting.
• Membership Chair, Rotarian Aimee Liew reminded members that there will be a District Membership Development and Retention Seminar on Sunday 3 August (the same day as our Installation). Members who can should try to attend.
• Club Service Director, Rotaractor Jacqueline Mak, of the Rotaract Club of Gombak gave us a briefing on their upcoming Installation on 16 August 2008, and encouraged our members to attend and support them. [Details here]
  
  

SPEAKER
Mr Cheah Chuan Lok, Head of Private Banking of AmInvestment Bank.

TOPIC
The A-Z of Hedge Funds
According to Wikipedia, a Hedge Fund is: “a private, largely unregulated pool of capital whose managers can buy or sell any assets, bet on falling as well as rising assets, and participate substantially in profits from money invested. It charges both a performance fee and a management fee. Typically open only to qualified investors, hedge fund activity in the public securities markets has grown substantially, accounting for approximately 10% of all U.S. fixed-income security transactions, 35% of U.S. activity in derivatives with investment-grade ratings, 55% of the trading volume for emerging-market bonds, and 30% of equity trades. Hedge Funds dominate certain specialty markets such as trading within derivatives with high-yield ratings and distressed debt.”

Our speaker, tried to cover this complex subject as much as he could in the short time that we had. His presentation was full of examples which made it very interesting.

INTRODUCED BY Past President Veiven Goon ¤ THANKED BY Hon. Treasurer Douglas Brown

PRESIDENT’S ADDRESS

• President Peter Pek reported that there will be around 30 visiting Rotarians from our Sister Clubs will be attending our Installation. He encouraged members who can to attend the Rotary Club of Tanglin’s Installation in Singapore on 2 August, 2008. The other Installations that are coming up include the Rotaract Club of Gombak (16 August - Coca Restaurant, Subang Parade); and Rotary Club of Makati South, Manila (8 September).
• There will be a Joint Meeting with the Rotary Club of Damansara on Thursday, 14 August 2008. There will be no lunch meeting at the Corus Hotel that day.
• President Peter encouraged member who can, to attend the District Membership & Retention Seminar on 3 August 2008 in the morning.

FINEMASTER President Elect Jeff Ho ¤ FINES COLLECTED RM75