FOR IMMEDIATE RELEASE
The fund now invests in nearly 900 companies across 17 markets, with AUM exceeding S$600 million and targeting a compound annual growth rate of 7-9%, as investors place greater focus on diversification and downside protection amid volatile markets.
Singapore, 13 April 2026 – Aggregate Asset Management (“AAM”) is expanding the use of its proprietary AI-driven machine learning model, “Deep Deep”, to manage the Aggregate Value Fund (“AVF”), as heightened market volatility drives greater investor focus on diversification and downside protection. The fund targets a compound annual growth rate of 7% to 9%.
Incepted in 2012 as a deep-value fund focused primarily on Asia, AVF’s strategy has since evolved significantly over the last five years due to vast improvements in AI. Today, the fund invests in nearly 900 listed companies across 17 countries, including Singapore, Japan, the United States and Germany, with assets under management exceeding S$600 million.
AI-driven investment strategy
AAM began developing its machine learning capabilities in 2016, years before the adoption of generative AI became mainstream and widely adopted across the asset management industry. Over five years, the firm tested and refined the model using 10 years of historical market data across up to 20 countries before formally integrating machine learning into AVF in 2021.
Today, the model evaluates more than 150 indicators across technical analysis, company fundamentals and academic research to rank stocks with the strongest risk-return profile across each market. These rankings are refreshed and reviewed weekly by human analysts before the portfolio is rebalanced.
“Humans can typically process only five to seven indicators at a time, whereas our machine learning model can evaluate more than 150 factors before a final human review,” said Eric Kong, Co-Founder, Fund Manager and Executive Director at Aggregate Asset Management. “We believe more indicators are necessary for building a more resilient portfolio across different markets and market cycles.”
AAM’s machine learning model has contributed to the resilience of the portfolio. Before machine learning was introduced into the stock-picking process, AVF’s maximum drawdown was 28.85%. Since machine learning was incorporated in 2021, maximum drawdown has improved to around 12.36% as at February 2026. A smaller maximum drawdown indicates that a fund experienced a lower peak-to-trough decline during a market downturn.
Rare in funds: Ultra-diversification
Another key feature of the fund that is rare in today’s market is ultra-diversification. While many actively managed equity funds hold between 30 and 100 stocks, AVF holds close to 900 companies across 17 countries, with even its largest position typically accounting for less than 2% of the portfolio.
This helps to limit the impact of any single stock on the portfolio, making the fund more resilient during periods of market stress.
“In a more volatile world, we believe resilience matters just as much as returns,” said Kevin Tok, Co-Founder and Executive Director at Aggregate Asset Management. “We are not trying to chase the highest returns in strong markets. Instead, we focus on delivering steadier returns over time through diversification, disciplined position sizing and machine learning.”
As at February 2026, AVF delivered annualised returns of 7.92% over five years and 10.95% over three years.
Against a backdrop of heightened market volatility driven by geopolitical tensions, rising oil prices and concerns over inflation, diversification and downside protection are becoming increasingly important for investors. This focus on downside protection was particularly evident during the 2022 market downturn, the most recent major global equity sell-off. While the S&P 500 and broader global indices such as the MSCI ACWI fell close to 20% that year, AVF declined by 6.31%.
ABOUT AGGREGATE ASSET MANAGEMENT
Aggregate Asset Management (AAM) is a Singapore-based fund management company regulated by the Monetary Authority of Singapore. Founded in 2012, AAM focuses on delivering long-term, risk-managed returns through diversified portfolios supported by its proprietary machine learning model and disciplined investment processes.
AAM operates a zero-management-fee model, where fees are charged only when investors generate positive returns, aligning the firm’s interests with its clients. As of February 2026, the firm has delivered a historical compound annual growth rate (CAGR) of 7.27%.
Today, AAM serves around 1,000 accredited investors. Under Singapore regulations, an accredited investor is generally defined as an individual with net personal assets exceeding S$2 million (of which no more than S$1 million can be attributed to their primary residence), annual income exceeding S$300,000, or net financial assets exceeding S$1 million.
For more information, visit aggregate.com.sg
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