Singapore-based investment firm 3 Degrees Asset Management has announced that Michael Gilmore has joined the firm as a managing principal. He will be responsible for overseeing the firm's daily operations, sit on the investment committee and act as a portfolio manager of the ADF Special Opportunities fund.
Gilmore has more than 12 years of Asian equity market experience to as the former head of Asian consumer and media research for both Nomura and UBS. He was previously dead of Indonesian research for UBS, having earlier held the same position DBS Securities.
'Michael epitomises the calibre of the 3 Degrees investment team, having been recognised, on numerous occasions, as one of Asia's leading equity analysts,' says 3 Degrees managing principal and founder Moe Ibrahim.
'He joins at a time when global default rates are rising and equity markets are hitting bear territory. As default rates rise, equity valuations will collapse, creating an opportunity to acquire world-class Asian companies at fire-sale valuations. Michael's impressive track record in Asian equities, coupled with our expertise in Asian distressed debt, will cement 3 Degrees at the top of the performance charts.'
Says Gilmore: '3 Degrees has already established itself as a highly respected player in the Asian distressed debt market. I look forward to leveraging off that position to help the firm grow in both its existing and new product lines.'
The firm, which has more than USD400m in assets under management and manages the flagship Asian Debt Fund, employs 25 professionals and has access to a network of more than 2,000 individuals throughout Asia.