Hedge funds help fuel SEA consumer lending boom


  • Business Premium
  • Friday, 26 Jul 2019

Companies that provide short-term consumer loans at high interest rates are on the increase in countries like Indonesia and the Philippines as many people struggle to get advances through traditional channels such as banks.

SINGAPORE: A small but rising number of hedge funds are being established to help finance the boom in online and peer-to-peer lending across South-East Asia.

Pilgrim Asia Consumer Finance Fund, founded by Brian Yonghui Tan and Paul Sheng, aims to raise up to US$20mil in its first year and generate a return for investors of around 8% per annum. It will charge a 2% management fee.

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