Richard Duncan

Blackhorse Asset Management Pte Ltd. (BAM) is a Singapore-based investment advisor dedicated to providing investment expertise in Asia to clients worldwide. Created by the management team in 2001 to provide global investors with the means to capitalize on Asia's dynamic economic development, as well as information and pricing differences in the Asian financial markets. In addition to their headquarters in Singapore, BAM has a representative office in Ho Chi Minh City, Vietnam which identifies, researches, and assesses potential investment opportunities for the Blackhorse funds.

Fortis Investment Management (UK) Ltd. (FIM-UK) became Fischer Francis Trees & Watts (UK) Ltd. in October 2010, and refocused on fixed income investments. In the course of the integration of Fortis into BNP Paribas, the equity investments previously managed by FIM-UK were taken over by BNP Paribas Investment Partners (UK) Ltd., the dedicated asset management business of BNP Paribas SA (XP: BNP) in France. Established in 2003, FIM-UK is located in London. Their clients include institutions, high-net worth individuals and retail investors. In 2008 the firm absorbed ABN AMRO Asset Management Ltd., following the merger of the asset management activities of Fortis and ABN AMRO worldwide. In 2010 Fortis Investments merged with the existing BNP Paribas Investment Partners Group creating a global investment solutions provider which combines the best that large companies have to offer with the reactivity, specialization and entrepreneurial spirit of investment boutiques.