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Our Mission

Modular’s mission is to help our investors achieve their purpose by meeting their investment needs.

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About Modular

Modular is a dedicated Asian macro hedge fund manager based in Singapore. The firm exists to meet investors’ needs for stable, uncorrelated and absolute returns through different market cycles – and to offer hedge fund investors greater exposure to Asia.

 

Foundation Story

Modular Asset Management was spun out of Millennium Management in January 2020 by Jimmy Lim and Matthew Cannon. Their vision for the firm was to generate returns that made a difference for Modular’s investors, helping them to deliver on their mandates and fulfil their purposes.

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Leadership Team

Modular’s team of close to 30 people has a combined 270 years of experience in investing and managing risk across Asian markets. The team was formed by Jimmy Lim and initially incubated within Millennium Management, where it developed, tested and strengthened the investment strategy until Modular was launched in January 2020.

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Jimmy Lim

Founder

Mr. Lim is a prominent figure in the Asian hedge fund industry, known for his deep understanding of regional markets.

Before founding Modular, Mr. Lim held senior trading and portfolio management positions at Millennium Management, BlueCrest Capital Management and JP Morgan.

He hand-picked the research and investment team before spinning Modular out of Millennium in January 2020.

Mr. Lim has developed a distinctive Asian macro investment strategy and delivered a long-term track record of generating attractive, stable and consistent returns.

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Matthew Cannon

Co-Founder

Mr. Cannon is a co-founder of Modular. He brings expertise in governance, risk management and financial markets management gained through nearly 30 years of global experience across all

major asset classes.

Mr. Cannon is a former Treasurer and Head of Global Markets at HSBC in Singapore and Korea. He has lived in Asia for over 18 years.

 
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Adrian Foo

Head of Capital Development

Mr. Foo has more than 15 years of experience in capital development for alternative asset managers with a strong focus on Asian macro strategies.

Before joining Modular in October 2021, he was CEO and Head of Investor Relations for Sarvatra Investments, an Asia-focused macro hedge fund. 

He was previously a Managing Director in the Capital Formations Group at Fortress Investment Group and then part of the Fortress Asia team that was successfully spun out to become Graticule Asset Management Asia. Mr. Foo was Managing Director, Investor Relations, at Graticule from 2015 until August 2020. 

Before joining Fortress, he was a Business Development Manager at Rhicon Currency Management, a discretionary hedge fund. Mr. Foo started his career at Bank of Singapore and worked in a number of financial services roles, including advising private clients at Merrill Lynch International Bank, before moving into alternative asset management.

He graduated from the National University of Singapore with Bachelor’s degree in Business Administration.

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David Szmukler

General Counsel and Chief Compliance Officer

Mr. Szmukler is a legal and banking professional with over 25 years of global markets experience.

 

Prior to joining Modular Asset Management, he was a Managing Director at HSBC in the Asset and Structured Finance division and a Co-Head of Structured Credit, EMEA responsible for governance around legal, regulatory and reputational risk matters as well as transaction documentation and execution. Prior to that, Mr. Szmukler was Director, Credit Products Group at TD Securities in New York.

 

He has earned a BSE, BA in Chemical Engineering and Economics from University of Michigan, a Juris Doctorate from New York University School of Law and an MBA, Finance and Tax, from New York University Leonard N Stern School of Business. Mr. Szmukler is a Certified Financial Crime Specialist, a Member of the Florida and New York State Bar and has a diploma in Governance, Risk and Compliance from the International Compliance Association (ICA). 

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Michael Ong

Head of Operations

Mr. Ong is an operations professional with more than 10 years of directly relevant experience. He joined Modular Asset Management directly from his role as Head of Middle Office Operations at Millennium Capital Management Asia, supporting both MAM and other global teams for 5 years.

 

Prior to joining Millennium, he was at Citadel (Hedge Fund Services) in Chicago for 3 years, supporting the Convertible Arbitrage and Commodities business as a Product Controller. After Citadel spun out its Hedge Fund Services out to Northern Trust, he worked in Hong Kong for 2 years supporting various hedge funds.

 

Michael has a BSc. in Finance and Accounting (Business Honours) from Indiana University Bloomington, and is a Certified Public Accountant registered in Chicago, United States.