SPX Capital Management

SPX Capital Management is licensed by the Monetary Authority of Singapore as an External Asset Manager, a regulatory category that allows the firm to manage discretionary portfolios for clients independently of any single private bank. This license subjects the firm to MAS capital, conduct, and reporting requirements while granting the flexibility to custody assets across multiple banks and brokers. The EAM structure is increasingly popular among Asian families who want bespoke mandates without being captive to a single bank's product shelf.

SPX Capital Management deploys capital through separately managed accounts rather than a commingled fund, meaning each client owns their securities directly and can customize parameters around risk, tax, and exclusion lists. The strategy itself focuses on event-driven and relative-value opportunities across Asia-Pacific public equities and credit, blending long-equity positions with opportunistic credit including distressed debt. This mandate architecture gives families direct ownership and liquidity control that a pooled hedge fund structure cannot offer.

The firm's core coverage is Asia-Pacific, with an emphasis on Greater China, Southeast Asia, and Australia. It maintains the capability to allocate to developed markets in North America and Europe when relative-value opportunities shift away from the region. Singapore serves as the sole investment and operational hub, positioning the firm close to its Asian client base and regional information flow.

As an external asset manager, the firm typically charges a fee-only or performance-linked structure on separate accounts, a model that avoids the retrocessions and product-placement fees common in private-bank advisory relationships. The precise fee schedule varies by mandate and is negotiated directly with each client. The absence of a commingled fund means the manager's economics are fully transparent to the families it serves.

SPX Capital Management's known model centers on separately managed accounts rather than commingled funds. The firm has not publicly disclosed any pooled investment vehicles. This structure aligns with the regulatory and commercial logic of Singapore's EAM framework, which is purpose-built for bespoke discretionary mandates rather than mass-distributed fund products.