Fintech & EM-focused Analyst, KT Capital Group

Alec Tseung

Alec is a partner in KT Capital Group and has acted as the interim CFO for a few Fintech and Web 3 companies.

He currently also serves the Research & Investments Partner at Re:base Ventures (rebase.vc), a Web3 and DeFi investment firm with a strong focus on building and incubation. 

Previously, he spent time with Tencent, where he was responsible for the group's investments in the overseas markets (Southeast Asia, the Middle East, and Europe). 

Prior to Tencent, he was in the Principal Investments team at Swiss Re, where he focused on driving the group's investments into financial services and Fintech sectors in APAC. 

He has been responsible for a wide range of investments and transactions (venture/growth, buyout, direct secondaries, etc.) totaling >$5 billion. Alec started his career with Bank of America Merrill Lynch.

Fintech & EM-focused Analyst

Lifenet: A Rejuvenated InsurTech Story in Japan

Kyobo Life: Challenging Sector Outlook with Most Existing Shareholders Hoping to Get Out

5 Charts to Gauge the Progress of China Life's "Revitalization" Strategy

Equity Bottom-Up

New China Life Insurance / Equity Bottom-Up

Our bearish view on <a href="https://www.smartkarma.com/entities/new-china-life-insurance-c-h" target="_blank" data-smartkarma-citation="entities:377:1" rel="noopener">New China Life Insurance (1336 HK)</a> is due to the following reasons:<ol>
<li>The company’s latest strategy undid many good results under the previous strategy (insurance quality and margin improvement).</li>
<li>Its new strategy focuses on wealth management and senior care (and healthcare), in which the company has no competitive advantage and faces keen competition from strong incumbents.</li>
<li>There’s no reason to invest in a mediocre life insurer with a mediocre wealth management business in China.</li>
</ol>

Our bearish view on New China Life Insurance (1336 HK) is due to the following reasons:
The company’s latest strategy undid many good results under the previous strategy (insurance quality and margin improvement).
Its new strategy focuses on wealth management and senior care (and healthcare), in which the company has no competitive advantage and faces keen competition from strong incumbents.
There’s no reason to invest in a mediocre life insurer with a mediocre wealth management business in China.


New China Life: The Company’s Latest Strategy Is Taking It Nowhere