Beyond the Benchmark: How Active ETFs are Uncovering Singapore's Next Growth Opportunities

Speaker's biography

Ms. Carol Fong, 
Group CEO, CGS International Securities

Ms Carol Fong is Group CEO of CGS International Securities, responsible for the overall management and financial performance of the entire Group’s business, a regional financial services franchise covering Asia Pacific (ex-Japan) as well as offices in London and New York. She was previously Group Head of Equities and Country Investment Banking CEO of CIMB Group, where she was responsible for building up its investment banking business, and key client and regulator relationships in Singapore.

Carol’s experience in financial markets spans over 35 years. She started her career at OCBC Bank and over the past 30 years, she has held a number of senior managerial positions in various stockbroking firms. She is also currently Chairman of the Singapore Exchange’s Securities Advisory Committee and a board member of Securities Commission Malaysia’s Securities Industry Development Corporation.

Carol is a recipient of the 2025 Asia’s Top CEO award by Influential Brands, the Excellence in Leadership award at the Women in Finance Asia Awards 2024 and Executive of the Year – Brokerage award at the Singapore Business Review Management Excellence Awards 2023. She was conferred the IBF Distinguished Fellow award in 2016 in recognition of her role as a beacon of excellence for the financial industry.

Carol is a strong advocate for the empowerment of communities and individuals with lifelong skills in managing personal finances and making better investment decisions for a sustainable tomorrow.

Dr. Li Xiaowei
Deputy CEO and CIO, Fullgoal Fund Management Co., Ltd.

Dr. Li has over 20 years of experience in quantitative investment and research. She joined Fullgoal Fund in 2009 and currently serves as Deputy CEO and Chief Investment Officer, overseeing Quantitative Investment and Asset Allocation. Prior to joining Fullgoal Fund, she served as Head of Greater China Active Equity, Senior Portfolio Manager, and Senior Researcher at Barclays Global Investors in San Francisco from 2005 to 2009. Earlier in her career, she served as Senior Researcher at MSCI Barra from 2003 to 2005.

Ms. Deborah Fuhr
Founder, ETFGI and Women in ETFs

Deborah Fuhr is the managing partner of ETFGI, a leading independent research, event, and consultancy firm in the global ETF and Exchange Traded Products (ETP) industries, which she founded in 2012. She is also the editorial director, producer, and presenter at ETF TV, a show providing monthly insights into the ETF and ETP markets, co-founded in June 2019. 

Previously, Ms. Fuhr was the Global Head of ETF Research and Implementation Strategy at BlackRock, Inc. (2008-2011) and a managing director leading the Investment Strategies Group at Morgan Stanley (1997-2008). She began her career as an associate at Greenwich Associates. 

Ms. Fuhr has served in various prestigious roles, including as an independent trustee of the Renaissance Capital Greenwich Funds and WEBs ETF Trust and the SYNTAX ETF TRUST. She was on the board of WisdomTree (May 2022 – August 2023) and was made a Fellow of CFA UK in January 2020. 

Her numerous accolades include being named among the “100 Most Influential Women in Finance” by Financial News and receiving the ETF.com 2018 lifetime achievement award. She has also contributed to various financial publications and authored the appendix on International ETFs in the CFA Research Foundation book, “The Comprehensive Guide to ETFs.” 

Ms. Fuhr is a co-founder and Board member of Women in ETFs Inc and of Women in ETFs Europe LTD and co-president of Women in ETF EMEA, a non-profit started in 2014 where she champions gender diversity and empowerment. 

She holds a BS degree from the University of Connecticut and an MBA from the Kellogg School of Management at Northwestern University.

Mr.  Cheng Hsing Yuen
CEO, Sasseur Asset Management

Mr. Cheng was appointed Chief Executive Officer ("CEO") of Sasseur REIT on 14 August 2025 and assumed office on 29 October 2025. Prior to this, he served as Chief Operating Officer of the Manager from June 2025, having led Asset Management since 2018. 

In these roles, Mr. Cheng has been responsible for the strategic management of Sasseur REIT’s portfolio of outlet malls in China, with a focus on value creation through proactive asset planning and enhancement initiatives. He brings with him more than 25 years of experience in asset and property management for various asset classes, ranging from retail malls, offices, business parks and industrial buildings. 

Prior to joining Sasseur REIT, Mr. Cheng was the Senior Asset Manager at Mapletree Industrial Trust. He was responsible for developing strategies to maximise the performance of industrial properties including business parks, data centres as well as portfolio reporting. He has also held portfolio management positions in Ascendas Pte. Ltd and NTUC Income. His responsibilities included formulating Key-Performing Index measures for assets, leasing and tenant-relationship management plans and Asset Enhancement programs. He worked closely with the property managers to execute proactive asset management plans to optimise operational and financial performance and manage property expenses. 

Mr. Cheng holds a Master of Science (Real Estate) and Bachelor of Social Sciences (Honours) Degrees from the National University of Singapore.

Mr. Jean Paul Wong
Executive Director, iFast Corporation

Mr. Wong is the Executive Director of Corporate Communications department, which looks after the Investor Relations function for iFAST Corp.

Mr. Wong was part of the team working on the company's IPO on the SGX-ST Mainboard in 2014. In his earlier years with the company, he was part of the Content team producing financial education and other investment-related content. Mr. Wong has been with the company since 2004. He graduated with a degree of Bachelor of Social Sciences in Economics from the National University of Singapore in 2003. Mr. Wong is also part of the Senior Management team.

Mr. Kang Wei Chin, 
Director, Securities Market & Depository, SGX Group

Mr. Kang has over 15 years of experience in the financial industry and leads ETF product management at SGX. He works closely with issuers, market makers, and ecosystem partners to develop and grow the ETF market, driving product innovation and enhancing market liquidity. He is also actively involved in investor education initiatives, promoting the use of ETFs for portfolio construction and diversification.

Before joining SGX, Mr. Kang spent a few years in the financial and capital markets team at Fidelity Bank Ghana. He was actively involved in promoting financial inclusion and debt financing programs for the local government, which helped drive economic development in the country. He holds a Bachelor’s degree in Economics from RMIT University.