“Most portfolios are built to win the bull market and quietly hope for the best in the bear one. We thought it should be the other way around.”
Keith Ouyang, CFA
Portfolio Manager, MissionPath Portfolio Managed Account Services by Phillip Securities Pte LtdKeith Ouyang is the Portfolio Manager for MissionPath Portfolio, a concentrated equity, absolute-return strategy offered under Phillip Securities’ managed account services. Keith brings over two decades of financial services experience spanning banking, financial advisory, and portfolio management.
He began his career in banking (2004–2005), before moving into financial advisory, where he spent over a decade (2006–2017) advising clients on wealth management and financial planning. Since 2018, Keith has focused on portfolio management, applying a disciplined, valuation-driven approach to managing concentrated equity portfolios.
Keith holds a Bachelor of Engineering (Honours) from Nanyang Technological University, and has been a CFA charterholder since 2018. He is also a certified holder of the Associate Estate Planning Practitioner (AEPP) and Chartered Financial Consultant (ChFC) designations.
Shades of Marks, Damodaran & Ackman.
Three thinkers shaped how the portfolio is run. None of them would agree with each other on everything — the discipline sits in the overlap.
Howard Marks
Risk first, cycles alwaysSecond-level thinking: knowing where we are in the cycle, and sizing for the downside before dreaming about the upside. The pendulum swings — we’d rather be roughly right about risk than precisely wrong about return.
Aswath Damodaran
Every story must survive the numbersValuation as discipline: a narrative is only as good as the cash flows behind it. Every holding carries an intrinsic-value estimate — price converges to value, and our gates test exactly that gap.
Bill Ackman
Few ideas, held with convictionConcentration and ownership: a short list of businesses known deeply, weighted to matter, and held through noise. When you truly know what you own, volatility is a price, not a verdict.
A boutique’s independence, a broking house’s depth.
Keith manages his own clients, portfolio, and P&L — on the infrastructure of one of Singapore’s most established broking houses.
Phillip in-house research
Our own bottom-up work is backed by Phillip Securities’ in-house research team and its coverage of Singapore and regional markets — published openly at stocksbnb.com.
Phillip corporate structure
MissionPath Portfolios operates within the managed accounts department of Phillip Securities Pte Ltd — an SGX member firm and holder of a Capital Markets Services licence issued by the Monetary Authority of Singapore, part of the PhillipCapital group.
Custody, execution, compliance
Client assets sit in each client’s own name with Phillip Securities as custodian; execution runs through Phillip’s dealing desk; and the mandate operates under Phillip’s compliance and regulatory oversight.
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