The $1.4 billion funds manager Pengana Capital has hired three new staff to open its firstSingapore office, among them a Platinum Asset Management departee, in what it has called a “strategically timed” move intoAsia.

TheSingapore office will be headed by Douglas Isles, a former investment analyst with Platinum Asset Management, and actuary with the Commonwealth Bank ofAustralia.

Isles will be joined by funds manager Ashley Durante, a former portfolio manager at the Osium Special Situations fund, and Vikas Kurma, a former analyst at the Credit Suisse HOLT Division inSingapore.

Russel Pillemer, chief executive at Pengana Capital, said that the fund planned to grow by having people on the ground inAsia, a region he described as “a key driver of global economic growth”.

“With our strong capital base and long-term focus, we believe we have strategically timed our entry into this market,” he said.

Isles said that there were investment opportunities available to long-term investors, despite the current trend of financial services firms cutting staff.  

“While many peers are downsizing, there is a paradox that the apparently tougher marketing environment is accompanied by an improving investment climate. Given our business objectives, it’s the perfect time to be opening our office inSingapore,” Isles said.