Jersey based Stanley Gibbons has opened an office in Singapore, just 18 months after establishing its first Asia office in Hong Kong.
The stamp collecting and investments company opened the office in response to the growing demand from wealthy investors in the region who are looking to diversify their portfolios. There is also a strong base of prestige collectors in the region and of the estimated 60 million stamp collectors worldwide, over two-thirds are based in Asia.
Keith Heddle, group investment director at Stanley Gibbons, says: ‘Our investor base in Asia is growing fast as HNWIs adopt the asset class and look at alternatives not just to mainstream options but also to fine wine, art and most recently, gold. At present, Asian-based investors account for 18 per cent of the value of our portfolios under management. In my travels to Singapore over the last two to three years, there has been a growing interest and a demand for Stanley Gibbons to establish a presence in the island. We have found a maturing investment climate and a growing awareness of the need to diversify into assets that are uncorrelated, but a need for those assets to have a long track record of providing a solid return. For Asia, integrity, authenticity and expertise are also fundamental to doing business there – and with a heritage business like Stanley Gibbons, that all comes in our DNA.”
One of Stanley Gibbons’ customers in Singapore bought what was the most valuable British stamp in 2010, the King George V 6d “IR” Official, which is currently valued at GBP400,000.
The launch reception was held at Eden Hall, the British High Commissioner’s elegant colonial mansion in the heart of Singapore.
The new Singapore office will be headed by John Fairs who comes from a strong financial background. Fairs has 27 years of experience in asset/portfolio management and was formerly at JP Morgan, Chemical Bank and ABN Amro. Most recently he was a portfolio manager for Vulpes Asset Management, covering global bond markets and credit in Singapore. Fairs will be supported by Marco Kaster in the Hong Kong office and the head office in Jersey.
