{"id":6948,"date":"2026-01-12T08:23:35","date_gmt":"2026-01-12T08:23:35","guid":{"rendered":"https:\/\/galileeinvestment.com\/?page_id=6948"},"modified":"2026-01-14T08:07:51","modified_gmt":"2026-01-14T08:07:51","slug":"q1-2026-newsletter","status":"publish","type":"page","link":"https:\/\/galileeinvestment.com\/zh\/q1-2026-newsletter","title":{"rendered":"Q1 2026 Newsletter"},"content":{"rendered":"<div data-elementor-type=\"wp-page\" data-elementor-id=\"6948\" class=\"elementor elementor-6948\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-vxa65ev elementor-section-boxed elementor-section-height-default elementor-section-height-default elementor-invisible\" data-id=\"vxa65ev\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;animation&quot;:&quot;fadeIn&quot;}\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-no\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-6815a44\" data-id=\"6815a44\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-ad126a0 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"ad126a0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-cd9815a elementor-absolute elementor-widget elementor-widget-heading\" data-id=\"cd9815a\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_position&quot;:&quot;absolute&quot;}\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\">Q1 Investors' Newsletter <br> January 2026<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t<div class=\"elementor-element elementor-element-edbee3d e-flex e-con-boxed e-con e-parent\" data-id=\"edbee3d\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-ae9af9c elementor-widget elementor-widget-spacer\" data-id=\"ae9af9c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-ab5e16c elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"ab5e16c\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-48b4075\" data-id=\"48b4075\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-e6a09ce elementor-widget elementor-widget-heading\" data-id=\"e6a09ce\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\">Galilee Investment Management <\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f2d5a6b elementor-widget elementor-widget-heading\" data-id=\"f2d5a6b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\"><span style=\"font-size: 29px;font-style: normal\">Message from Chief Operating Officer<\/span><\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-fd08d43 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"fd08d43\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-9a9d5a5\" data-id=\"9a9d5a5\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-a3c4df9 elementor-widget__width-initial elementor-widget elementor-widget-image\" data-id=\"a3c4df9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"199\" height=\"200\" src=\"https:\/\/galileeinvestment.com\/wp-content\/uploads\/2023\/10\/franklin_team.png\" class=\"attachment-medium size-medium wp-image-4749\" alt=\"\" srcset=\"https:\/\/galileeinvestment.com\/wp-content\/uploads\/2023\/10\/franklin_team.png 199w, https:\/\/galileeinvestment.com\/wp-content\/uploads\/2023\/10\/franklin_team-150x150.png 150w\" sizes=\"(max-width: 199px) 100vw, 199px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-887fdb7 elementor-widget__width-initial elementor-widget elementor-widget-text-editor\" data-id=\"887fdb7\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"text-align: center;\"><strong>\u00a0<\/strong><\/p><p><b>Mr. Franklin Chua,\u00a0<\/b><\/p><p><b>COO<\/b><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-378a12a\" data-id=\"378a12a\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-286044e elementor-widget elementor-widget-heading\" data-id=\"286044e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-medium\"><b>Dear Investors,<\/b><\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8463fbf elementor-widget__width-initial elementor-widget elementor-widget-text-editor\" data-id=\"8463fbf\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Warmest wishes for a Happy New Year. We sincerely hope that 2026 brings you continued success, good health, and meaningful new opportunities.<\/p>\n<p>As we usher in the new year, I would like to express my heartfelt appreciation for the progress we have achieved together over the past few years. I am pleased to report that all our funds performed strongly throughout 2025. Detailed performance insights will be shared by each team in their respective fund updates.<\/p>\n<p>On the philanthropic front, our sister organisation, Galilee Foundation, has been presented with a meaningful opportunity to explore the establishment of a school in Cambodia. Preparatory efforts are currently underway, encompassing planning and renovation works to ensure the facilities meet the required standards for a safe and conducive learning environment. In parallel, we have initiated the early stages of recruiting qualified teaching professionals, with a strong emphasis on building a committed and capable team to support the school\u2019s educational mission and long-term sustainability.<\/p>\n<p>Looking ahead, we remain optimistic about the year ahead, with potential new VCC partnerships and sub-fund launches currently in the pipeline.<\/p>\n<p>Do explore the fund-specific updates by clicking on the button below!<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t<div class=\"elementor-element elementor-element-89fe29e e-grid e-con-boxed e-con e-parent\" data-id=\"89fe29e\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-cb97958 elementor-align-center elementor-widget__width-initial elementor-widget elementor-widget-button\" data-id=\"cb97958\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"#GIFVCCSF1\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Galilee Fixed INcome FUnd<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b742a49 elementor-align-center elementor-widget__width-initial elementor-widget elementor-widget-button\" data-id=\"b742a49\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"#CPF\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Compounder Fund<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a4fed43 elementor-align-center elementor-widget__width-initial elementor-widget elementor-widget-button\" data-id=\"a4fed43\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"#VCF\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Vision capital fund<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-af7d837 elementor-align-center elementor-widget__width-initial elementor-widget elementor-widget-button\" data-id=\"af7d837\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"#SMA\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">SMA<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-0423430 e-flex e-con-boxed e-con e-parent\" data-id=\"0423430\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-3256ec4 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"3256ec4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-07c2575 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"07c2575\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-fd8bda9\" data-id=\"fd8bda9\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-64ace73 elementor-widget elementor-widget-heading\" data-id=\"64ace73\" data-element_type=\"widget\" data-e-type=\"widget\" id=\"GIFVCCSF1\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\">Galilee Fixed Income Fund<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-ecdde24 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"ecdde24\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-a655e4d\" data-id=\"a655e4d\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-86d3b19 elementor-widget elementor-widget-text-editor\" data-id=\"86d3b19\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong><u>Fund Description:<\/u>\u00a0The Fund adopts a diversified investment strategy focusing on sourcing and evaluating public and private fixed income products, specifically in areas of specialty financing, senior\/subordinate real estate backed debt, factoring\/trading financing, direct lending and corporate bonds, offered globally, to provide investors with a stable and consistent dividend yield through the market cycle.<\/strong><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e93aa81 elementor-widget elementor-widget-heading\" data-id=\"e93aa81\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-large\">Fund Updates<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-60ebd4b elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"60ebd4b\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-847ce93\" data-id=\"847ce93\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-0f1b7d3 elementor-widget__width-initial elementor-widget elementor-widget-text-editor\" data-id=\"0f1b7d3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p data-start=\"233\" data-end=\"419\">We are pleased to announce that s<span style=\"font-style: inherit; font-weight: inherit;\">ince inception, the <\/span><span style=\"font-style: inherit;\"><b>Galilee Fixed Income Fund<\/b><\/span><span style=\"font-style: inherit; font-weight: inherit;\"> has delivered a <\/span><strong style=\"font-style: inherit;\" data-start=\"819\" data-end=\"862\">consistent annualized return of over 9%<\/strong><span style=\"font-style: inherit; font-weight: inherit;\">, with <\/span><strong style=\"font-style: inherit;\" data-start=\"869\" data-end=\"899\">quarterly dividend payouts<\/strong><span style=\"font-style: inherit; font-weight: inherit;\"> \u548c <\/span><strong style=\"font-style: inherit;\" data-start=\"904\" data-end=\"950\">no defaults across 14 consecutive quarters<\/strong><span style=\"font-style: inherit; font-weight: inherit;\">, highlighting our commitment to capital preservation and steady income generation.<\/span><\/p><p data-start=\"1035\" data-end=\"1280\">Over the next 12 to 24 months, the Galilee Fixed Income Fund intends to selectively allocate capital to Cambodia-focused investment opportunities that demonstrate compelling growth prospects consistent with our return objectives. We will provide further updates as a number of potential projects progress through our evaluation pipeline.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-e8349ee elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"e8349ee\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-cd24abe\" data-id=\"cd24abe\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-0d5b265 elementor-widget__width-initial elementor-widget elementor-widget-text-editor\" data-id=\"0d5b265\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"text-decoration: underline;\"><strong>Manhattan Special Economic Zone (MSEZ) &#8211; Affordable Housing Update<\/strong><\/span><\/p><p>We are pleased to provide an update on our affordable housing initiative within the Manhattan Special Economic Zone (MSEZ) in Cambodia. We are currently engaging architectural services to develop the schematic design for the housing development. Each home is being carefully planned to strike a balance between cost efficiency and functional quality, ensuring the units remain affordable while meeting essential living standards.<\/p><p>The design process also incorporates broader planning considerations, including sustainable waste management solutions and thoughtfully designed green spaces. Our goal is to create a well-planned, environmentally responsible, and livable residential community that addresses the long-term needs of its residents.<\/p><p>Additionally we would also like to share insights from the <a href=\"https:\/\/khmertimeskh.com\/501796083\/manhattan-special-economic-zone-a-cambodian-industrial-economy-model-guiding-cambodia-vietnam-economic-corridor\/\" target=\"_blank\" rel=\"noopener\">article<\/a> on the MSEZ, highlighting its role as a model for industrial and economic development in Cambodia. The article also notes that Galilee Foundation plans to establish a nursery in MSEZ, with a gradual expansion into a K\u201312 international school and Galilee Fund will develop 2,000\u20133,000 affordable housing units surrounding the park, providing fair and stable housing for workers and managers.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-8510a3f elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"8510a3f\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-3754f06\" data-id=\"3754f06\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-3c5f1b1 elementor-widget elementor-widget-text-editor\" data-id=\"3c5f1b1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"text-decoration: underline;\"><strong>Launch of enoVestor App<\/strong><\/span><\/p><p>We are excited to announce the official launch of the enoVestor App for the Galilee Fixed Income Fund in November 2025, developed in collaboration with our fund administrator. The app is designed to provide investors with a seamless and convenient way to access fund information and stay updated.<\/p><p>For investors who have already been onboarded, we welcome your thoughts and feedback to help us enhance your experience.\u00a0<span style=\"font-style: inherit; font-weight: inherit;\">For those who have not yet completed the onboarding process but are interested in accessing the app, please reach out to us to get started.<\/span><\/p><p>The enoVestor App marks another step in our commitment to providing transparent, accessible, and efficient fund management for all our investors.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t<div class=\"elementor-element elementor-element-40f5dae e-flex e-con-boxed e-con e-parent\" data-id=\"40f5dae\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-0b0dabc elementor-arrows-position-inside elementor-pagination-position-outside elementor-widget elementor-widget-image-carousel\" data-id=\"0b0dabc\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;slides_to_show&quot;:&quot;1&quot;,&quot;navigation&quot;:&quot;both&quot;,&quot;autoplay&quot;:&quot;yes&quot;,&quot;pause_on_hover&quot;:&quot;yes&quot;,&quot;pause_on_interaction&quot;:&quot;yes&quot;,&quot;autoplay_speed&quot;:5000,&quot;infinite&quot;:&quot;yes&quot;,&quot;effect&quot;:&quot;slide&quot;,&quot;speed&quot;:500}\" data-widget_type=\"image-carousel.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-image-carousel-wrapper swiper\" role=\"region\" aria-roledescription=\"carousel\" aria-label=\"Image Carousel\" dir=\"ltr\">\n\t\t\t<div class=\"elementor-image-carousel swiper-wrapper\" aria-live=\"off\">\n\t\t\t\t\t\t\t\t<div class=\"swiper-slide\" role=\"group\" aria-roledescription=\"slide\" aria-label=\"1 of 1\"><a data-elementor-open-lightbox=\"yes\" data-elementor-lightbox-slideshow=\"0b0dabc\" data-elementor-lightbox-title=\"image (1)\" data-e-action-hash=\"#elementor-action%3Aaction%3Dlightbox%26settings%3DeyJpZCI6Njk1NywidXJsIjoiaHR0cHM6XC9cL2dhbGlsZWVpbnZlc3RtZW50LmNvbVwvd3AtY29udGVudFwvdXBsb2Fkc1wvMjAyNlwvMDFcL2ltYWdlLTEucG5nIiwic2xpZGVzaG93IjoiMGIwZGFiYyJ9\" href=\"https:\/\/www.bytedc.com\/blogs\/bytedc-solutions-and-orel-it-in-exclusive-partnership-to-empower-channel-partners-to-provide-world-class-cybersecurity-solutions-in-cambodia\" target=\"_blank\"><figure class=\"swiper-slide-inner\"><img decoding=\"async\" class=\"swiper-slide-image\" src=\"https:\/\/galileeinvestment.com\/wp-content\/uploads\/2026\/01\/image-1-768x408.png\" alt=\"image (1)\" \/><\/figure><\/a><\/div>\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-2bb6cf9 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2bb6cf9\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-fb8b830\" data-id=\"fb8b830\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-ea7dcff elementor-widget elementor-widget-text-editor\" data-id=\"ea7dcff\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"font-size: 16px; font-style: normal; font-weight: 400;\"><a style=\"font-size: 1rem; background-color: #ffffff; outline: 0px;\" href=\"https:\/\/forms.gle\/Ybf6Qs323RcWGBMh8\" target=\"_blank\" rel=\"noopener\">\u70b9\u51fb\u6b64\u5904\u00a0<\/a><span style=\"font-style: inherit; font-weight: inherit;\">or\u00a0<\/span><span style=\"font-size: 1rem;\">contact<\/span><span style=\"font-size: 1rem;\">\u00a0<\/span><a style=\"font-size: 1rem; background-color: #ffffff;\" href=\"mailto:investor_relations@galileeinvestment.com\" target=\"_blank\" rel=\"noopener\">investor_relations@galileeinvestment.com<\/a><span style=\"font-style: inherit; font-weight: inherit;\">\u00a0if you wish to find out more!<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-81b0ebf elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"81b0ebf\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-2891787\" data-id=\"2891787\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-f59ecaf elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"f59ecaf\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t<div class=\"elementor-element elementor-element-f4f575e e-flex e-con-boxed e-con e-parent\" data-id=\"f4f575e\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-768a5ef elementor-widget elementor-widget-heading\" data-id=\"768a5ef\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-large\">Latest Economic Developments in Cambodia<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-45b4761 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"45b4761\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-b275be6\" data-id=\"b275be6\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-aa68ceb elementor-widget elementor-widget-image\" data-id=\"aa68ceb\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.khmertimeskh.com\/501813989\/efpc-reviews-measures-on-affordable-housing\/\" target=\"_blank\">\n\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"750\" height=\"440\" src=\"https:\/\/galileeinvestment.com\/wp-content\/uploads\/2026\/01\/114097.jpg\" class=\"attachment-full size-full wp-image-7013\" alt=\"\" srcset=\"https:\/\/galileeinvestment.com\/wp-content\/uploads\/2026\/01\/114097.jpg 750w, https:\/\/galileeinvestment.com\/wp-content\/uploads\/2026\/01\/114097-300x176.jpg 300w, https:\/\/galileeinvestment.com\/wp-content\/uploads\/2026\/01\/114097-18x12.jpg 18w\" sizes=\"(max-width: 750px) 100vw, 750px\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-cb4f4ba\" data-id=\"cb4f4ba\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-ea533f2 elementor-widget elementor-widget-heading\" data-id=\"ea533f2\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-large\"><a href=\"https:\/\/www.khmertimeskh.com\/501813989\/efpc-reviews-measures-on-affordable-housing\/\" target=\"_blank\">EFPC reviews measures on affordable housing<\/a><\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b23979a elementor-widget elementor-widget-text-editor\" data-id=\"b23979a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>The Economic and Financial Policy Committee (EFPC) Monday held a review meeting on the draft policy of the development of social and affordable housing, a strategic initiative aimed at addressing the growing demand for affordable residential options among low- and medium-income families. <a href=\"https:\/\/www.khmertimeskh.com\/501813989\/efpc-reviews-measures-on-affordable-housing\/\" target=\"_blank\" rel=\"noopener\">Full article here (Khmer Times).<\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-ad0a668 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"ad0a668\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-0712b17\" data-id=\"0712b17\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-715115b elementor-widget elementor-widget-image\" data-id=\"715115b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.khmertimeskh.com\/501799283\/cambodias-construction-investment-surges-to-over-7b\/\" target=\"_blank\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"750\" height=\"440\" src=\"https:\/\/galileeinvestment.com\/wp-content\/uploads\/2026\/01\/112854.jpg\" class=\"attachment-full size-full wp-image-6967\" alt=\"\" srcset=\"https:\/\/galileeinvestment.com\/wp-content\/uploads\/2026\/01\/112854.jpg 750w, https:\/\/galileeinvestment.com\/wp-content\/uploads\/2026\/01\/112854-300x176.jpg 300w, https:\/\/galileeinvestment.com\/wp-content\/uploads\/2026\/01\/112854-18x12.jpg 18w\" sizes=\"(max-width: 750px) 100vw, 750px\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-17d522c\" data-id=\"17d522c\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2548868 elementor-widget elementor-widget-heading\" data-id=\"2548868\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-large\"><a href=\"https:\/\/www.khmertimeskh.com\/501799283\/cambodias-construction-investment-surges-to-over-7b\/\" target=\"_blank\">Cambodia\u2019s construction investment surges to over $7B<\/a><\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7f62929 elementor-widget elementor-widget-text-editor\" data-id=\"7f62929\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Cambodia approved 3,503 construction projects this year, representing a combined construction floor area of more than 18 million square metres and a total investment value of $7.32 billion \u2014 a significant 68.89 percent increase compared to 2024, according to the Ministry of Land Management, Urban Planning and Construction\u2019s (MLMUPC) report yesterday. <a style=\"background-color: #ffffff;\" href=\"https:\/\/www.khmertimeskh.com\/501799283\/cambodias-construction-investment-surges-to-over-7b\/\" target=\"_blank\" rel=\"noopener noreferrer\" data-start=\"429\" data-end=\"549\" data-is-last-node=\"\">Full article here (Khmer Times)<\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-1075cbf elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"1075cbf\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-135ceda\" data-id=\"135ceda\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-651feec elementor-widget elementor-widget-image\" data-id=\"651feec\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.khmertimeskh.com\/501795902\/cambodia-expands-digital-payments-with-singapore-and-china-enhancing-property-market-access\/\" target=\"_blank\">\n\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"750\" height=\"440\" src=\"https:\/\/galileeinvestment.com\/wp-content\/uploads\/2026\/01\/qr-payment.jpg\" class=\"attachment-full size-full wp-image-6968\" alt=\"\" srcset=\"https:\/\/galileeinvestment.com\/wp-content\/uploads\/2026\/01\/qr-payment.jpg 750w, https:\/\/galileeinvestment.com\/wp-content\/uploads\/2026\/01\/qr-payment-300x176.jpg 300w, https:\/\/galileeinvestment.com\/wp-content\/uploads\/2026\/01\/qr-payment-18x12.jpg 18w\" sizes=\"(max-width: 750px) 100vw, 750px\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-0216cce\" data-id=\"0216cce\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-db172ac elementor-widget elementor-widget-heading\" data-id=\"db172ac\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-large\"><a href=\"https:\/\/www.khmertimeskh.com\/501795902\/cambodia-expands-digital-payments-with-singapore-and-china-enhancing-property-market-access\/\" target=\"_blank\">Cambodia Expands Digital Payments with Singapore and China, Enhancing Property Market Access<\/a><\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-bcc8ddb elementor-widget elementor-widget-text-editor\" data-id=\"bcc8ddb\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Cambodia is making it easier for international buyers and investors to handle real estate transactions with two big updates in digital payments. <a href=\"https:\/\/www.khmertimeskh.com\/501795902\/cambodia-expands-digital-payments-with-singapore-and-china-enhancing-property-market-access\/\" target=\"_blank\" rel=\"noopener\">Full article here (Khmer Times).<\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-e20f669 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"e20f669\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-68a52ca\" data-id=\"68a52ca\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-e98ebae elementor-widget elementor-widget-image\" data-id=\"e98ebae\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.khmertimeskh.com\/501789330\/bright-future-awaits-industrial-real-estate-sector-in-kingdom\/\" target=\"_blank\">\n\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"750\" height=\"440\" src=\"https:\/\/galileeinvestment.com\/wp-content\/uploads\/2026\/01\/111940.jpg\" class=\"attachment-large size-large wp-image-7012\" alt=\"\" srcset=\"https:\/\/galileeinvestment.com\/wp-content\/uploads\/2026\/01\/111940.jpg 750w, https:\/\/galileeinvestment.com\/wp-content\/uploads\/2026\/01\/111940-300x176.jpg 300w, https:\/\/galileeinvestment.com\/wp-content\/uploads\/2026\/01\/111940-18x12.jpg 18w\" sizes=\"(max-width: 750px) 100vw, 750px\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-a8d3975\" data-id=\"a8d3975\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-bc4d70f elementor-widget elementor-widget-heading\" data-id=\"bc4d70f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-large\"><a href=\"https:\/\/www.khmertimeskh.com\/501789330\/bright-future-awaits-industrial-real-estate-sector-in-kingdom\/\" target=\"_blank\">Bright future awaits industrial real estate sector in Kingdom<\/a><\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e0f50de elementor-widget elementor-widget-text-editor\" data-id=\"e0f50de\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>The future looks bright for Cambodia\u2019s industrial real estate sector, which is rapidly emerging as a key pillar of national growth, experts said during a high-level discussion on foreign investment structures in the commercial and industrial property market, held yesterday by AmCham at Connect Centre by realestate.com.kh in Phnom Penh. <a class=\"\" href=\"https:\/\/www.khmertimeskh.com\/501789330\/bright-future-awaits-industrial-real-estate-sector-in-kingdom\/\" target=\"_blank\" rel=\"noopener\" data-start=\"329\" data-end=\"510\">Full article here (Khmer Times)<\/a>.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-feb9078 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"feb9078\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-ee9f1d4\" data-id=\"ee9f1d4\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-ea92343 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"ea92343\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-4075543 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"4075543\" data-element_type=\"section\" data-e-type=\"section\" id=\"CPF\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-d230be0\" data-id=\"d230be0\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4943a5b elementor-widget elementor-widget-heading\" data-id=\"4943a5b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\"><a href=\"https:\/\/compounderfund.com\/\" target=\"_blank\">Compounder Fund<\/a><\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-1752c8c elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"1752c8c\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-d47fc2d\" data-id=\"d47fc2d\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4d8d653 elementor-widget elementor-widget-text-editor\" data-id=\"4d8d653\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong><u>Fund Description:<\/u>&nbsp;<\/strong><b style=\"font-style: inherit;\">Compounder Fund is an open-ended fund that focuses on long-term investing in public equities around the world. The investment strategy is to find Compounders \u2013 public-listed companies that are able to grow their businesses at high-rates over the long run \u2013 through holistic fundamental analysis and holding onto their shares for years. The Fund aims to generate a 12% annualised return, net of all fees, over the long-term.<\/b><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-275aaf8 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"275aaf8\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-a78a9c6\" data-id=\"a78a9c6\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-cd9fff3 elementor-widget elementor-widget-heading\" data-id=\"cd9fff3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-large\">Fund Updates<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-40cf978 elementor-widget elementor-widget-text-editor\" data-id=\"40cf978\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Compounder Fund&#8217;s latest 2025 fourth-quarter letter was published on 13 January 2026 and you can find it <a href=\"https:\/\/docs.google.com\/document\/d\/1sbsdjZXqc8XiqButAURGR3JUBlIiSfEvS90b0OCHPIc\/edit?tab=t.0#heading=h.2dhuxm6whl79\" target=\"_blank\" rel=\"noopener\">here<\/a>.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7472d8d elementor-widget elementor-widget-text-editor\" data-id=\"7472d8d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>If you wish to find out more, please contact <a href=\"mailto:jeremy.chia@galileeinvestment.com\" target=\"_blank\" rel=\"noopener\">jeremy.chia@galileeinvestment.com.<\/a><\/p><p>Visit our website to get the latest updates on the Fund&#8217;s Performance and Investment Theses:\u00a0<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-cb5aef9 elementor-widget elementor-widget-button\" data-id=\"cb5aef9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/compounderfund.com\/\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Compounder fund website<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-7838f10 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7838f10\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-b964b44\" data-id=\"b964b44\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-e0695a4 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"e0695a4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-5cd76c8 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"5cd76c8\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-5694818\" data-id=\"5694818\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-ff0a09e elementor-widget elementor-widget-heading\" data-id=\"ff0a09e\" data-element_type=\"widget\" data-e-type=\"widget\" id=\"VCF\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\">Vision Capital Fund<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-4b39490 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"4b39490\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-723af11\" data-id=\"723af11\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2d381a2 elementor-widget elementor-widget-text-editor\" data-id=\"2d381a2\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong><span style=\"text-decoration: underline;\">Fund Description:<\/span> Vision Capital Fund is an open-ended fund that focuses on long-only global equities. This fund aims to deliver superior, sustainable, compelling long-term (over five years and more) returns for investors by investing in the stock market, specifically in quality, durable, and innovative compounders, riding secular tailwinds that can grow profitably and durably well for a long time at high rates of returns.<\/strong><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-ac5fa6a elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"ac5fa6a\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-007c386\" data-id=\"007c386\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7c7793a elementor-widget elementor-widget-heading\" data-id=\"7c7793a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-large\">Fund Updates<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e256553 elementor-widget elementor-widget-text-editor\" data-id=\"e256553\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>As of 31 Dec 2025, Vision Capital Fund\u2019s Class A shares are up gross +12.7% and net +9.8%, versus the S&amp;P 500\u2019s +17.9%.<u><\/u><u><\/u><u><\/u><\/p><p>Since its inception (Oct 1, 2024), we have continued to outperform, up gross +27.0% and net +21.4%, versus the S&amp;P 500\u2019s +20.7%.<u><\/u><u><\/u><u><\/u><\/p><p><b>While we still outperformed from inception, the weaker Q4 2025 resulted in underperformance for 2025.\u00a0<\/b>While we strive to outperform over the long term, we are unlikely to consistently outperform every year.<u><\/u><u><\/u><u><\/u><\/p><p><b>We can&#8217;t control what the market does in any month, quarter, or year.\u00a0<\/b>Short-term returns come mostly from valuation swings, not business performance. But over time, business returns drive investment returns. That&#8217;s why we stay focused on owning companies that grow profitably, reinvest strongly, and compound durably.<u><\/u><u><\/u><u><\/u><\/p><p><b>Our top 5 largest detractors were Pro Medicus, Zscaler, Wise, Mercado Libre, and The Trade Desk, all of which saw significant price declines.<\/b>\u00a0During the quarter, we took advantage of more attractive price levels to add to 9 of our existing positions: Amazon, Meta, Mercado Libre, NVIDIA, Pro Medicus, ServiceNow, Spotify, TSMC, and Wise, several of which were among our largest decliners.<u><\/u><\/p><p><b>We initiated a 2% position in Sea Limited,<\/b>\u00a0Southeast Asia&#8217;s dominant e-commerce platform with 52% market share, in late December, bringing our total stock holdings to 28. We&#8217;ve long admired management&#8217;s disciplined turnaround since 2024. A 38% drawdown amid profit fears gave us an attractive entry.<u><\/u><u><\/u><u><\/u><\/p><p><b>Our portfolio turnover remains zero.<\/b>\u00a0We intend to own companies for as long as possible &#8211; until growth slows rapidly or our thesis breaks &#8211; so we expect turnover to stay low (&lt;10%). This lets our winners run, rather than trimming our flowers to water our weeds.<u><\/u><u><\/u><u><\/u><\/p><p><b>Most of the money is made by buying, holding, and waiting, rather than by constantly rotating and trading, which most people do.<\/b>\u00a0In the former, we put a lot of effort into making our single buying decision well. Trading requires getting two decisions right \u2014 when to buy and when to sell \u2014 and repeating this indefinitely. Each trade multiplies your chance of error. Some do this well, but we simply don\u2019t think we are any good at it.<u><\/u><u><\/u><u><\/u><\/p><p>We wrote three new investment memos on Spotify, Zscaler, and Sea Limited<b>\u00a0<\/b>during the quarter. You may find all 22 of our memos in\u00a0<a href=\"https:\/\/visioncapitalfund.co\/m\/login?r=%2Fpartner-materials-1https:\/\/visioncapitalfund.co\/m\/login?r=%2Fpartner-materials-1\" target=\"_blank\" rel=\"noopener\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/visioncapitalfund.co\/m\/login?r%3D%252Fpartner-materials-1https:\/\/visioncapitalfund.co\/m\/login?r%3D%252Fpartner-materials-1&amp;source=gmail&amp;ust=1768291569292000&amp;usg=AOvVaw1TzH7YVwd9wVJ93sIDYEOZ\">Partner Materials<\/a>, accessible with your login credentials. You may access our latest 2025 annual letter <a href=\"https:\/\/img1.wsimg.com\/blobby\/go\/a00decfe-f1bc-41d9-86a1-40797fb85fa5\/downloads\/ca4c472d-0d09-4b20-b01e-5cafcd39fa6e\/Vision%20Capital%20Fund%202025%20Annual%20Letter.pdf?ver=1768188145557\">here<\/a>.\u00a0<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-51c8759 elementor-widget elementor-widget-text-editor\" data-id=\"51c8759\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>If you wish to find out more about investing with Vision Capital Fund, don&#8217;t hesitate to get in touch with\u00a0<a href=\"\/zh\/eugene.ng@visioncapitalfund.co\/\">eugene.ng@visioncapitalfund.co<\/a>.<\/p><p>Similarly, you can visit our website to find out more:<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3452d50 elementor-widget elementor-widget-button\" data-id=\"3452d50\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/visioncapitalfund.co\/\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Vision Capital fund website<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-9f4b0e9 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"9f4b0e9\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-86a06fc\" data-id=\"86a06fc\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-ddbaab8 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"ddbaab8\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-7f2ead6 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7f2ead6\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-f8afbb3\" data-id=\"f8afbb3\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-0e27391 elementor-widget elementor-widget-heading\" data-id=\"0e27391\" data-element_type=\"widget\" data-e-type=\"widget\" id=\"SMA\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\">Separately Managed Account (SMA)<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-5cef60a elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"5cef60a\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-43e5d21\" data-id=\"43e5d21\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-95d2631 elementor-widget elementor-widget-text-editor\" data-id=\"95d2631\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>Strategy Description: Frederick Tye is the Portfolio Manager for our Global SMA mandate, a concentrated, value-focused strategy. We employ a &#8220;barbell&#8221; approach, pairing high-quality franchises with opportunistic deep-value plays. We balance this with strategic exposure to short-term US Treasuries, preserving capital during expensive markets to deploy aggressively when attractive opportunities emerge.<\/strong><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-2b87df0 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2b87df0\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-fbb5b09\" data-id=\"fbb5b09\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1f4ef59 elementor-widget elementor-widget-heading\" data-id=\"1f4ef59\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-large\">Investment Updates<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-81a0cec elementor-widget elementor-widget-text-editor\" data-id=\"81a0cec\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>Composite SMA Performance Update (Since Inception)<\/strong>: The mandate commenced operations on 1 August 2025. For the five-month period ending 31 December 2025, the SMA composite delivered a return of 1.41%, net of fees.<\/p><p>After a strong initial deployment in Q3 (reaching a cumulative high of 5.76% in September), the portfolio experienced a drawdown in Q4. We view this non-linear performance as inherent to a concentrated value strategy. We accept short-term volatility, particularly when the underlying businesses remain fundamentally sound.<\/p><p><strong>Portfolio Commentary<\/strong>: Performance in the early months was driven by a robust recovery in our Chinese technology and US consumer growth holdings. We took advantage of the market dislocation in these sectors despite prevailing negative sentiment, as their strong cash flows and dominant market positions appeared disconnected from their depressed share prices.<\/p><p>The Q4 drawdown was driven by price declines in our niche legal finance and consumer staples holdings. We view these declines as temporary; the businesses themselves remain healthy.<\/p><p><strong>A Realized Exit<\/strong>: During the period, we fully exited a position in a Malaysian automotive distributor. Upon re-evaluating the company&#8217;s distribution capabilities, we concluded the franchise was not as resilient as our initial analysis suggested. While we view the original analysis as a mistake, we were fortunate to exit with a realized gain, further bolstered by a strengthening Malaysian Ringgit. We accept the profit, but more importantly, we take the lesson.<\/p><p><strong>Outlook<\/strong>: We enter 2026 with a cautious stance. We continue to hold a healthy cushion in short-duration US Treasuries, valuing the optionality that this liquidity provides. We seek both wonderful companies at fair prices and fair companies at wonderful prices. We remain patient, ready to deploy capital into either bucket when the odds are stacked in our favour.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d8a9e68 elementor-widget elementor-widget-text-editor\" data-id=\"d8a9e68\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>If you wish to find out more, please contact fred@mscap.sg<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-1e74af3 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"1e74af3\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-8a03b5a\" data-id=\"8a03b5a\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-3de14b8 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"3de14b8\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2d87c77 elementor-widget elementor-widget-heading\" data-id=\"2d87c77\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\">Contact us<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-58f6f7d elementor-widget elementor-widget-text-editor\" data-id=\"58f6f7d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-style: inherit; font-weight: inherit;\">Kindly email us at <\/span><a style=\"font-style: inherit; font-weight: inherit; background-color: #ffffff;\" href=\"mailto:investor_relations@galileeinvestment.com\" target=\"_blank\" rel=\"noopener\">investor_relations@galileeinvestment.com<\/a><span style=\"font-style: inherit; font-weight: inherit;\">&nbsp;or contact your usual Galilee contact if you have any questions, feedback or changes to your personal details. (Bank account, handphone, email address, residential address etc.)&nbsp;<\/span><span style=\"font-size: 1rem;\">Kindly also inform us if you cease to be an Accredited Investor under the SFA at any time.&nbsp;<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-95352a0 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"95352a0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d3eab0b elementor-widget elementor-widget-button\" data-id=\"d3eab0b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"http:\/\/investor_relations@galileeinvestment.com\/zh\/\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Email us<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-d495ce5 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"d495ce5\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-15db0bb\" data-id=\"15db0bb\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4d75dcd elementor-widget elementor-widget-heading\" data-id=\"4d75dcd\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\">Disclaimer<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2b69ddd elementor-widget elementor-widget-text-editor\" data-id=\"2b69ddd\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>This confidential Newsletter (\u201cNewsletter\u201d) has been prepared by Galilee Investment Management Pte Ltd (\u201cGalilee\u201d) for distribution to selected recipients only. This Newsletter is for information purposes and shall not be construed as investment advice or for marketing purposes. While reasonable care has been taken to prepare this document, the information contained herein may not be relied upon for accuracy or completeness; and any opinion or estimate contained in this document is subject to change without notice. This Newsletter must not be published, circulated, reproduced or distributed, in whole or part, to any other person without the prior consent from Galilee. Galilee makes no assurance that the future performance of any specific investment, investment strategy, or product made reference to directly or indirectly in this newsletter (article), will be profitable, equal any corresponding indicated historical performance level(s), or be suitable for your portfolio given changing market conditions. Please consult a professional investment consultant prior to making any investment decision.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t<div class=\"elementor-element elementor-element-330a735 e-flex e-con-boxed e-con e-parent\" data-id=\"330a735\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-78576f9 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"78576f9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>","protected":false},"excerpt":{"rendered":"<p>Q1 Investors&#8217; Newsletter January 2026 Galilee Investment Management Message from Chief Operating Officer \u00a0 Mr. Franklin Chua,\u00a0 COO Dear Investors, Warmest wishes for a Happy New Year. We sincerely hope that 2026 brings you continued success, good health, and meaningful new opportunities. As we usher in the new year, I would like to express my [&hellip;]<\/p>","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"site-sidebar-layout":"no-sidebar","site-content-layout":"page-builder","ast-site-content-layout":"full-width-container","site-content-style":"unboxed","site-sidebar-style":"unboxed","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"disabled","ast-breadcrumbs-content":"","ast-featured-img":"disabled","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"class_list":["post-6948","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/galileeinvestment.com\/zh\/wp-json\/wp\/v2\/pages\/6948","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/galileeinvestment.com\/zh\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/galileeinvestment.com\/zh\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/galileeinvestment.com\/zh\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/galileeinvestment.com\/zh\/wp-json\/wp\/v2\/comments?post=6948"}],"version-history":[{"count":86,"href":"https:\/\/galileeinvestment.com\/zh\/wp-json\/wp\/v2\/pages\/6948\/revisions"}],"predecessor-version":[{"id":7047,"href":"https:\/\/galileeinvestment.com\/zh\/wp-json\/wp\/v2\/pages\/6948\/revisions\/7047"}],"wp:attachment":[{"href":"https:\/\/galileeinvestment.com\/zh\/wp-json\/wp\/v2\/media?parent=6948"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}