FDBAsset
Management
FDBAM

Perspective for today.
A vision for tomorrow.

Connect research with your investment objectives. Explore five investment strategy frameworks: US equity trends, stock–bond allocation, global fixed income, digital-asset-themed securities and aggressive momentum trading（強勢動量突破策略）.

Complete the investment enquiry formExplore the five strategies
BASED IN HONG KONG · A GLOBAL PERSPECTIVE｜立足香港 · 放眼全球
01
Discretionary management / EAM｜全權委託投資管理／外部資產管理人（EAM）DISCRETIONARY PORTFOLIO MANAGEMENT SERVICES / EAM
02
Family office｜家族辦公室FAMILY OFFICE
01 / OUR SERVICES｜服務範疇

Your objectives.
Our starting point.您的目標，我們的規劃起點。

FDBAM focuses on the asset management needs of individuals and families. Investment mandates, portfolio allocation and family wealth coordination are shaped by your circumstances and the agreed scope of service.

01

Discretionary Portfolio Management Services / EAM全權委託投資管理／外部資產管理人（EAM）

Discretionary Portfolio Management Services｜全權委託投資管理
External Asset Managers (EAM)｜外部資產管理人

Within an agreed mandate, the manager aligns portfolio management with your investment objectives and coordinates account and custody arrangements with banks or brokers as agreed. The External Asset Managers (EAM)（外部資產管理人） model is included within this service.

  • Mandate, allocation and ongoing monitoring
  • Manager, bank and broker responsibilities
  • Fees, conflicts and portfolio reviews

Select + to read the answer

What does discretionary management mean?｜全權委託代表甚麼？

Following client assessment and a written agreement and mandate, the investment manager may make day-to-day investment decisions within that mandate without seeking instructions for each trade. Investment scope, limits, fees and termination arrangements depend on the agreement. Capital and returns are not guaranteed.

Who holds the assets?｜資產由誰持有？

Under an EAM（外部資產管理） arrangement, assets are generally held through the client’s account with a bank or broker, while the manager manages investments within the mandate. Account ownership, custody, withdrawal authority and asset protection must be confirmed in the formal documents. No relationship with a particular bank is implied.

02

Family office家族辦公室

A view across generations｜放眼跨代需要

Discuss portfolio allocation, liquidity and longer-term needs in the context of your family’s objectives. Legal, tax and trust matters require appropriately qualified professional advisers.

  • Assets and liquidity planning
  • Family investment objectives
  • Coordination across advisers

Select + to read the answer

Does this include legal or tax advice?｜是否涵蓋法律及稅務意見？

This overview is not a commitment to provide legal, tax or trust services. Work must be agreed within the relevant licensing and professional requirements. Neither “family office” nor “EAM”（外部資產管理人） is a standalone licence category or an automatic licensing exemption.

This is an overview of service models. Available services, eligible clients, minimum assets, fees, investment restrictions and custody arrangements require confirmation by FDBAM under its current licence conditions and formal documentation.

02 / FIVE INVESTMENT STRATEGIES｜五大投資策略

Five strategies.
Five market perspectives.五大投資策略，五種市場視角。

阿言’s investment team approaches different opportunities through distinct investment frameworks. Each has its own objectives, instruments and risks, with decisions made by the investment manager within an agreed discretionary mandate.

These are strategy frameworks, not five SFC-authorised funds or a product list available to every visitor. Services and instruments are subject to FDBAM’s current licence conditions, client eligibility, selling restrictions and a written mandate. This page does not accept subscriptions or trades.

01US EQUITIES · TREND & MOMENTUM｜美股 · 趨勢與動量

阿言’S INVESTMENT TEAM｜阿言投資團隊 ×

US Equity AI Trend Trading｜美股 AI 趨勢交易

Read the signals. Apply investment judgement.｜以數據辨識趨勢，以判斷落實部署。

Discretionary portfolio management · Strategy overview｜全權委託投資管理 · 策略概覽

The strategy uses AI-assisted analysis and trading tools to study US equity prices, trading activity and market signals, seeking potential opportunities in continuing trends and momentum.

The investment manager combines model signals with market judgement to plan trades, size positions and allocate capital. Technology supports analysis and execution; final investment decisions and oversight remain the manager’s responsibility.

  • Study equity prices and trading activity
  • Combine model analysis with human judgement
  • Manage positions within the agreed mandate

Principal risks｜主要風險

Equity prices and exchange rates can fluctuate substantially. Models may fail, lag or produce incorrect signals; repeated trading in sideways markets can increase losses and costs. AI, rebalancing and stop-loss arrangements do not guarantee accurate forecasts, profits or limited losses.

02EQUITY & BOND ETFs · DYNAMIC ALLOCATION｜股債 ETF · 動態配置

阿言’S INVESTMENT TEAM｜阿言投資團隊 ×

Yield Base｜股債配置

Keep room to move between equities, bonds and cash.｜在股票、債券與現金之間，保留主動權。

Discretionary portfolio management · Strategy overview｜全權委託投資管理 · 策略概覽

The principal instruments are US government-bond ETFs and US equity-index ETFs. Subject to opportunities and the mandate, the strategy may also allocate to government-bond or equity-index ETFs in other markets, including Hong Kong and China.

The manager considers macroeconomic conditions and strategy signals when allocating across equities, bonds and cash. Where authorised, cash may range from 0% to 100%, from all cash to full investment in permitted assets. This allocation range is not a promise of immediate rebalancing or withdrawal.

  • Access equity and bond markets through ETFs
  • Use macroeconomic context in allocation decisions
  • Adjust cash within authorised limits

Principal risks｜主要風險

Equities and bonds can decline together. ETFs carry interest-rate, tracking, premium/discount, liquidity and currency risks. Cash holdings may miss market gains. The name Yield Base does not imply capital protection, fixed distributions or guaranteed income.

03GLOBAL BONDS · MONEY MARKETS｜環球債券 · 貨幣市場

阿言’S INVESTMENT TEAM｜阿言投資團隊 ×

Global Markets Strategy｜環球市場策略

Explore fixed-income opportunities through the rate cycle.｜從利率週期出發，尋找固定收益機會。

Discretionary portfolio management · Strategy overview｜全權委託投資管理 · 策略概覽

US Treasuries and related ETFs form the core, with scope under the mandate for bonds and money-market instruments in Europe, Japan and other Asian markets. The objective is to seek interest income and potential capital appreciation.

The manager assesses economic cycles, inflation and central-bank policy alongside credit quality, maturity and interest-rate sensitivity. Unlike Yield Base’s equity–bond allocation, this strategy focuses on fixed income. Cash may range from 0% to 100% where the mandate permits.

  • US Treasuries and related ETFs at the core
  • Assess interest-rate, maturity and credit risks
  • Allocate across global bonds and money markets

Principal risks｜主要風險

Fixed income describes an asset class, not a fixed investment return. Rising rates can reduce bond prices, with long-maturity bonds potentially experiencing substantial volatility. Credit, currency, reinvestment and liquidity risks remain. Bond ETFs do not provide an individual bond’s repayment-at-maturity arrangement; money-market instruments are not equivalent to protected deposits.

04DIGITAL-ASSET THEME · SECURITIES STRATEGY｜數碼資產主題 · 證券策略

阿言’S INVESTMENT TEAM｜阿言投資團隊 ×

Crypto AI Trend Trading｜數碼資產主題證券 AI 趨勢交易

Explore the digital-asset industry through securities.｜透過證券市場，探索數碼資產產業趨勢。

Discretionary portfolio management · Strategy overview｜全權委託投資管理 · 策略概覽

The strategy invests in securities associated with digital assets, blockchain and related industries, subject to applicable investment and selling requirements. It does not directly trade, hold or custody cryptocurrencies. Research categories include related listed companies, thematic ETFs and, where eligibility and the mandate permit, virtual-asset-related ETFs/ETPs. These categories are not an approved investment list.

AI-assisted trend and momentum analysis examines securities prices, volumes, liquidity and industry information. The investment manager determines trades and position sizes. The client account holds securities; an underlying fund or product may itself hold virtual assets or use derivatives. A securities structure does not remove the underlying risks.

  • Express the investment theme through securities
  • Assess eligibility and risks product by product
  • No direct cryptocurrency trading or custody

Principal risks｜主要風險

This is a high-risk thematic strategy. Sector concentration, company risks, virtual-asset prices and regulatory changes may cause substantial losses, including all invested capital. ETFs/ETPs may add underlying custody, counterparty, tracking and premium/discount risks; futures-based products add roll and basis risk (changes in the difference between futures and spot prices, which can cause futures-based product returns to diverge from spot returns)s. Securities trading hours may differ from the underlying market. Stops may not execute at the intended price.

05AGGRESSIVE MOMENTUM · HIGHER-RISK ORIENTATION｜強勢動量突破策略 · 較高風險取向

阿言’S INVESTMENT TEAM｜阿言投資團隊 ×

Aggressive Momentum Trading｜強勢動量突破策略

Focus on strength. Bring discipline to fast-moving markets.｜聚焦強勢走勢，以紀律應對快速變化。

Discretionary portfolio management · Strategy overview｜全權委託投資管理 · 策略概覽

This strategy is positioned for more active participation in market momentum. Within the agreed securities universe, it studies price breakouts, relative strength and changes in trading activity for potential trend continuation. A more aggressive objective also requires capacity for greater volatility and drawdowns.

Compared with the model-assisted positioning of US Equity AI Trend Trading, this framework emphasises an aggressive momentum approach. It does not imply automatic use of AI, leverage, derivatives or a fixed trading frequency. Markets, instruments, concentration and risk limits must be defined by the manager following client assessment and a written mandate.

  • Study breakouts, relative strength and trading momentum
  • Operate within an explicit mandate and risk limits
  • Define entry, exit and position parameters in advance

Principal risks｜主要風險

This is a higher-risk strategy and is not suitable for every investor. False breakouts, sudden reversals, price gaps and poor liquidity may cause rapid, substantial losses; more frequent trading may add costs and slippage. Stop-loss orders may not execute as expected, and all invested capital may be lost. “Aggressive” does not guarantee higher returns. Actual implementation and restrictions depend on formal strategy documentation.

A securities structure does not mean identical eligibility or risk.證券形式，不等於相同資格或風險。

Related-company shares, industry ETFs and ETFs/ETPs tracking virtual assets may have different classifications and restrictions. Overseas listing or regulation does not establish SFC authorisation for public offering in Hong Kong. SFC authorisation does not guarantee returns, safety or suitability.

For virtual-asset-related products, complex-product rules, professional-investor restrictions where applicable, knowledge assessment, suitability, disclosures and regulatory notifications must be considered according to the instrument, service and client. Portfolio eligibility requires an individual assessment, not a “compliant” or “listed securities” label.

None of the strategies guarantees capital, income or achievement of its objectives. Management, transaction, underlying-product and other applicable costs affect net returns. Allocation, leverage and derivative limits, custody, minimum assets, withdrawals and termination are governed by formal documentation.

03 / OUR APPROACH｜投資理念

Understand you first.
Define the direction next.先理解您，再定義投資方向。

A working relationship starts with understanding. This is a general outline of engagement and portfolio management, subject to client assessment, applicable rules and the final agreement.

01

Understand｜了解需求

Discuss finances, investment experience, objectives, time horizon and liquidity needs.

02

Define risk｜界定風險

Assess risk tolerance and establish the investment scope and restrictions.

03

Agree the mandate｜訂立授權

Confirm eligibility, fees, custody and conflicts, and complete the required documentation.

04

Review together｜持續檢視

Review the portfolio, risks and reporting as agreed, and discuss changing needs.

04 / PEOPLE & PERSPECTIVES｜專業團隊與觀點

Investment perspective.
Economic insight.投資視角，與經濟洞察相遇。

Meet investment manager 阿言 and economist and external advisor Muddy Water. Their public commentary offers an introduction to their research interests and perspectives.

INVESTMENT MANAGER｜投資經理

阿言 阿言

PORTFOLIO MANAGER｜投資經理

阿言 contributes public investment commentary under the name “90後投資經理阿言”. His Fortune Insight page and Instagram presence discuss market observations and investment approaches, including trend-following and event-driven ideas.

Fortune Insight ↗Instagram ↗Facebook ↗

Review note: company roles and relationships in this draft reflect the commissioning brief and require FDBAM confirmation. An external advisor title does not establish licensed representative or responsible officer status, or authority over client assets. Services must be delivered by appropriately qualified and authorised personnel.

05 / IN THE PUBLIC EYE｜媒體報導

Perspectives in print.
Conversations on screen.紙上觀點，螢幕對話。

Explore Fortune Insight commentary, YouTube programmes and SpotiTalk interviews. Personal media channels and past appearances are listed separately, with links to the original publishers.

Fortune InsightCOMMENTARY · 阿言｜專欄 · 阿言

Market perspectives by 阿言｜阿言的市場觀點

阿言’s public page. Access to original content may require a subscription.

Fortune InsightCOMMENTARY · MUDDY WATER｜專欄 · 渾水

Finance and economics commentary｜金融與經濟評論

Muddy Water’s personal column on Fortune Insight, not FDBAM corporate announcements.

YouTubePERSONAL CHANNEL · MUDDY WATER｜個人頻道 · 渾水

Muddy Water Finance Channel｜渾水財經頻道

Visit Muddy Water’s YouTube channel for his publicly available programmes and commentary.

SpotiTalkINTERVIEWS · MUDDY WATER｜人物訪談 · 渾水

The “吹水” conversation series｜《吹水》訪談系列

A personal interview series featuring Muddy Water. Guest appearances do not imply endorsement of FDBAM or its services.

Personal and third-party materials are not FDBAM investment advice, verified performance records, service guarantees or SFC endorsements. External pages may contain historical views, commercial promotions, paid courses or outdated information; they are not current investment instructions. Past performance is not indicative of future returns. Capital may be lost.

Interviews & past appearances訪談與活動回顧

Background summaries based on original programme and course listings, not event photographs or video excerpts. Historical pages do not indicate that registration is currently open.

PROGRAMME ARCHIVE · EP 40｜節目回顧 · EP 40

YouTube | Water & Finance｜水與金融

阿言 shares perspectives on buying and selling stocks｜阿言分享買賣股票心得

Water & Finance EP 40 features 阿言 discussing buying and selling stocks. This is a programme summary, not a quotation of the original title; no individual stock recommendations or performance claims are reproduced.

Visit original publisher ↗
PAST ONLINE TALK｜歷史網上講座

Fortune Insight | Muddy Water（渾水） × 紅磡索螺絲 × 阿言

A 2022 review and discussion of the year ahead｜2022 年回顧與來年投資討論

The original listing names the three speakers and an online format. This is an activity record, not verification or presentation of the advertised investment results, or an invitation to a new event.

Visit original publisher ↗

No third-party recordings, course materials, event photographs or logos are hosted here. Copyright remains with the relevant rights holders. On-site use of photographs or edited clips requires appropriate permission.

LET’S START A CONVERSATION｜展開對話

Your investment objectives.
Start the conversation here.您的投資目標，由這裡開始。

Interested in 阿言’s five strategies or discretionary portfolio management? Use the Google Form below to tell us about your enquiry and the services you would like to understand.

Email enquiries｜電郵查詢info@fdbam.com

GOOGLE FORM · INVESTMENT ENQUIRY｜投資管理查詢

Explore services, strategies and the next steps了解服務、投資策略及接洽安排

Complete the investment enquiry form

Opens Google Forms in a new window. An enquiry does not open an account, establish client acceptance or grant investment authority. Before providing personal information, ask the form administrator to clarify its use, retention and access/correction arrangements. Do not provide passwords, bank login details or trading instructions.

Important information & investment risks重要資料及投資風險

Investment involves risk. Prices and income can rise or fall, and you may lose some or all of your capital. Past performance, forecasts and simulations are not indicative of future results. Diversification, risk management and investment strategies cannot ensure a profit or prevent losses. Foreign currency investments carry exchange-rate risk.

This website provides general information only. It is not personalised investment advice or an offer to buy or sell securities or investment products, and does not replace client assessment, risk disclosures or a formal agreement. Its contents have not been reviewed by the Securities and Futures Commission of Hong Kong. Licensing or registration does not imply SFC recommendation or a guarantee of services.

The three language editions are provided for reading convenience, not for solicitation in every jurisdiction. Services may only be provided where legally permitted and where clients satisfy applicable eligibility and FDBAM licence conditions. The Simplified Chinese edition does not establish permission for cross-border solicitation of Mainland Chinese residents.

Strategy availability is subject to client eligibility, assessment, current licence conditions and a written mandate. Website descriptions do not establish suitability or constitute investment authority.

Historical official record: the SFC’s June 2023 additions list records FDBAM (BSW061) for Types 4 and 9. Current licensing status, conditions and service scope still require verification against the public register.

SFC public register — search BSW061 ↗   ·   Official June 2023 record ↗
Relevant regulatory information｜相關監管資料

This publicly accessible website is a service and strategy review draft. Company facts and operating arrangements remain subject to FDBAM verification. It does not indicate regulatory approval of FDBAM, the strategies or individual products. A review label does not exempt the website from applicable requirements.

The service provider and contracting entity must be clearly identified in formal client documentation. Team or strategy names are not separate licences. Website descriptions cannot expand any entity’s or individual’s authority. Services remain subject to applicable law, current licence conditions, client eligibility and written agreements. This website accepts no trades, payments or investment authority.

This page is not a public offering document for a specific fund or security and does not invite subscription to a named product. Restricted products and services remain subject to applicable advertising, offering and cross-border controls; general disclaimers do not replace required qualifications, authorisations or controls.

Personal and third-party media are the responsibility of their publishers and may include historical views or commercial promotions. Links do not establish company adoption of every view or regulatory endorsement. Relevant interests still require appropriate disclosure. No notice excludes rights or liabilities that cannot lawfully be excluded.

Privacy & the Google enquiry form私隱及 Google Form 查詢表

Google Forms is the main contact route. This website itself has no account-opening, payment or document-upload function, advertising trackers, analytics or external font requests, and stores no client information in the browser. Hosting providers may process IP addresses, browser details and other technical connection data.

The enquiry form is hosted on Google Forms. The button takes you outside this website. The form’s complete Personal Information Collection Statement remains to be supplied by FDBAM and the form administrator. This website does not represent that such a statement is already present in the form.

Before personal information is submitted, the form administrator should provide the identity of the data user, collection purposes, required and optional fields and consequences of non-provision, classes of recipients, retention arrangements, and contact details for access and correction requests. Google’s privacy policy does not replace the form operator’s own collection statement. Do not submit passwords, bank login details or trading instructions.

Submitting an enquiry does not establish an account or investment authority. LinkedIn and other social links provide supplementary corporate or media information and are subject to the respective platforms’ privacy policies and terms.