It evaluates more than 150 indicators across technical analysis, company fundamentals and academic researchEric Kong (left) and Kevin Tok, co-founders and executive directors of Aggregate Asset Management. The firm pursues an “ultra-diversified” approach aimed at downside protection. PHOTO: YEN MENG JIIN, BT FILECONCENTRATION risks in global stock markets are at multidecade highs, as investors flock to the seemingly compelling potential of all things related to artificial intelligence. But if you are concerned about concentration risk, as AI-themed stocks take up an outsized share of market indices, home-grown boutique asset manager Aggregate Asset Management (AAM) offers an alternative. Since then, the Aggregate Value Fund (AVF) has pivoted from a focus on Asia equities into a global “ultra-diversified” strategy aimed at downside protection.