The two firms will be hoping to expand in each other's region.

US-based Rothschild Asset Management has signed a strategic alliance deal with Singapore-headquartered APS Asset Management. 

The deal will see APS strengthen its position in the US and Rothschild strengthen its operations in Asia, the firms said in a statement.

This alliance will also involve support from Rothschild to APS in the US. APS will also give similar support to Rothschild in Asia.

"In the old world of asset management, companies competed with each other. But in this new world we believe asset managers with complementary skills will form strategic alliances to create value for their clients," says Wong Kok Hoi, founder and chief investment officer of APS. "We at APS are delighted to collaborate with such a reputable firm who shares the same vision with us. We complement each other in product and geographical coverage as well as people."

"We are thrilled to be partnering with a uniquely positioned Asian asset manager in APS," said Rothschild Asset Management chief executive, Michael Woods. "This partnership allows us to leverage APS' network in Asia, while also accessing the niche expertise of a leading investment manager in one of the fastest growing regions of the world." 

APS Asset Management is a Singapore-headquartered boutique asset management firm founded in 1995. The firm has assets under management of $2.7 billion, as of May 31.

Headquartered in New York, Rothschild Asset Management manages investments covering a range of US securities including large-cap, small/mid-cap, small-cap, and smart beta solutions.