Kenneth Kam seeks to create a Pension Fund for the World to empower individuals to take control of their future.
A philanthropist at heart and a trader by skill, Kenneth Kam is known as a veteran in the world of foreign exchange (forex). His company, Kenn Group Ltd (KENN), has five offices across the world and a team of six traders who manage his family’s multimillion-dollar portfolio spread across various instruments, commodities and forex. But despite his success in the trading world, Kenneth believes that life is not about bagging wins but building upon a vision to improve the lives of people. He built his company in the hopes of creating a pension fund for the world — not of the world.
Flair For Forex
Kenneth first began trading on the side over 27 years ago and his first taste of success in forex came quickly. He started trading with S$10,000 but his funds quickly grew to S$60,000 in just a couple of months. Enthralled by the idea of buying low and selling high, he recalls feeling like a child in a toy store whenever he looked at a forex screen. Kenneth discovered his knack for trading and repeated his strategy. Soon, the S$60,000 was swiftly doubled to S$120,000.
These days, he oversees a multimillion-dollar portfolio but success to him is more than just raking in the dollars. Instead, it is about mastering one’s mindset to focus on what needs attention the most. In 2016, he launched his first book, The Equilibrium — Training the Money Mindset, where he discusses taking a calm, disciplined approach to navigating the forex markets and more importantly, the need to find a healthy balance between work and daily life.
Dreaming Of Change
Kenneth pursued engineering in his youth, believing that the field of study could solve global issues and change the world through inventions and solutions that can make a positive impact. Till today, he sees opportunities to improve the lives of others, just as when he first dreamt of being an engineer.
This was his aspiration when he established the Kenn Group of companies five years ago as a way to further his vision of a ‘Pension Fund for the World’ (PFFTW), where everyone is in control of their retirement age with access to basic universal income. From the company’s humble beginnings as a family office, they have since grown to 40 employees with offices in Singapore, Hong Kong, Bangkok, Mauritius and most recently, Romania. Capitalizing on the latest technology in blockchain, the new Romanian office serves as its technology development centre to further its fintech strategies and build a secure platform for the PFFTW, including a planned Initial Coin Offering (ICO).
Kenn Foundation hosts and supports a range of programmes and initiatives through partnerships with non-profit organizations such as the Singapore Red Cross.
A Heart For Goodwill
Aside from work, Kenneth has been an active volunteer in churches and non-profit organizations throughout his life. It was in his early childhood that he began to develop a penchant for charity. He recounts accompanying his mother to the market and watching her haggle to get every penny’s worth. One morning, they encountered a beggar on the way home and Kenneth reached out to give him some loose change. He fondly recalls, “My mother gave me a soft smile and a slight nod to show her approval at my small gesture. I remember feeling a peaceful warmth inside me when the beggar looked at me with thankful eyes.” This incident led Kenneth to understand the concept of unequal wealth distribution even at a very young age, and hence began his journey in philanthropy.
Last year, Kenneth established the Kenn Foundation to realize his philanthropic objectives. His intention was to serve deprived communities and allow talents to flourish all around the world. He says, “I have been blessed and I hope to empower individuals and the less fortunate through the foundation to bring about equilibrium in society.” Today, the Kenn Foundation grants include scholarships to universities in Singapore such as National University of Singapore (NUS), Nanyang Technological University (NTU) and Singapore University of Technology and Design (SUTD), an arts and visual therapy programme for special education kids spearheaded by the National Arts Council (NAC) and a Food Aid programme under the Red Cross Singapore, to name a few.
Believing that life is too short to put off giving back, Kenneth has shown that helping others is a far more rewarding experience than monetary and professional success.
This article was first published on the MillionaireAsia Issue 48 - June 2018