Jun Bei Liu, founder of Ten Cap, has set an ambitious goal to double the size of her hedge fund to AUD3bn following the fund’s separation from Tribeca Investment Partners in October 2024, according to a report by the Financial Standard.
On 1 February, Liu’s Tribeca Alpha Plus Fund was rebranded as the Ten Cap Alpha Plus Fund, with Jason Todd, Co-Founder of Ten Cap, serving as the fund’s Chief Executive and Chief Investment officer.
Todd, who was formerly the Chief Investment Officer at Commonwealth Bank Private, and has also held executive positions at Macquarie, is joined by Craig Morton, the new Chief Operating Officer, and Christian Clementson, Head of Trading. Nicholas Varcoe serves as a Senior Analyst, with Charles Pegum as an Analyst.
Over the past year, the fund posted a return of 18.6%, outperforming its benchmark of 14.9%. Over the last five years, its annualised return was 11.1%, compared to the benchmark’s 8.1%.
Todd and Liu are confident that growing the fund organically to AUD3bn is within reach and plan to target the retail sector, although Todd acknowledged the need to educate potential clients on the nature of hedge funds.
He explained: “If everyone’s worried about volatility in the market, what could be better than a long-short fund? Yet, in most people’s minds, they don’t think of it that way. Because the portfolio is managed with strict risk controls, it actually fits within the Australian equities asset allocation, not in the hedge fund category. So, it aligns with the largest investment bucket for most investors.”
Liu added: “In a way, we’re actually lower risk than many long-only managers because of our ability to short. Even though it may seem risky, we can hedge against market volatility, which requires a lot of education.”
