Asian hedge fund platform OP Investment Management Ltd (OPIM), in partnership with Watercourse Advisors, is to launch the Watercourse Macro Fund SP of Sunrise SPC, a Cayman-domiciled hedge fund for professional investors only.
The absolute return fund will deploy a global, directional macro strategy.
Founded by Wei Liao (pictured), Watercourse will continue the same strategy she ran whilst previously managing BIA Pacific Macro Fund. The portfolio will focus on anticipating and identifying tactical trading opportunities as well as strategic investment themes in Asia-Pacific, US, and Europe, by taking long and short positions in highly liquid, transparent, easy-to-price instruments across equities, commodities, bonds and currencies.
“Our active trading and risk management strategy is directional, concentrated, and often contrarian,” says Liao. “Applying dynamic capital allocation, we can profit from sudden changes in macro-environment while mitigating steep drawdown risks.”
Liao arrives with over 12 years’ experience in macro trading and research. Previously, she was the acting portfolio manager of BIA Pacific Macro Fund in 2016. In 2013, she was the assistant portfolio manager of Asia Pacific Macro Fund at City Financial, and was a macro analyst for BIA in 2011 when she initially moved to Hong Kong. Ms. Liao was originally in Singapore beginning 2008, where she was working as a hedge fund analyst at Credit Suisse Asia before joining Exelion Capital then Paridon Asia. She began her career in 2005 as an interest rate trader with WestLB Capital Markets in London and Tokyo.
Liao graduated from Lancaster University with a Bachelor’s degree specialising in Economics and Finance, and a Masters of Finance at the same university in 2004.
Prior to restarting her fund with OPIM, Liao’s fund generated a net performance of 7.1 per cent in just 10 months versus the HFRI’s total macro index which returned 2.35 per cent over the same period.
“It’s really only during tough markets, you find strong managers. Compared to macro peers’ flat performance, Wei’s performance edge speaks for itself,” says Alvin Fan, CEO of OPIM.