Academia China Absolute Return Master Fund

Overview
Investment Objective

The Fund will invest all or substantially all of its assets in the shares of the Master Fund. The investment objective of the Master Fund (Academia China Absolute Return Master Fund). The investment objective is to achieve a diversified portfolio with low risk and superior returns.

Investment Strategies

The Master Fund will deploy advanced quantitative models to identify market mispricing in China and China related securities. The Manager take a multi-strategy approach to reduce portfolio risk and maximum investment opportunities in different market environmentsand reduce portfolio volatility. The investment manager builds a diversified long-short portfolio with superior risk-adjusted returns with tight downside risk control.

 

The foundation of the investment process begins with a proprietary multi-factor model for China stock universe based on decades of global investment experience. Industry selection model may be deployed to dynamically allocate across industries to further boost alpha. The portfolio is optimised towards a high alpha long-short basket coupled with futures positions for hedging.

 

The second is an event-driven strategy based on China's frequent corporate actions using well-established event database and systematic approach. Dynamic hedging is deployed to reduce portfolio risk.

 

Thirdly, the Investment Manager uses a short-term trading strategy based on market micro-structure anomalies and investor irrationality.

 

The fourth strategy is a pair-trading strategy based on relative valuations, near-term price dynamics and characteristics matching to find attractive stocks to long and poor stocks to short.

 

The Master Fund has flexibility to invest in a wide range of instruments including, but not limited to, listed and unlisted equities, preferred stocks, convertible securities, equity-related instruments, debt securities and obligations, currencies, commodities, futures, options, warrants, swaps and other derivative instruments. The Master Fund may engage in short sales, margin trading, hedging and other investment strategies.

Portfolio Manager
Hongxin Wang, Charles

Charles is a veteran in managing equity portfolios with over 20 years’ experience in both Chinese and global markets. Prior to starting his own business, Charles held various investment positions at Aeltus Investments, Putnam Investments, and especially at Acadian Asset Management where he spent more than a decade as Director of Research and Senior Portfolio Manager, and he was managing its award-winning emerging market fund (ticker AEMGX, number one performer in 2000-2009). In 2010, he moved back to China, as Chief Executive Officer of E Fund Asset Management (HK). In 2012, he joined Bosera Asset Management in Shenzhen as CIO of Quantitative Investment Department, managing the largest quantitative portfolios in the industry with over RMB30 billion AUM, including Bosera CSI 300 large-cap enhanced index fund (ticker:050002)being the best performing enhanced index fund in 2014.

 

Charles received a B.S. in Mathematics from Peking University, an M.S. in Applied Mathematics from University of Massachusetts at Amherst, and a Ph. D. in Finance from Yale University.

Fund Facts
Domicile
Cayman Islands
Denomination Currency
USD
Fund Launch Date
December 2017
Investment Manager
Academia Investment Management
Sub-investment Manager
OP Investment Management Limited
Investment Advisor
N/A
Asset Class
Listed and unlisted equities, preferred stocks, convertible securities, equity-related instruments, debt securities and obligations, currencies, commodities, futures, options, warrants, swaps and other derivative instruments
Country and/or Industry Focus
Global
Benchmark Index
N/A
Partners
Prime Broker
Administrator / Delegated Administrator
Auditor
Legal Counsel
Last updated: March 2019

 

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