|Watercourse Advisors to join Penjing Asset Management after one year on the OPIM Platform||
Hong Kong, October 8th, 2018 – Penjing Asset Management (Asia) Limited (“Penjing Asset Management”) today announced its agreement to incubate Watercourse Advisors (“Watercourse”), a global macro focused firm founded by Wei Liao.
Ms. Liao, Founder and Portfolio Manager of Watercourse Advisors, will join Penjing Asset Management, managing the same strategy currently on the OP Investment Management (“OPIM”) Platform. Watercourse Macro Fund, a continuation of the BIA Pacific Macro Fund which re-activated in November 2016, deploys a global macro strategy around strategic global themes and tactical trading opportunities.
The long-short portfolio covers the Asia-Pacific region, Europe, and the US, in highly liquid and transparent instruments such as equities, commodities, bonds, and currencies. The fund will complete transition by December 2018 after only one year on OPIM’s platform.
“Wei’s ability to manage volatility conveys her deep respect for risk. She comes to the firm with a thematic research approach we know well from her history, married with a disciplined portfolio management framework,” Mr. Ronnie Wu, Co-Founder and CIO of Penjing Asset Management explained. “We couldn’t be more pleased to welcome her to the Penjing family.”
“I am looking forward to joining Penjing Asset Management and continuing to lead Watercourse Macro Fund from 2019 onward. I would like to express my gratitude to Alvin Fan and OPIM for their partnership over the last year,” Ms. Liao remarked.
“Wei’s time with OPIM has been short, but given her pedigree, we are not surprised. In fact, she is one of the fastest to spin off our platform ever. We are thrilled to see emerging talent getting the recognition they deserve from our institutional partners,” added Mr. Alvin Fan, Chief Executive Officer at OPIM.
OPIM will continue supporting Watercourse Macro Fund, retained as investment advisor for Penjing Asset Management.
Watercourse is the second graduate off the OPIM platform in 2018 after Petrel Capital announced in July this year.