Tribeca fund manager Jun Bei Liu to step out on her own
The move will see Ms Bei Liu migrate the full $1.5bn from her Alpha Plus fund to a new firm with an as-yet undisclosed name.
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Star fund manager Jun Bei Liu is stepping out on her own, setting up a new fund that will launch in early 2025 with the backing of her long-term employer Tribeca Investment Partners.
Speaking to The Australian, Ms Bei Liu confirmed the move that will see her migrate the full $1.5bn from her Alpha Plus fund to a new firm with an as-yet undisclosed name.
“After being with Tribeca for 19 years, I feel it’s time for me to really step out and set up my own business. With Tribeca’s full support, we’ve negotiated a full lift out of my funds, just under $1.5bn for the new business,” Ms Liu said.
“I’m looking to start early next year, and it’ll be a super-smooth transition. We already have support from major clients and so it’s just business as usual, except the new fund will have more dedicated resources.”
Ms Liu is launching with the backing of Alpha Plus’ major investors and a business partner who is understood to be very well known in investment circles who will be in charge of distribution. This will allow Ms Liu to focus on the investment side of the business, she said. On the investment front, she will launch with two investment professionals on her team, both of whom are also understood to be well known in the industry.
Ms Liu said further details on the name of her new venture, as well as business her partner and team, will be announced in the coming weeks.
Liu leaves with the ‘blessing’ of Tribeca boss David Aylward, who will sit on the new firm’s advisory board.
Ms Liu joined Tribeca in 2005, starting as an equity analyst and spending several years as a portfolio manager before taking over the Alpha Plus Fund in 2019. Since taking over sole responsibility for managing the fund, she has more than quadrupled its assets under management, taking it from $300m to $1.5bn.
The long short fund, which invests in Australian equities and targets outperformance over the S&P/ASX 200 Accumulation Index using both quantitative and fundamentals investing, has also consistently outperformed its benchmark, returning 18 per cent for the 12 months through to June 30, compared to the S&P/ASX200’s 8 per cent, and 11 per cent per annum over five years, again beating the index.
Commenting on the investment outlook, Ms Liu said markets should continue to make gains even as they touch record highs, with the rate-cutting cycle a positive in the near term.
“The share market has already demonstrated its resilience. Now we’re into the rate cutting cycle and that usually does mark the beginning of a new bull market. On top of that, we’ve got China stimulating. Yes (the announcement from China over the weekend) was a bit disappointing but it’s a start. So it’s a great time to be setting out,” she said.
“It’s a great time for stock pickers to be delivering extra returns on top of what the market does,” Ms Liu added.
Originally published as Tribeca fund manager Jun Bei Liu to step out on her own
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