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The high-conviction strategy run from Beijing has delivered strong returns since launch in 2011, and the firm is now building out its global research efforts as well as its presence in the US
Optimus Prime Fund, the fundamental-driven global equity fund focused on the technology sector, is on a roll. The high-conviction strategy, run by Beijing-based CEO and portfolio manager John Mingquan Wang, delivered a robust 20.60% return in the first quarter of this year to stand above most of its peers during the period.
Wang launched the strategy mostly with his own money back in October 2011 and six years later it has scaled to more than $128 million in size and delivered an impressive total return of 632.99% since inception.
Wang says his eight-staff team in Beijing invests in the best and most promising technology companies around the world and is keen to build the strategy into a multi-billion dollar fund.
The team recently onboarded Societe Generale as its prime broker and is now about to hire four more analysts in the second quarter. Wang has also set in motion a plan to establish a research office in Silicon Valley in the near future.
Wang's career mirrors the success of many small entrepreneurs that benefitted from China's spectacular opening to the world in the last few decades. As a materials engineer in terms of professional qualification, Wang was educated at the University of Science and Technology Beijing, where he completed a master's degree. At that stage he probably never anticipated becoming a hedge fund manager running a successful strategy. He was running a computer hardware and technology service company in Beijing early 2000, selling SUN, IBM and HP products, but in late 2006 decided to invest in the booming Chinese stock market.
"Back in October 2006, a banker friend told me to invest some of my savings in Chinese A-shares, and it was a timely advice since A-shares were just marching at the early stage of the bull market. I started with IPO subscriptions and gained a lot, but soon decided to trade A-shares instead of just only investing through IPO subscriptions, although shortly thereafter, in May 2007, the Chinese government imposed drastic measures to cool down the overheated stock market."
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