TOMORR OW’ S TITANS 2023


China and Australia. The strategy is flexible and can be implemented with a net long, net short, or neutral position, depending on market conditions. Van Reijn holds an MSc in Finance and Econometrics from Queen Mary and a BSc in Mathematics from Royal Holloway, both from the University of London.


Alyx Wood


Co-Founder and CIO Kernow Asset Management Cornwall


Alyx Wood co-founded Kernow Asset Management in 2019 with Edward Hugo. Kernow is a specialist investor and authority on UK equities. Wood has a contrarian investment philosophy that forms the foundation of Kernow’s long/short strategy - an approach that he has honed over more than twenty years of active investing. Kernow uses deep fundamental analysis to uncover hidden gems - quality stocks that are undervalued and have identifiable catalysts. Kernow’s portfolio holdings have received six takeover bids since its inception, including for Caretech in June 2022. The short book generates ideas using forensic analysis to unveil accounting red-flags. This approach has exposed several companies which have subsequently faced high-profile allegations of fraud, including WANdisco. Kernow’s strategy has significantly outperformed the UK equities market, achieving a positively-skewed return profile with low market correlation. Kernow manages capital for family offices, high net- worth individuals and institutions, including Norges Bank Investment Management. Wood previously managed a UK equity portfolio at Downing LLP. Prior to this, he worked at Deutsche Bank and KPMG. He has a BA in Accounting and Economics from Reading University. Wood holds the Investment Management Certificate (CFA Institute) and is a chartered accountant (ICAS).


Keith Wu


Chairman and CIO WeTrust Asset Management Singapore


Keith Wu founded Singapore-based WeTrust Asset Management to identify and invest in super compounders in “happiness-related” consumer


and consumer tech sectors, such as spirits, aesthetic surgery, gaming and e-commerce, in China and US equity markets. The flagship equity long/short fund, WeTrust Absolute Return Growth Fund, launched in June 2020, has netted 22% per annum to May 2023 with close to zero correlation to Chinese equity indices, and grown assets to $150 million with investors including funds of funds and family offices. Typically, the WeTrust fund invests in 10-20 strong growers at reasonable valuations for the long book, and 5-10 individual name shorts. The long and short book contributed 62% and 28% respectively to the fund’s historical performance. Unlike typical long-biased China hedge funds, the WeTrust fund is absolute return oriented and adheres to disciplined stop-loss mechanism during bear market. Before founding WeTrust, Keith was Managing Director and Head of Equity Investment for China Everbright Limited, including being portfolio manager of the multiple award winning Everbright China Focus Fund since January 2014. Prior to that he worked for Shanghai Zendai Investment Management, one of the earliest sunshine hedge funds in mainland China. Keith has a MEcon in International Finance from Shanghai University of Finance and Economics, an MSc in Management from Stanford Graduate School of Business and is a CFA charterholder.


Bernie Yu/Jeffrey Liu


CIO/CEO Patronus Capital Management LLC Chicago


Patronus was launched in 2019 by Jeffrey Liu, with Bernie Yu joining as a full partner in 2020. The fund trades a volatility relative value strategy in US index options and futures using proprietary models seeking to capture option mis-pricings. The strategy is designed to remain volatility, skew, kurtosis, and direction neutral. Patronus aims to exploit dislocations in volatility surfaces, which can be caused by price insensitive options traders demanding continuous quotes from market makers. Patronus are opportunistic medium frequency liquidity providers who benefit from growing volumes traded, typically during periods of stress. The strategy has generated a Sharpe above 3 with no US equity index correlation and plans to diversify into European and Asian markets as assets grow. Fund investors include Marbella Interests LLC and


Blueprint Capital Management LLC from Austin, Texas; Zero Delta Funds LLC from Mathews, North Carolina; and DV Group from Chicago, Illinois is invested via a managed account. The principals met while working together at high frequency options market making firm, Optiver. Liu aided in launching Optiver’s Eurodollar desk in 2015 and helped develop their fixed income spreading desk. In 2012 he co-founded proprietary trading group, Cardinal Trading. He has a BS in Finance and Banking from the University of Missouri Columbia. Yu was previously Head of Short-Term Interest Rates at Optiver US and established their Cross Product Fixed Income strategy. He has a Bachelor of Commerce in Actuarial Science and Econometrics from UNSW in Australia. He has also completed the CQF.


Kevin Zhu/Dina Tsarapkina


Co-CIOs and Founders Syncretic Capital New York


Kevin Zhu, Dina Tsarapkina and CEO Ross Tan co-founded Syncretic in 2021 with proprietary capital and some seed capital from anchor investor Stable Asset Management. The firm trades cryptocurrencies using a cyclical multi- strategy approach, which determines if markets are in an early bull, late bull, early bear or later bear market phase. The multi-factor models consider fundamentals, technical, flows, sentiment and behavioural factors. The flagship can go directionally net long up to 85% or net short up to 25% and it also trades pairs as well as two strategies – hedged yield and arbitrage – that make up a separate market neutral strategy. The arbitrage strategies are especially sensitive to liquidity and require confidence in venues and counterparties; Syncretic exited virtually all FTX exposure in early November 2022. Tsarapkina was previously a researcher for Co-CIO Bob Prince at Bridgewater Associates, where Tan also worked on both the investment and management side, and earlier an analyst at Goldman Sachs. Zhu was previously a portfolio manager at GSA Capital, and before that was at Millennium and Balyasny. Zhu has a Bachelor of Engineering from Princeton University. Tsarapkina has a Master of Quantitative Finance from University of Waterloo and a Bachelors in Financial Modelling from Western University.


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