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Watercourse
An Asian hedge fund platform, OP Investment Management, has launched Watercourse Macro Fund SP of Sunrise SPC, a Cayman-domiciled hedge fund pitched only at professional investors, and led by Wei Lao, founder of Watercourse Advisors. Watercourse is launching the fund in partnership with OP Investment Management. 

Watercourse will use the same strategy that Lao used when she managed the BIA Pacific Macro Fund. The new portfolio hunts out tactical trading opportunities as well as strategic investment themes in Asia-Pacific, US, and Europe, by taking long and short positions in highly liquid, transparent, easy-to-price instruments across equities, commodities, bonds and currencies.

"Our active trading and risk management strategy is directional, concentrated, and often contrarian, Liao said, "Applying dynamic capital allocation, we can profit from sudden changes in macro-environment while mitigating steep drawdown risks," she continued. 

Liao arrives in her new role with more than 12 years' experience in macro trading and research. Previously, she was the acting portfolio manager of BIA Pacific Macro Fund in 2016. In 2013, she was the assistant portfolio manager of Asia Pacific Macro Fund at City Financial, and was a macro analyst for BIA in 2011 when she initially moved to Hong Kong. Originally based in Singapore in 2008, Lao worked as a hedge fund analyst at Credit Suisse Asia before joining Exelion Capital then Paridon Asia. She began her career in 2005 as an interest rate trader with WestLB Capital Markets in London and Tokyo.