The latest in funds and investments across Asia-Pacific.

Penjing Asset Management (Asia)
Penjing Asset Management (Asia) has agreed to incubate Watercourse Advisors, a global macro-focused firm founded by Wei Liao. As part of the move, Liao, who founded and is a portfolio manager of Watercourse, will join PAM, overseeing the same strategy that is on the OP Investment Management.

Watercourse Macro Fund, a new incarnation of the old BIA Pacific Macro Fund which was re-activated in November 2016, uses a global macro strategy to make returns. It 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 its transition by December 2018 after only one year on OPIM's platform. OPIM will continue supporting Watercourse Macro Fund, retained as an investment advisor for Penjing Asset Management.

Watercourse is the second graduate of the OPIM platform in 2018 after Petrel Capital announced it had achieved a similar feat in July this year.

Penjing Asset Management was founded in 2005 and runs funds of hedge funds.