Ten Cap is a boutique investment management company with a singular focus on providing our clients with exceptional returns and experiences. We manage ~$1,500mn in Australia’s largest founder owned and led 150:50 fundamental active extension fund. Our purpose is to empower our clients, grow their wealth and in turn the community through aligning our interests with their own. We run a domestic focused, style neutral fund with a proprietary long-short approach.
Alpha Plus is one of the longest running and most consistently performing long short equity only funds in Australia. Since taking over the fund in 2019, it has delivered 10.8% per annum versus the ASX200 of 8.0% for an annualised (net) outperformance of 282bps.
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Our team is diverse and deeply experienced. It is dedicated to delivering market-leading performance via the integration of a broad range of life, industry skills and insights. Our purpose, vision and how we operate are embedded into the DNA of every employee as we seek to become Australia’s fund manager of choice for clients and staff.
Ten Cap prides itself on hiring employees that are passionate about markets, have the right combination of hard and soft skills, and who fit with our company culture
Craig joined Ten Cap in January 2025 as Chief Operating Officer. Craig has over 25 years’ experience in investment markets and funds management, most recently as Chief Operating Officer at Harper Bernays Ltd.
Christian is the head of trading at Ten Cap. His career started in 1997 with Gartmore Investment Management (Janus Henderson today) in London spending 3 years as a Fixed Income Dealer before moving to WestLB Asset Management in 2000 as a Senior Dealer, responsible for covering the execution for multi asset portfolio managers (Trading: Fixed Income, Equities, Futures and Derivatives). In 2005 Christian moved to Nomura Securities in Singapore as an Equity Sales trader covering pan Asia equities, responsible for covering a mixture of Hedge Funds and Long Only accounts. In 2006 to 2009 he joined Citibank Singapore also as an Equity Sales trader on the Hedge Christian was most recently Managing Director at BTIG Australia.
Charles is an Equity Analyst within the investment team at Ten Cap and has 5 years of industry experience. Charles started off in drycargo shipbroking at Affinity Shipping and then moved to Macquarie Bank. Prior to joining, Charles worked at Tribeca Investment Partners within the Global Natural Resources team for 3 years and focused on global listed and unlisted investment opportunities. Charles’ qualifications include a BA (Hons) degree from the University of Melbourne and a Masters of Public Policy from theUniversity of Sydney. Charles has recently passed his Level 1 CFA
Nick is Head of Research at Ten Cap, bringing a wealth of experience inequity markets and investment strategy. His career in finance began at Ausbil Investment Management, where he spent five years managing diverse responsibilities, including leading coverage of Consumer Staples and Retail sctors for domestic strategies. In 2020, Nick joined Paradice Investment Management, where he spearheaded the establishment of the firm’s global ESG integration framework and subsequently designed, seeded, and launched a global equities strategy as Portfolio Manager. Nick holds a Bachelor of Commerce with a double major in Finance and Accounting and is a CFA Charter holder, reflecting his commitment to professional excellence and expertise in the financial sector.
The past 19 years of Jun Bei’s career have been with Tribeca. Starting as an equity analyst in 2005, she spent several years as a Portfolio Manager, and in 2019 took over the Alpha Plus Fund, one of Australia’s longest running equity long short funds. Since taking over sole responsibility for managing the Fund, she grown fund under management from $350mn to ~$1.5bn. Prior to Tribeca, Jun Bei spent four years as an investment analyst covering the Australian consumer sectors at Morningstar and Foster Stockbroking. Jun Bei completed a commerce degree at the University of New South Wales, followed by a number of finance credentials including GAICD and CFA. She is fluent in Mandarin and English, only learning English as a 16-year-old, when she emigrated to Australia from China.
Jason is the Chief Executive Officer and Chief Investment Officer at Ten Cap. Jason began his career in 1996 with JPMorgan New Zealand. He spent 12 years with JPMorgan with time in NZ, Australia, London and then finally New York as the US & Global Equity Strategist. In 2007 he took up the role of US & Global Equity Strategist for Morgan Stanley New York. In 2010, Jason moved to Hong Kong where he became Head of Hong Kong / China Equities for CIMB (formerly RBS). He remained there for 6 years before moving back to Australia as the Head of Australian Macroeconomics for Macquarie Group and later the Head of Investment Strategy for Macquarie’s Australian Wealth Management division. In 2024, Jason took up the role of Chief Investment Officer for the Commonwealth Bank Private – Australia’s largest Private Bank. Jason has a Bachelor of Commerce (double major in Economics & Finance) and a Master of Commerce (First Class Hons) in Economics from the University of Auckland (New Zealand). Jason is also a CFA Charterholder.
At Ten Cap, our purpose is to empower investors, guide their financial growth, and make a positive impact on the community.
We are passionate about giving back and are committed to using our expertise and resources in a way that has a positive impact on the world. Lead portfolio manager, Jun Bei Liu has a long history of supporting charitable causes and through its employees, partnerships and initiatives, Ten Cap, will seek to further deepen its corporate social responsibilities and activities. At Ten Cap we understand our role as a change agent and we take this seriously. It is a privilege to manage client money and this gives us a unique opportunity to help create positive ripple effects across the broader community at large.
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There are two ways to invest in the Alpha Plus Fund. First, via a direct application as outlined below; or Second via one or more of the platforms outlined below. The minimum investment is $25,000. Applications / Withdrawals are on a daily basis with half year distributions. The Responsible Entity is Ironbark Asset Management Fund Services, Custodian & Administrator is JPMorgan Chase Bank (Sydney) and Unit Registry is Link Market Services.
Direct application via our PDS and form
Read the Class A Product Disclosure Statement (PDS).
Complete the application form within the PDS or download and complete the application form that applies to your investment type:
Company / Trust / Super
Individual / Joint / Sole Trader
Send the application form and required supporting documents to: tencap@cm.mpms.mufg.com
Apply through one of our supported platforms
