Louis-Vincent Gave co-founded GaveKal in 1999 with his father Charles and Anatole Kaletsky. GaveKal started as an independent research firm and evolved in 2005 to include fund management and in 2008 to include data analysis services. Since 2005, Louis-Vincent has mostly focused on the money management side of the business. Before co-founding GaveKal, Louis-Vincent worked for Paribas Capital Markets where he was an equity research analyst from 1997 to 1999. In 1996 and 1997, Louis-Vincent served in the French Mountain Infantry Division as a Second Lieutenant. LouisVincent studied Economics, History and Chinese at Duke University and Nanjing University. In the past decade, Louis has written five books, including his latest "Too Different For Comfort", published in October 2013.
- Head of Asian Equities
Alfred Ho has over twenty-five years of experience investing in Asian markets. Before joining GaveKal in 2006 as a partner, Alfred was the Chief Investment Officer for INVESCO Asia and was responsible for managing large retail and institutional portfolios. Alfred was the lead manager for the INVESCO GT Asia Enterprise Fund and initiated the launch of the first absolute-return driven product for the company - INVESCO Asia Alpha Fund in 1999. Prior to joining INVESCO, Alfred worked as an analyst with W.I. Carr in Hong Kong. Alfred graduated from the University of Wisconsin-Madison with a Bachelor of Science degree in Economics and a Master of Science degree in Finance. He is a holder of the Chartered Financial Analyst designation.
- Head of Asian Fixed Income
Before joining GaveKal in June 2012, Christine Cheung worked for the Hong Kong Monetary Authority as a Portfolio Manager for the credit portfolio of the Direct Investment Team under the Reserves Management Department. Prior to that, Christine worked for RimAsia Private Equity, focusing on acquisitions in the Pan-Asia region. Before joining the buy side, she worked in the Investment Banking Divisions of Credit Suisse and Citigroup. Christine graduated from Wharton School, University of Pennsylvania, majoring in Finance and Accounting.
- Equity Portfolio Manager
Simon joined Gavekal in March 2017 to work on the global equities strategy. Before joining Gavekal, Simon founded Lumen Advisors in March 2002. Prior to Lumen, Simon was the Co-Chief Investment Officer, global emerging markets debt and Managing Director of Dresdner RCM Global Investors, which he joined in January 1999. He had previously been working at Soros Fund Management in 1998 where he was an advisor and portfolio manager for the Quantum Emerging Growth Fund. From 1992 to 1997, Simon was CIO for Emerging Market Fixed Income at LGT where total assets in this product reached over US$1.5bn. Earlier in his private sector career, Simon served as Global Strategist for Putnam's fixed income group, where he built the EM business to over US$1bn. From 1984 to 1990, Simon was an economist at the International Monetary Fund, and from 1982 to 1984 he was an economist for the European Economic Commission working as a technical advisor for sub-Saharan African governments. Simon holds a Doctorate in Economics from the University of Milan, Italy and a degree in Electronics Engineering from I.T.I.S. in Vimercate, Italy. He is fluent in French, Italian, English, Portuguese and Spanish.
- Equity Portfolio Manager
Gavin Ma joined GaveKal in June 2013. Gavin has spent nearly two decades on the buy-side, investing in Asian markets as an analyst, assistant portfolio manager and portfolio manager at different firms. On the long-only side, Gavin worked at MFS Investment Management in Singapore, and at Wellington Management Company in Boston where he spent more than twelve years. Gavin helped manage long-short portfolios at Seacross Global Advisors, previously known as Oechsle Alternative Investments, and Tudor Capital in Singapore. He graduated from Middlebury College with a Bachelor of Arts in History and is a holder of the Chartered Financial Analyst designation.
Michael du Jeu
- Portfolio Manager
Michael du Jeu joined Gavekal in 2014. He has worked in the finance industry for more than 20 years. He has spent his career managing capital in various forms, heading market-marking operations and proprietary investment desks at S.G. Warburg and Lehman Brothers in London in the 1990s; cofounding and comanaging a global macro hedge fund in London between 1998 and 2005. He then coheaded the Dedicated Capital Management at Renaissance Investment Management, a specific investment process for long-term wealth creation based on macro analysis and computerized technology. He holds a law degree from Assas University in Paris.
- Portfolio Manager
Didier Darcet joined Gavekal in 2014. He was Head of Capital Markets at the Bank of America in Paris in the 1990's. A few years later he became Head of Interest and Exchange Rrates Arbitrage and Pproprietary at Bank of America London.. In 1999, he co-founded Insight Research LLC, a US-based company specialized in research and development of mathematical models applied to the financial market, and Insight Finance - an alternative asset management company. Before joining Gavekal, he was co-Director of Global Mandates at Renaissance Asset Management in London. Didier Darcet is a speaker at the IMF (International Monetary Fund) and the Banque Africaine de Développement (AfDB). He is the co-author of The Economics of Sovereign Wealth Funds, a book about sovereign funds published by the IMF in 2010. Didier Darcet has a double background as a nuclear physics engineer (Supélec) as well as an economist (Sciences Po Paris).
- Associate Portfolio Manager
Jennifer Thomson joined Gavekal in 2007 and worked on the former “Knowledge Leaders” team where she was responsible for European stock selection. In February 2017, when Louis-Vincent Gave took over the management of the Gavekal Global Equities UCITS fund from Steven Vannelli, she joined Louis and changed her focus from European stocks to consumer related stocks around the globe. Jennifer specializes in analyzing investments in intangible capital. She holds a bachelor’s degree in French literature and pre-med studies from Cornell University, and a master of business degree from the University of Denver.
- Associate Portfolio Manager
Before joining Gavekal in 2017, Marianne co-founded Lumen in March 2002. Prior to Lumen, she has been the Assistant Director and fixed income analyst for emerging markets debt at Dresdner RCM Global Investors from January 1999 to January 2002. Prior to joining Dresdner RCM, she was working at Tradewinds Financial Corporation as an emerging market analyst in 1998. Previously, Marianne worked with Simon Nocera at LGT from 1994 to 1997 as part of the team responsible for sovereign, currency and corporate analyses and investments in emerging markets. Before joining LGT, Marianne was an Assistant Vice President at Citicorp International Limited in Hong Kong where she was involved in loan origination and syndication in Asian capital markets from 1987 to 1992. Marianne holds a Masters in Business Administration in Finance from University of California, Berkeley, a Masters of Arts Degree and a Bachelor of Arts in Economics (Hons) from the University of Cambridge in England and is a Chartered Financial Analyst. She is fluent in Cantonese and proficient in Mandarin.
- COO, CCO & CFO
Marco Lai has over eighteen years of experience in operational management and information technology. Previously, Marco was the Head of Information Technology (IT) at INVESCO Hong Kong where he was responsible for formulating IT strategy and rolling out corporate initiative projects, and was a director at QWORKSHOP HK, a software solution company. Marco has extensive experience in fund accounting systems, designing proprietary stock databases and building interfaces to external third party systems. He holds a Bachelor of Science in Business Administration from Boston University and a Master of Business Administration degree in Finance from California State University, Los Angeles.
Deputy COO & Compliance
Allison joined Gavekal in 2010. She graduated from the University of Oklahoma in 2006 with a Bachelor’s degree in Sociology-Criminology. After graduation, she travelled a bit before attending Oklahoma City University School of Law. Allison was previously the Client Relations Manager for Gavekal Research and Director of Development for the Gavekal Endowment. In 2017, Allison was promoted to Deputy COO which manages HR and Compliance across the firm.
- Chief Risk Officer
Victor Luk joined GaveKal in 2005 where he had worked for the previous year as an intern. Between 2005 and 2012, Victor ran GaveKal’s quantitative research efforts. In 2013, Victor was promoted to heading risk analysis for all of GaveKal fund management strategies. Victor graduated from the Chinese University of Hong Kong in 2005 with a Bachelor’s degree in Information Engineering. He is a CIPM certificate holder. He is also a holder of the Chartered Financial Analyst designation and the Financial Risk Manager designation.
- Trader and Quantitative Analyst
Sebastien Alfonsi joined GaveKal in May 2013. Previously, Sebastien was an Equity Derivatives Trader for Commerzbank in Hong Kong, focusing on index arbitrage and developing the bank's ETF platform in Asia. Sebastien moved to Hong Kong in 2008 from Paris where he worked at Natixis as an Index Arbitrage and Statistical Arbitrage Trader. He graduated from l'Ecole Centrale de Lyon in France, majoring in Financial Mathematics.
- Research Coordinator
Wendy has worked with Alfred Ho since 1997 and with Gavekal since 2006. Wendy is responsible for managing the firm’s corporate contacts. She holds a Bachelor degree in Business Administration from The Open University of Hong Kong and a Bachelor of Laws degree from the University of Wolverhampton. Wendy speaks English, Cantonese and Mandarin.
- Middle Office
Estella has been working in the financial industry for about 20 years. Previously, she served for more than 12 years at the Bank of East Asia, focusing on supporting the IT functions as well as the Internet Banking system projects and related compliance issues of the overseas branches. She has also worked in the Invesco Hong Kong providing back office IT operation support and has extensive experience in customer support of investment management system. Estella holds master degrees in Business Administration and Information Technology.
- Credit Analyst
Jonathan joined Gavekal as a Credit Analyst in August 2016. Prior to joining Gavekal, Jonathan was a Credit Research Associate in the FI team at Fidelity International (HK) from 2012 to 2016, where he focused on analyzing corporates within the Asia Ex-Japan Industrials space. He graduated from Singapore Management University with a double Bachelor degree in Business Management (Finance) and Accountancy in 2012.
- Equity Analyst
Angela Zhao joined Gavekal in September 2016 as an equity analyst. Before joining Gavekal, Angela was a Hong Kong China equity sales at Macquarie Securities. Previously, Angela was a structured product specialist at Bank of East Asia. She graduated from Shanghai Jiao Tong University (Shanghai Advanced Institute of Finance) in 2013 with a Master of Finance degree, and Michigan State University in 2011 with a Bachelor’s degree in Business Administration.
- Equity Analyst
Arnaud received a MSc in Finance from ESSEC, in France. Arnaud interned with Gavekal for six months in 2015 and followed that up with a stint at Tikehau, a French private equity firm (and Gavekal client). Arnaud joined Gavekal as a permanent staff member in September 2017.
- Global Head of Distribution and Investor Relations
Arthur Blot-Lefevre, with 17 years of experience in finance, has extensive knowledge in asset management, distribution and investor relations. Prior to Gavekal, Arthur co-founded Celeste Capital, a volatility hedge fund, where he led the marketing and fundraising efforts with institutional investors, family offices and high net worth individuals. Before this, Arthur worked for over 10 years at Dexia Bank in New York where he was originating long term funding for the bank and was in charge of investor relations. Arthur started his career in the US at HSBC Bank, where he was structuring asset leveraged financing.
Important Note : The Gavekal Asian Opportunities UCITS Fund, the Gavekal Asian Growth Fund,
the Gavekal China Fixed Income Fund, the Gavekal Global Asset Allocation UCITS Fund, and the
Gavekal Asian Value Fund (the "Funds") are sub-funds of Gavekal UCITS Fund, an open-ended
umbrella unit trust established as an undertaking for collective investment in transferable securities
pursuant to the European Communities (Undertakings for Collective Investment in Transferable
Securities) Regulations, 2003 (as amended). The Gavekal Global Equities UCITS Fund is a subfund
of Gavekal Multi-Fund PLC, an open-ended umbrella variable investment company established as
an undertaking for collective investment in transferable securities pursuant to the European Communities
(Undertakings for Collective Investment in Transferable Securities) Regulations, 2003 (as amended).
Gavekal Capital Limited has been appointed as investment adviser to the Gavekal UCITS Fund and the
Gavekal Multi-Fund PLC. The distribution of the prospectuses relating to the Funds (each the
"Prospectus") is restricted in certain jurisdictions and accordingly it is the responsibility of any person or
persons wishing to make an application to invest therein to inform themselves of, and to observe, all
applicable laws and regulations of any relevant jurisdiction.
The distribution of the prospectuses relating to the Funds (each the "Prospectus") is restricted in certain
jurisdictions and accordingly it is the responsibility of any person or persons wishing to make an
application to invest therein to inform themselves of, and to observe, all applicable laws and regulations
of any relevant jurisdiction.