Ox Capital Management: Global Equities Investment Managers

About Ox Capital

Ox Capital Management Pty Ltd (OxCap) is an Australian-based boutique investment manager specialising in emerging market equities. Founded in 2021, OxCap brings together a team of experienced emerging market investors led by Dr Joseph Lai.

The OxCap team aim to deliver consistent outperformance by investing in high quality, undervalued, well-run companies that are exposed to the vast growth opportunities and long-term trends arising out of emerging markets.

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Approach

OxCap’s investment approach is to identify the immense changes taking place in Asia and other key emerging markets and to find opportunities that can benefit from these changes. Put simply, the team aims to:

Identify good businesses that are positioned to take advantage of changing dynamics as a result of rapid economic growth in Asia and other key emerging markets.
Have the discipline to acquire these businesses only when they are cheap.
Protect the portfolio against periods of volatility using a combination of top down and bottom up quantitative and qualitative analysis. Otherwise let these companies compound.

Our Funds

Ox Capital Dynamic Emerging Markets Fund

Global Equities

The Fund is a concentrated portfolio of high quality, undervalued, well-run companies in emerging markets.

ESG

OxCap considers ESG issues (positive or negative) to form a natural and important part of the fundamental research process given the direct impact on the financial performance of companies. Consequently, all members of the investment team are charged with understanding the OxCap ESG philosophy and policies, and effectively applying them throughout the investment process.

Learn more

ESG is embeded in stock research.

The team exclude tobacco, controversial and other ESG problematic companies during screening.

Proprietary ESG scores and materiality maps are used to evaluate ESG risks.

OxCap’s engagement activity centres on constructive dialogue to encourage better ESG practices for companies.

OxCap is a signatory of the United Nations backed Principles for Responsible Investment.

Resources

Insights

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2025 EM Outlook: Reading the tea leaves

Emerging markets are poised for a resurgence in 2025, driven by robust fundamentals, attractive valuations, and opportunities in key regions like China, Indonesia, and Vietnam, making this an opportune time for investors.

Ensombl | Investment Podcast – Emerging Markets

In this ensombl podcast episode, host James Whelan is joined by Joseph Lai, Chief Investment Officer at Ox Capital, and Bryce Anderson, Portfolio Manager at Morningstar, to discuss emerging markets.

Finding Alpha Podcast | Exploiting the valuation gap

Dr Joseph Lai, from Ox Capital talks about the global franchises that are attractive right now and why he thinks that China’s equity market is flashing green.

Team

OxCap brings together a team of experienced emerging market investors led by Dr. Joseph Lai. Dr. Lai and fellow Principals Douglas Huey and Alan Zhang collectively have over 45 years experience investing in Asian and emerging market equities.