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Global Equities

Ox Capital Management

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.   



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.  


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.

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.


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.

Contact Ox Capital

Financial Adviser Enquiries
1300 721 637

General Enquiries
1300 721 637 (Within Australia)
+612 8023 5428 (Outside of Australia)

Institutional Investors and Asset Consultants

Carly McMullan
Senior Institutional Business Development Manager