Jun Bei Liu

An active investor with over two decades of experience.

Jun Bei is a passionate, motivated, and dedicated investment manager. Currently based in Australia, she regularly travels to China and other Asian markets as part of her investment research. Jun Bei is also a popular media personality and a highly sought after public speaker about her investment views, and being a regular participant in prestigious conferences such as Sohn Hearts & Minds and TedX.
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She is also a prolific contributor to Australia’s financial services sector, writing a regular column for the AFR and making frequent appearances for top-tier media outlets such as Forbes and The Australian, and as a speaker at key industry events. Jun Bei enjoys sharing her knowledge and love for markets with investors and promotes the growth of like-minded females within the financial services community by providing mentor opportunities and serving on the advisory committee for the Australian Student Asset Management. She has also been appointed as a Core Fund Manager for Hearts & Minds Investments and volunteers for the Raise Foundation Board.
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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.

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Insights from Jun Bei

Investment Update - Portfolio Reflections Jul-25

Investment Updates

Equity markets continued to climb through June although alot of the "momentum" stocks began to fade towards month end. This made for a tricky investment backdrop as the winners became losers and losers became winners. An uncertain backdrop means that there will be times when markets move against the trend on a short term basis. Encouragingly, the IPO markets is open again with Virgin leading the charge. Listen as lead porfolio manager Jun Bei Liu provides an update on the quarter, what has been working and where she sees the opporunities as we mook ahead.

News & Media - Faster and deeper cuts are bullish equities

We think last week's May CPI print, which was better than expected at both a headline and core level and showed a favourable mix with services and housing both stepping down, has provided a green light for the RBA to cut faster and deeper. A rate-cutting cycle outside of an economic recession is bullish.

News & Media - Why you need REA in your portfolio

"Every housing cycle has a leader. In Australia, that leader is REA. It has the brand, the platform, and the pricing power. It has margin, cash flow, and multiple growth levers." Our lead portfolio manager, Jun Bei Liu, explains why REA Group’s dominant market position, powerful data assets, and pricing power make it a standout in the digital real estate sector and why she believes REA is well-placed to capture growth while maintaining strong margins.

News & Media - Virgin Takes Flight on the ASX

On airlines, Warren Buffett once said “the worst sort of business is one that grows rapidly, requires significant capital to engender the growth, then earns little or no money”. This is hard to argue against, but everything has a price, even airlines as we have seen with the hype around the listing of Virgin.

Investment Update - Portfolio Reflections Jun-25

Investment Updates

It’s been a challenging and at times, stressful environment for equity investors over the past few months. Markets have done a round trip, rising to all-time highs in February, falling to within a whisker of a bear market through March/April before climbing a wall of worry back close to fresh highs by June. These are not normal times, but they are a function of investing in risky assets - where we manage the good and the bad. The Alpha Plus fund led by Jun Bei Liu, has weathered this volatility better than most by being pragmatic, avoiding large risk-on/risk-off rotations and sticking to a well-tested bottom-up fundamental process. Hear how Jun Bei and the team have managed the portfolio through this period and how they are positioned to take advantage of an uncertain environment in her June Market Reflections update.

Investment Update - Buy, Watch, Sell

Investment Updates

Founder and Lead Portfolio Manager Jun Bei Liu, presents Ten Cap's first "Buy, Watch, Sell" stock idea series. In this months update, she outlines the buy thesis for a2 Milk (A2M.AU), why we are selling Endeavour (EDV.AU) and why Cochlear (COH.ASX) remains on watch.

News & Media - Jun Bei Liu: How I learnt to speak up

Jun Bei Liu rarely used to speak up. The co-founder and portfolio manager at Ten Cap shied away from talking in meetings because she felt her English wasn’t good enough and she didn’t understand jokes. But a teacher at a presentation course told Liu her speech patterns and energy levels were what separated her from others. “I took that into account. It changed how I perceive myself.

Jun Bei presents her insights on the COVID-19 Pandemic at TEDxSydney

She explores how sentiments have changed and whether these changes will lead to a more profound structural shift.

Giving Back

Jun Bei Liu’s commitment to using finance as a force for good is reflected in her active involvement with several leading philanthropic and governance organisations.
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She is a Core Fund Manager at Sohn Hearts & Minds, where investment insights directly support medical research. As a member of the Advisory Council for the Raise Foundation, she helps champion youth mental health initiatives across Australia. Jun Bei also served on the Climate Governance Panel, contributing to the integration of climate risk into corporate strategy. These roles reflect her broader philosophy as the founder and portfolio manager of Ten Cap—where investment performance and social impact go hand in hand.