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.
Leadership Team
Jason Todd
Jason is the Chief Executive Officer (CEO) and Chief Investment Officer (CIO) 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 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.
Jun Bei Liu
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.
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.
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.
Craig Morton
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. Prior to this, Craig was Chief Financial Officer of international equity fund manager Montaka Global Investments. Craig spent the past two decades at various investment banks in London, Johannesburg and Sydney in trading and sales roles across stock lending, prime brokerage and equity derivatives. Craig is a qualified Chartered Accountant, holds a Bachelor of Business Science (Finance) from the University of Cape Town and an Honours in Accounting from the University of South Africa.
Investment Team
Nicholas Varcoe
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.
Charles Pegum
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.
Christian Clementson
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.
