Strategy 1 · Highest Risk

Research-led, concentrated exposure to key thematics.

Discretionary stock selection across the AI value chain. Entries timed on valuation and macro cycle — not held passively.

Approach

Offence, not indexing.

High Beta is a concentrated book built around structural growth themes in the AI value chain. We pick stocks, size positions with conviction, and time entries on valuation and macro cycle — we do not hold passively or shadow a benchmark.

The portfolio manager, Ben Lin, brings sell-side and buy-side experience across Asia tech and capital markets. Each position requires a research case, an entry thesis, and a defined exit discipline.

person

Portfolio ManagerBen LinEx-VP Capital Group HK · Ex-MD Morgan Stanley Asia

trending_up

Risk ProfileHighestHigh beta by design — strong upside, amplified volatility

target

Entry DisciplineValuation + MacroActive timing used to control drawdown — not passive holding

group

Suitable ForConviction ClientsClients who can carry a concentrated, volatile book alongside lower-risk sleeves

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Representative Themes

Where we invest.

The book concentrates on four structural themes across the AI value chain. Holdings rotate as valuations and cycle conditions evolve — the list below is representative, not exhaustive.

memory

Memory Chips

AI training and inference demand explosive DRAM and NAND capacity. Supply is structurally lagging buildout pace.

MUSNDKSK HynixKioxia

bolt

Compute & Power

Data centre power density is the binding constraint on AI scaling. Infrastructure and energy plays benefit structurally.

BEGEVNBISCRWV

smart_toy

Domestic LLMs

Chinese frontier models are closing the gap. Regulatory tailwinds and state adoption create durable revenue floors.

MiniMax 0100.HKZhipu 2513.HK

cable

Optical Interconnect

Bandwidth inside and between data centres is the next scaling bottleneck. Optical wins over copper at hyperscale distances.

LITECOHRMRVL

Track Record

Proprietary capital · 1 Apr – 31 Aug 2026

Five months is not yet a track record. Proprietary capital only — not a client composite, no fee drag. AI-assisted since April. Present as early evidence the process works and reconciles — resist annualising.

+24%Cumulative return
net of flows

41.3%Annualised
volatility

−14.30%Max drawdown
(fully recovered)

+18.29ppExcess over
pro-rated 10% hurdle

+6.34%Apr

+11.03%May

+2.94%Jun

−14.30%Jul

+17.43%Aug

Figures as represented by the portfolio manager, unaudited and not independently verified. Return vs 10% p.a. hurdle, pro-rated to 0.403 years = 4.03%. Cleared by +18.29 percentage points.

Fees

Transparent, outcome-aligned.

Management Fee0.50%Per annum, charged annually

Performance Fee20%Above 8% hurdle · High-water mark applies

Dealing CostsAt costCharged by broker at its own rates, separate from our fees

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Fees illustrative and subject to the fee schedule approved with each client. Plus dealing costs at the broker's own rates.

Independent advice. Client-held assets. Transparent alignment.

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