How we invest

Clipper Advisor brings to Chinese clients the “Yale Model”, which is widely accepted in developed financial markets. Through mobile web applications clientsnetwork achieve “global asset allocation by one click”.

World class investment committee

Zhen Liu

Founder/CEO

Mr. Liu spent more than two decades on Wall St., managing multiple global hedge funds with proven records. Mr. Liu Joined E Fund as the head of Index and Quantitative Investment in 2009. Launched the first ever hedge fund in China in 2010, managing over $10 billion in assets. Founded Clipper Advisor in 2015, the first robo-advisor in China.

RONALD KAHN

MANAGING DIRECTOR, BLACKROCK

Ronald N. Kahn, PhD, Managing Director, is Global Head of Scientific Equity Research at BlackRock. Before Blackrock, Dr. Kahn was Global Head of Equity Research of Barclays Global Investors (BGI), which merged with BlackRock in 2009. Prior to joining BGI, he worked as Director of Research at BARRA. With Richard Grinold, Dr. Kahn authored “Active Portfolio Management: Quantitative Theory and Applications”.

Jennifer Huang

Professor of Finance, CKGSB

Jennifer Huang, PhD, is a Professor of Finance at Cheung Kong Graduate School of Business (CKGSB). Dr. Huang sits on the editorial boards of Journal of Pension Economics and Finance, International Review of Applied Financial Issues and Economics, and International Review of Finance. She received her PhD from the MIT Sloan School of Business in 2003.

Sitao Xu

Chief Economist, Deloitte China

Sitao Xu is the Chief Economist of Deloitte China. Before joining Deloitte, Mr. Xu has held multiple economic-related positions in large enterprises. Which includes Regional Treasury Economist at Standard Chartered Bank, Head of Economics (Asia) at Societe Generale, Head of Economics at ICBC Asia and Chief Representative China of the Economist Group. Mr. Xu received his master degrees in economics and finance from the Boston College Wallace E. Carroll Graduate School of Management and the University of Connecticut.

The art of investment is evolving

as the science of investment

Ronald Kahn, Active Portfolio Management

Modern Portfolio Theory

Diversification is the only free lunch. In modern portfolio theory, investors can find a portfolio that yields the highest expected return given any risk level.

Yale Model

The Yale Model is based on modern portfolio theory and invests in low correlation asset classes, including stocks, bonds, international stocks, hedge funds, private equities and real estate investments. Yale’s endowment has adopted this model since the 1990s with fantastic results, even throughout the 2008 financial crisis. The Yale model has become best practice for institutional investors worldwide.

Behavioral Finance

Traditional finance studies are based on the assumptions that investors are rational, risk averse and utility maximizing. However, investors are not 100% rational in practice. Behavioral finance therefore studies how investors behave and make decisions differently in various market environments and thus finds the optimal investment portfolio for investors.

Investment Process

We follow a rigorous investment process that has been proven effective by institutional investment, including analyzing risks and returns of investable assets, constructing optimal investment portfolios based on investors’ risk appetites, following market development and investors’ risk preference and dynamically managing risks and rebalancing.

Performance Attribution / Risk Management

Clipper Advisor adopts professional performance attribution and risk management methodologies to attribute the portfolio’s return and risk in a transparent and controllable manner, thus enabling timely dynamic portfolio optimization.