Ox Capital Management


Ox Capital Management (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. Dr. Lai and fellow Principals Douglas Huey and Alan Zhang collectively have over 50 years experience investing in Asian and emerging market equities. 

The team seek to participate in the vast growth opportunities and long-term trends arising out of the Asia region and other emerging markets. 


OxCap’s investment approach is to identify the immense changes taking place in Asia and other key emerging markets to find investment opportunities. Put simply, they seek to do the following:

  • Buy companies that can take advantage of changing dynamics as a result of rapid economic growth in Asia and emerging markets. 
  • Buy only when they are cheap. 
  • Protect the portfolio against the potential setbacks using a combination of top down and bottom up quantitative and qualitative analysis, otherwise let these companies compound.

OxCap’s investment style is long term and contrarian. They will seek to add to prospective quality businesses when valuation is attractive, sometimes in less obvious areas. 

They will also seek to avoid or short overvalued businesses that are facing structural headwinds or with poor ESG characteristics and management track-records. 

OxCap believe investing in the businesses with strong sensible management that employ sustainable agile business strategies can achieve superior long-term outcomes.