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Discover the Strategic China Panda Fund – High Conviction GARP Investing in Chinese Equities

Investment Team – LBN Advisers Limited

Lilian Co

Portfolio Manager

Lilian Co has over 20 years’ experience investing in Chinese and Asian equities.

After a successful fund management career with Baring Asset Management, Lilian now continues her award-winning investment style with E.I. Sturdza Strategic Management Limited and the Strategic China Panda Fund.

Lilian is a Chartered Financial Analyst (CFA), and holds a Bachelors of Commerce degree from the University of Alberta (Canada) and an MBA from the University of Nottingham (UK). Lilian is based in Hong Kong.

Benjamin Chang


Benjamin Chang (Hong Kong) is the CEO of LBN Advisers Limited, responsible for business management which includes marketing and operational management. Ben has over 18 years‟ experience in IT operation. From 1997 – 2007 Benjamin worked for Goldman Sachs (Asia) L.L.C. joining the company as an IT specialist before being appointed as Executive Director, with the responsibility of managing the finances of Goldman Sachs Asia IT, overseeing USD 40 million spending per annum. Benjamin holds a Bachelors of Engineering degree from Johns Hopkins University (USA) and a Masters of Engineering degree from Cornell University (USA).

Ratings & Awards

Morningstar 3 Star Rated Fund

The Strategic China Panda Fund - A USD share class has a Morningstar rating of 3 stars overall and 3 stars over 10 Years. Morningstar Rating™ as of 31/01/2023. Past performance may not be a reliable guide to future performance. Returns could be reduced, or losses incurred, due to currency fluctuations.


The Strategic China Panda Fund received a Morningstar 5 Globe Sustainability Award. Sustainability Rating as of 31/12/2022. Out of 2,473 Greater China Equity funds as of 31/12/2022. Based on 100.00% of AUM. Historical Sustainability Score as of 30/11/2022. Sustainalytics provides company-level analysis used in the calculation of Morningstar’s Historical Sustainability Score. Data is based on long positions only.


The Strategic China Panda Fund received a Morningstar Low Carbon Award. Carbon Metrics as of 31/12/2022. Based on 91.08% of AUM. Data is based on long positions only.


Top Performer 2021, Asia Pacific Equity Fund, EMEA.

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