Julex Capital

Julex Capital
40 Grove Street, Suite 140
Wellesley, MA 02482
781-489-5398

Articles by Julex Capital

Henry Ma, Ph.D., CFA.
President and Chief Investment Officer

Dr. Ma has two decades of hands-on and leadership experience in investment management. Prior to founding Julex, he managed a global macro hedge fund with Geode Capital Management. Earlier, he served as Director of Quantitative Research and Financial Engineering with Loomis Sayles & Co., and Director of Quantitative Research and Risk Management with Fortis Investments, where he led quantitative research and risk management efforts. Dr. Ma also worked as Director of Fixed Income Strategies at Sun Life Financial, where he helped manage $30 billion in fixed income assets. His investment career began with John Hancock Financial Services as a Senior Associate Investment Officer. Dr. Ma is a published author and an industry speaker on quantitative investing and risk management. He earned a Bachelor and a Master in Economics and Management from Peking University and a Ph.D. in Economics from Boston University.

Brian Phelan
Managing Director

Brian brings over thirty years of capital markets experience to Julex. He spent over 22 years as a First Vice President at PaineWebber Group in institutional fixed income sales covering major and middle market accounts for investment grade and high yield corporate debt, residential and commercial mortgage backed securities, asset backed securities and rates. After UBS purchased PaineWebber, Brian transferred his skill sets to Deutsche Bank Securities in Boston as a Director in the generalist fixed income securities platform within the Capital Markets Group. Most recently Brian co-founded MacBride Partners. MacBride Partners was a consulting organization whose mission was to assist its clients in the investment management industry improve investment performance by implementing best practices in investment processes, risk management and faithfulness to stated investment philosophies. Brian graduated from the Carroll School of Management at Boston College with a BS in General Management / Marketing.

Jeffrey Megar
CFA, Managing Director

Jeff brings over 20 years of investment management experience to Julex Capital, predominately as an institutional portfolio manager. He had portfolio management oversight of a high yield bond mutual fund and institutional strategies at State Street Global Advisors where he was a Vice President and Senior Portfolio Manager. Prior to joining State Street, Jeff was a Senior Portfolio Manager at Fortis Investments where he helped establish Fortis’ structured credit business, launching the firms inaugural Collateralized Loan Obligation (CLO). While at Fortis, he established a comprehensive investment and credit review process and managed the firms Leveraged Loan platform. Before Fortis, Jeff held various credit position at CypressTree Investment Management and Prospect Street Investments. He received is BA in Economics from Framingham State University and his MBA in Financial Management from Northeastern University. In addition he holds the Charted Financial Analyst designation.

Erik Philbrook
Managing Director

Mr. Philbrook brings over 20 years of finance industry experience to Julex Capital. Most recently he was the Head of Finance, Alternatives and Performance at Geode Capital Management, LLC, with responsibilities ranging from firm and fund audit, firm GIPS verification, Treasury, Client relations, Compliance, Marketing and Valuation. He also worked at Fidelity Investments managing accountants responsible for High Yield fund valuation and as a Senior Analyst working directly with Portfolio Managers on corporate action research and election. He also worked for Brown Brothers Harriman as part of a centralized management team responsible for department policy and performance measurement. He received his BS in Business Administration with a dual concentration in Finance and International Business from Northeastern University. He received his MBA from Southern Methodist University.

More Articles

Are Free ETF Portfolio Strategies Really Free?

Are Free ETF Portfolio Strategies Really Free?

By Henry Ma, Julex Capital One of the recent developments in the ETF strategist industry that caught advisors’ attention is so-called free ETF portfolios. Fierce Competition and More Fee Conscious…

Will Wage Growth Drive Up Inflation?

Will Wage Growth Drive Up Inflation?

By Henry Ma, Julex Capital Management The most recent two job reports moved the equity market significantly. The S&P 500 Index jumped 1.7% on March 9th after the Labor Department reported…

What Happened to Stocks When the Fed was Tightening

What Happened to Stocks When the Fed was Tightening

By Henry Ma, Julex Capital Management The stock market plunged on rising interest rates worries after stronger-than-expected job and wage numbers were reported on February 2nd. The sharp sell-off in the…

3 Worst Bear Markets Started with High PE

3 Worst Bear Markets Started with High PE

By Henry Ma, Julex Capital Management As the stock markets continue setting records day after day, many investors are becoming more and more concerned about the potential over-valuation and a possible…

Is There a Passive Investing Bubble?

Is There a Passive Investing Bubble?

By Henry Ma, Julex Capital Management Since I published the article “The Economic Analysis of Active vs. Passive”, I have received a lot of feedback from friends and colleagues. A number…

Looking for Value? Go Abroad

Looking for Value? Go Abroad

By Henry Ma, Julex Capital Management Since the end of the financial crisis, the US has led the global equity market recoveries for over eight years.  Table 1 shows the total…

Is Low Volatility a Contrarian Sell Signal?

Is Low Volatility a Contrarian Sell Signal?

By Henry Ma, Julex Capital Management One of the most-watched fear gauges on Wall Street has been traded at the lowest levels in decades. The CBOE Volatility Index VIX, which is…

Is Smart Beta Smarter Than Indexes?

Is Smart Beta Smarter Than Indexes?

By Henry Ma, Julex Capital Management In the past 10 years, smart beta has become one of the fastest growing investment segments. Being called by different names such as strategic beta,…

How to Select Tactical Asset Allocation Managers

How to Select Tactical Asset Allocation Managers

By Henry Ma, Julex Capital Management, President and CIO Tactical asset allocation (TAA) is a dynamic strategy that actively adjusts the asset weights in a portfolio based on the manager’s short…

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