Mast Investments aims to cut human bias in tech‑led market

Yung‑Shin Kung left Credit Suisse and UBS in 2024 and founded Mast Investments, bringing a 30‑year proprietary dataset and systematic investment rules intended to reduce human bias and target opportunities in a market dominated by a few large technology companies.

Kung spent nearly three decades building and running liquid alternative strategies at Credit Suisse and UBS. He recalled leaving the banks to move faster and to focus more narrowly on how markets and technology are changing, adding that execution speed and clarity were central to the decision.

He noted a shift in data availability over the past decade: the expectation that technology would produce ever more accessible data has given way to a reality where clean data is scarcer and more expensive. Mast’s dataset, assembled over 30 years, is presented as a response to that shift.

Mast applies programmed rules and automated processes to limit behavioural biases that can affect discretionary managers. Kung described the approach as one that seeks dispersion created by post‑COVID growth patterns, where gains are concentrated in a handful of technology leaders while other sectors lag.

The firm’s systems are designed to move capital quickly when conditions change. Kung highlighted the ability to exit turbulent positions and reallocate into pockets of growth as a feature of the firm’s automated processes.

Mast operates exchange‑traded funds alongside alternative strategies. Kung pointed to ETFs’ transparent fee structures and exchange liquidity, noting many ETFs-including those managed by Mast-charge a single unitary fee rather than a separate management fee plus additional expenses. He added that ETFs typically have market makers to support secondary‑market liquidity, which differs from some hedge fund liquidity profiles.

On portfolio construction, Kung argued that alternatives should be treated as foundational allocations rather than tactical hedges. He stated alternatives can offer returns that are less correlated with traditional assets while still aiming for reasonable return potential, supporting diversification when traditional assets move together.

Talent retention and intellectual property control were cited as practical drivers for founding Mast. Kung pointed to a trend of investment professionals seeking greater ownership and agency over their strategies and data as large platforms scale.

Kung and Mast plan to continue focusing on technology‑led market dynamics and on maintaining the data and systems that support their processes. He emphasized priorities of execution speed, clarity in strategy, and tools intended to reduce behavioural bias in investment decisions.