Sandy Liang

Sandy Liang, CFA, is the Head of Fixed Income at Purpose Investments.

Sandy has been a buy-side investor since 2008, following a 17-year career as a credit and equities analyst on the sell side in Toronto and New York. He was a seven-time member of Institutional Investor magazine’s All-America Fixed Income Research Team for his coverage of high-yield debt securities at Bear Stearns & Co. (2001-2007).

Under Sandy’s leadership, the investment team managing the Purpose Credit Opportunities Fund won the Canadian Hedge Fund Award for credit-focused performance for four consecutive years (2018-2021) and has established a decade-long track record for the fund. The team’s Purpose Strategic Yield Fund (incepted in 2011) earned a FundGrade A+ Award in 2021 and holds a Morningstar 5-star fund rating.

With an investment career spanning four decades, Sandy has conducted due diligence on over 1,000 management teams and navigated multiple market cycles, including the Global Financial Crisis and the COVID-19 pandemic. His team’s research-driven approach, refined through deep industry analysis, prioritizes margin of safety and a favourable risk/reward balance.

Sandy holds a B.A. in economics from the University of Western Ontario, an M.B.A. in finance from McGill University, and is a Chartered Financial Analyst (CFA). He joined Purpose in 2017 when Purpose Investments acquired a significant stake in the partnership managing the Purpose Credit Opportunities Fund.

Articles

Excess liquidity cushions against recession

By Sandy Liang (Published on 03-19-2025)