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Article: In the stretch, it's hedge funds Hong Kong Jockey Club's risky bets set pace for investors BUSINESS ASIA by Bloomberg
- Article from:
- International Herald Tribune
- Article date:
- April 21, 2006
- Author:
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Patricia Cheng
International Herald Tribune
04-21-2006
The Hong Kong Jockey Club, the Chinese territory's only legal gambling forum, is raising its bets on hedge funds. The club, which leads investing trends in Hong Kong, has amassed $164 million in the loosely regulated funds since 2002 and is looking for more, said the club's treasurer, Jacob Tsang. Its holdings beat the 21.7 percent return of the HFRI Fund of Funds Composite Index between 2002 and June 30, 2005, the end of the club's latest financial year, he said.''We don't think conventionality will win the day,'' Tsang said. ''As our portfolio grows in size, we expect to increase our investments in the alternative asset class.''Hong ...