Hong Kong Jockey Club buys hedge funds

Casting the mould for others, Hong Kong''s premier plan sponsor will invest about $100 million in two US-based funds of hedge funds in May.

Laying to rest much industry speculation, the Hong Kong Jockey Club has confirmed that it will invest about $100 million in funds of hedge funds in early May. Two US-based funds will receive the allocations following a due diligence exercise lasting more than nine months.

The move is a bold but well overdue step into the world of alternative investments for the habitually conservative Jockey Club. It is expected that other plan sponsors in Hong...

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