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Alternative Market Briefing

Hong Kong Jockey Club raises alternative investments, hedge funds by 34% since last year

Monday, September 15, 2014

Komfie Manalo, Opalesque Asia:

Hong Kong’s largest taxpayer and lone horse-racing operator Hong Kong Jockey Club has raised its investments in alternatives by 34% since last year to $1.6bn (HK$12.7bn) from $1.3bn (HK$9.5bn).

In a report, Business Week said the club’s investments in hedge funds, private equity and private real estate was boosted by the 10% surge in its revenues.

With the increased revenue, retiring HKJC chairman T. Brian Stevenson said the Trustees had taken a conscious decision to increase the donation amounts in recent years in view of the club's charities strategy of proactively addressing issues of long-term concern in the community.

"We have especially looked these past few months for projects of long-term impact in areas of unmet demand like medical and health services, the needs of the middle-class and the elderly, support for the disabled and investment in education and youth development," he explained. "So this year's huge sum is not just a measure of the record number of projects supported, some 168 in all, but also a reflection of our commitment to supporting many larger and more impactful projects".

The club's Charities Trust had been able to donate a record HK$3.61bn to charitable and community projects – an increase of al......................

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