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Damien Hatfield By Beverly Chandler, Opalesque London:
Triple A Partners’ Damien Hatfield reports that Cheung Capital Management is opening up its casino and gaming fund to outside investors.
Sidney-based Cheung Capital Management was founded in 2009 to manage and promote funds in the alternative investment space, focusing on investment strategies in overlooked or out of favour niches. The firm’s maiden fund is the Global Gaming Opportunities Fund, a long-short fund focused on listed gaming stocks around the world. Launched in early 2010, to take advantage of the growth in the gaming market, particularly in Asia and on line, the Global Gaming Opportunities Fund has achieved a return of 14.9% for the first quarter of 2012, net of fees. Cheung Capital reports that this performance was underpinned by a long tilt towards Macau and some successful special situation investments.
The firm says that since inception the Fund has returned approximately 11.1% per annum annualised. Hatfield reports that now Cheung Capital is to launch a long-only vehicle. Hatfield quotes Timothy Cheung, Cheung Capital’s founder, as saying: "The fund
has especially benefited from the phenomenal
growth of Macau, Chinaʼs only legal gaming
market which offers a ʻpureʼ play on the China
consumption st...................... To view our full article Click here
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