Mark Read HK Trading Funds more often than not generate returns in excess of stock market and global hedge fund indices. Most relevantly, the extraneous forces that create black swan events that decimate other financial markets have limited influence in our trading sphere.
Historically, it is well documented that wagering has a relatively inelastic demand. HKJC betting turnover was remarkably stable for the 2019/20 season-only 2% down on a record 2018/19 (HK$124bn/AU22.5bn) – this despite local disruption and COVID resulting in the closure of betting shops and racing without fans. The local punters moved to on-line and comingling from Australia, UK, Canada, Europe, Singapore and the US contributed 19.3% of turnover- an increase of 25.3% year on year.
The HKJC never rests on its laurels. Already it has announced an increase of 20% (10% becomes 12%) for volume rebates for the season beginning September 2020.This is a direct boost to our future performance – it’s a multiplier as it will increase turnover and margin in our trading programme.