Sports trading Group sets its sights on global expansion
Hong Kong investment funds seek alternative to traditional financial markets
Online PR News – 23-October-2012 –A MERGER between a Hong Kong based investment fund and the ultra-private Sportalists Club, has created an unprecedented global player in the sports trading market.
The merger agreement comes whilst the ink is still wet on the announcement from China’s insurance regulator that it will allow the nation’s insurance companies more leeway in how they invest, enabling the firms to trade index futures and financial derivatives based on the domestic market, while also opening more channels to overseas investment.
The China Insurance Regulatory Commission announced the changes in documents posted online Tuesday, according to reports by Dow Jones Newswires and Reuters.
The companies will be permitted to trade forwards, swaps and futures in China’s domestic markets, while barriers will be lifted on investment in authorized products geared to 25 developed and 20 emerging markets, the reports said.
Prior to the changes, mainland insurers had to limit their foreign investment activities to Hong Kong.
“The Sportalists Club has long been talked about as a group of the most astute sports traders in the world, who zealously protected their privacy,” said Julian Carr, a city stock broker.
“They are regarded as sports specialists whose investment universe centres on sports and prediction markets,” he said.
“Their successes are extraordinary and the profits they make for their partners are the envy of many a hedge fund manager,” Mr Carr said.
According to Sportalists Club Asia Director, Mr Patrick Raleigh, whilst traditional financial markets are failing to produce reliable returns, the Sports and prediction markets have proven to be the most reliable place to invest.
“Trading on sports markets is more profitable and more reliable than speculating with shares on the stock market,” Mr Raleigh said.
“The sports market has more transparency and less inefficiency than the stock market, which opens the way for astute profitable trades,” he said.
The rapid growth in the sports market has been attributed to it not being affected by the economy and there’s no intervention from outside parties like a central bank or a government that can take the investor by surprise.
The Sportalists Club is a private group of sporting analysts who trade on sports and prediction markets.