Hedge Fund Returning 17% on Sports Bets Moving to Europe
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Priomha Capital Pty Ltd, an Australian hedge fund manager that bets clients’ money on sports, plans to relocate to Gibraltar by the end of the year to double the A$5 million ($3.9 million) it has under management.
Melbourne-based Priomha’s multisports fund returned an average of 17 percent since 2010 by betting all of the funds as often as twice a month, Chief Executive Officer Brendan Poots said in a telephone interview. Priomha uses computer models to wager on English Premier League soccer, as well as cricket, horse racing, golf and tennis.