Rss

Australian Hedge Fund Moving to Gibraltar for Better Returns

Priomha’s CEO Brendan PootsMelbourne-based Priomha Capital Pty Ltd, which runs a hedge fund and invests money on sports betting for its clients, is planning to relocate to Gibraltar by the end of 2015 to double its funds. The fund has been able to earn interest rate of 17 percent per annum for its clients by betting on sporting events nearly twice a month. Priomha Capital, which presently has around $3.9 million under management, uses hi-tech computer models to lay wagers on international soccer events, cricket matches, horseracing events, golf tournaments and tennis matches. According to Priomha’s CEO Brendan Poots the sports fund is planning to expand its operations at a cautious pace to earn steady returns as between 2010 and 2012 it has grown by 129 percent when compared to other stagnant hedge funds.

Future plans of Priomha Capital Pty Ltd

The sports fund which places bets on sporting events across the globe is planning to target high net worth families and individuals after it moves to Gibraltar. It is confident of attracting more customers after the move as it will provide investors more comfort and confidence since hedge funds in that region are more strictly regulated. Gibraltar also provides better tax benefits when compared to Australia so Promha Cpaital is hoping to increase its earnings after moving to the region.

Priomha’s winning formula

The firm has been able to maintain a stable record. It employs statisticians that work with traders to make qualitative judgement on outcomes of sporting events like U.K.’s most popular horse races. To offset losses, it places very cautious bets and looks for value by tracking statistics of that particular sport against betting odds both and after matches. The CEO of Priomha Capital Pty Ltd, Brendon Poots stated that the firm is in discussion with Gibraltar’s Financial Services Commission that they will operate as a private fund for around 12 months before going public as a full fledged investor fund.

Comments are closed.