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20 Apr 2010

Cheung Capital Management to launch Global Gaming Opportunities Fund

Today Cheung Capital Management announced the launch of its maiden fund, the Global Gaming Opportunities Fund (“Fund”). The Fund will invest in listed casino and gaming stocks around the world. The Fund is open to Australian wholesale and sophisticated investors.

“The global gaming industry includes casinos, poker machine manufacturers, lotteries and bookmakers and has a total market capitalization in excess of $100 billion. In spite of its size, many traditional fund managers and brokerage houses still shy away from the sector. This presents an opportunity for the Fund to generate strong returns for its clients through the application of bespoke research,” said Timothy Cheung, Portfolio Manager for the Global Gaming Opportunities Fund.

“Gaming stocks can be very attractive for investors because they have defensive characteristics while still retaining exposure to increasing consumer affluence. This is particularly relevant to investors seeking exposure to Asia’s burgeoning middle class. One market the Fund will focus on is Macau, the world’s largest casino destination. In spite of the global financial crisis, casino revenues in Macau have grown every year since it welcomed overseas operators in 2004.”

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