‘There will be no Leicester this season’ sport bets fund manager says
Brendan Poots, the manager of the Priomha Capital Cloney Multi-sport Investment Fund and its Gibraltar-domiciled version which will start trading on 1 October, says the fund will be taking some positions in the major European football leagues.
In his view, “there will be no Leicester this season in the Premier League”. Priomha Capital’s analysis suggests that Manchester United is a “strong LAY” (short position) as are Liverpool and Tottenham.
“Chelsea, Manchester City and Arsenal will lead the way,” the fund manager believes.
“In the Premier League winners market, Manchester United have continued to shorten (in our view inexplicably) from our LAY of $5.00+. We are currently sitting on a loss on this trade which has been accounted for in the monthly return.”
Regarding the US Open that just started, the Australian hedge fund highlights that it is “still evaluating the merits of tennis” because the domination of top players makes it “a troublesome asset class to trade”.
Back in June, the Priomha Capital Cloney Multi-sport Investment Fund traded on the Uefa Euro 2016. Poots told InvestmentEurope the fund did good (gross return of +0.74%) during the event but could have done better.
Belgium’s defeat to Wales in quarter-finals and the France-Germany meeting in semi-finals have impacted the fund performance.
“We had multiple positions favouring Belgium both in this match and the tournament. Their defeat meant we started the month on the back foot with a 1.5% loss.
“We traded consistently across other matches and if not for the semi final meeting between France and Germany we would have made a profit from football for the month.
“We had a tournament BACK of Germany (long position) and LAY of France (short position). We erred on the side of conservatism and closed both positions before this match. Both trades had only marginally moved in our direction meaning we made no profit from either position,” the manager explained in the fund’s July report.