HONG Kong investors seeking to ride the global trend towards leisure-related stocks should consider the Invesco Global Leisure Fund.
The Denver-based fund managed by Timothy Miller returned 36.4 per cent in the 12 months to July 1, according to Micropal.
Other funds in the sector also performed well over that period. Guinness Flight's Global Leisure Fund returned 25.29 per cent and the Hansard/GF GSF Global Leisure Fund also provided a good return.
Why set up a fund devoted to the leisure industry? The answer is that anything which proves attractive to investors is a success, but there are other reasons.
Mr Miller said: 'We believe that the leisure sector is interesting due to the last few decades of strong economic growth globally, which has generated substantial wealth and pools of disposable income both in the more mature economies of the West and in the emerging markets.' Nearly half the fund is invested in leisure-related stocks in North America, with about 24 per cent in Asia and 28 per cent in Europe.
Mr Miller said he used a bottom-up stock-picking approach. His favourite stocks include Dickson Concepts, Japanese software firm Square Co, jeweller Bulgari and US clothing retailer Neiman Marcus.