A poker competition this week among Australian hedge fund managers and rugby league players will give proceeds to a charity investing in diagnostics technology for the Children’s Hospital at Westmead, Sydney.

Hedge fund managers participating in the 2007 Australian hedge fund charity poker tournament will pay a $300 entry fee and receive $1500 worth of ‘charity chips’ to gamble with. Proceeds go to Sydney children’s cancer charity, Cure Our Kids, which will then purchase diagnostics equipment for the Children’s Hospital at Westmead. A $5000 prize and a trophy will be awarded to the winner of the competition, which takes place in the Tattersalls Club, Sydney, on March 22. Former Kangaroo and Penrith Panthers representative and Cure our Kids ambassador, Ryan Girdler, will take part in the competition and has recruited other rugby league professionals to line up against the managers. The Australian hedge fund industry has raised $1.15 million for Cure Our Kids during the past five years, primarily through the Australian hedge fund and alternatives directory and hedge fund awards. Cure Our Kids chief executive, Carolyn Dodds, said the poker event grew from the popularity of Texas Holdem Poker within financial ranks.