Dynamic Syndications, Australia's largest and most successful syndication company, as part of our due diligence protocols are always reviewing various activities in ongoing audit situations of all our sub contracted suppliers with whom our company employs under contract, to care for our horses.
From time to time we are required to act swiftly and decisively to protect the financial interests and investments of our clients holding the majority positions in each horse by ensuring that industry participants who supply services to our managed horses, do so in a manner of transparency and integrity to accepted business practice.
On Saturday 22nd October, Dean Watt, Managing Director of Dynamic Syndications terminated the services of sub contracted training operation Kevin Moses Racing Stables at Randwick.
This decision was fully investigated and recorded prior to the decision being enforced on that date. The decision was taken after concerns over several matters but fundamentally, it was due to a lack of acceptable racetrack results over a period of long standing.
In any business, decisions are made based upon productivity and financial return. The results of the stable with Dynamic Syndications horses are well below industry acceptable standards and significantly below results generated by all other sub contracted Dynamic Syndications trainers. This impacts on our client's ability to receive prizemoney income to meet their ongoing costs of racehorse ownership.
This was a matter highlighted to Racing NSW on Friday afternoon.
As at 25 November on the NSW Trainers Premiership for the 2011-12 Racing Season, current sub contracted Dynamic Syndications trainers in NSW include: (1st) Chris Waller 48 wins @ 14.95%, (5th) Darren Smith 26 wins @ 22.61%, (9th) Gerald Ryan 19 wins @ 12.34%, (19th) David Payne 11 wins @ 7.34%.
In comparison, the Kevin Moses stables were in 217th position with 2 wins from 53 runners and a Winning Strike Rate Percentage of 3.7%.