Fri, May 24, 2013
A A A
Welcome Guest
Free Trial RSS
New! Family Office and Investor Database with 11,750 contacts
Alternative Market Briefing

AIMA’s Hong Kong chapter welcomes open-ended investment company proposal
Thursday, February 28, 2013

Komfie Manalo, Opalesque Asia: The Hong Kong chapter of the global hedge fund industry association, Alternative Investment Management Association (AIMA), on Thursday welcomed the proposal of Hong Kong’s Financial Secretary John Tsang to allow local open-ended investment companies.

Phil Tye, Chairman of AIMA Hong Kong, said, "We believe that having a locally incorporated vehicle whose primary regulator is the Securities and Futures Commission is extremely important for local managers and potential new market entrants. We would like to express our support for the Financial Secretary and the Financial Services Treasury Bureau (FSTB) for their identifying this key initiative."

The proposals, included in the budget, calls for the conduct analysis to understand the benefits of introducing a locally incorporated open-ended investment vehicle for use by the local funds industry, which will enhance Hong Kong's standing as a regional asset management hub, particularly if the current offshore funds profits tax exemption is extended to all bona fide hedge funds domiciled in Hong Kong.

"These proposed changes are a step in the right direction to further strengthen Hong Kong’s role as a regional asset management center, helping to create jobs in Hong Kong from support services to these new locally-incorporated vehicles," Tye added.

In the same budget proposals presented before Hong Kong’s Legislative Council, ......................

To view our full article Click here
Article link
Banner
Today's Exclusives Today's Other Voices Banner More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing
  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Opalesque Exclusive: Endurance Series Trust launches first mutual fund, multi-series trust[more]

    Bailey McCann, Opalesque New York: Endurance Series Trust, a multi-series trust, is launching with Gator Capital Management, LLC as the adviser for the Trust’s first mutual fund series. Endurance Fund Services, LLC, an independently owned and operated fund administration company will serve as t

  2. Morgan Creek Capital Management to acquire Signet Capital Management[more]

    Bailey McCann, Opalesque New York: Investment firm Morgan Creek Capital Management has acquired Signet Capital Management a UK-based credit fund of funds with $700M in assets under management. Under the agreement, Signet will contribute its funds and senior investment management team to Morgan Creek

  3. North America – Students are launching hedge funds on colleges across America[more]

    From Valuewalk.com: …From Cornell, whose student-run hedge fund beat Wall Street returns to the University of Michigan, which allows its students to manage as much as $250,000, student hedge fund are becoming a more prominent part of financial education. Their success has attracted the attention of

  4. Comment – Can hedge funds survive Bernanke?[more]

    From Bloomberg.com: …The biggest reason for the market tranquility might be the Federal Reserve's repeated assurances that it will maintain zero interest rates and provide monetary stimulus until the economy recovers, and unemployment ebbs. That may just account for the recent flurry of storie

  5. Is investing in art holding up?: Whilst there is a huge degree of instability worldwide, top works will sell well in 2009. Works that are not fresh to the market or works that have been heavily speculated on will see a 20% to 40% drop in prices. But really rare pieces will sell well.
Click here for More about Opalesque Tracking
- A new, unique Premium Service -
  1. Penrich
  2. MS
  3. MGH
  4. NZARA
  5. 36 South
  1. managed account
  2. man group
  3. Ucits
  4. asian hedge fund
  5. launch