Sun, Aug 2, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
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

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Opalesque Exclusive: Despite bumpy June/July, CTAs hold on[more]

    Bailey McCann, Opalesque New York: To say that things have been rocky in managed futures recently is putting it mildly. In June, the industry saw its worst month on a performance basis in the past four years. Then yesterday,

  2. Investing - Hedge fund billionaires bet on London as revival gathers pace[more]

    From Bloomberg.com: London’s fund industry is bouncing back, and U.S. billionaires Steven A. Cohen and Ken Griffin are grabbing a piece of the action. Griffin’s Citadel and Millennium Management, a hedge fund run by Israel Englander, have bulked up in London, where asset growth is outpacing the U.S.

  3. Other Voices: Same day reporting and the evolving role of fund administrators[more]

    By: Scott Price, Head of Business Development and Client Management for North America, Maitland Ernst & Young’s latest glob

  4. Cowen Group, Inc. to acquire Conifer Securities[more]

    Cowen Group, Inc. and Conifer Securities, LLC had announced the signing of a definitive agreement under which Cowen will acquire Conifer Securities, the prime services division of Conifer Financial Services LLC. The transaction, the terms of which have not yet been disclosed, was approved by the boa

  5. Cargill’s Black River Asset to shut down four hedge funds[more]

    Komfie Manalo, Opalesque Asia: Cargill Inc.’s $7.4 billion Black River Asset Management said it was closing four hedge funds with a combined $ 1 billion in assets and start returning investors money over the next several months, various media said. The hedge funds represent 15% of Black River’

 

banner