Thu, Apr 27, 2017
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: Ex-Man manager combines sustainable investing with AI/ML[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: Dr. Richard Bateson, quant fund manager and physicist, has recently

  2. Alternative asset firm YieldStreet surpasses $100m of loans funded in less than 8 quarters[more]

    Komfie Manalo, Opalesque Asia: Alternative asset investment platform YieldStreet reported that it has surpassed $100m in loans funded in less than eight quarters from accredited investors and single family offices. YieldStreet was founded by Milind Mehere and Michael Weisz. In a

  3. Investing - Investor appetite for high-growth IPOs to be tested, Apollo boosts fund's stock allowance for 'diamonds in the rough', Hedge funds uncertain over outlook for Hargreaves Lansdown[more]

    Investor appetite for high-growth IPOs to be tested From FT.com: The US listings market is poised for a busy week with deals that will test investors' appetite for high-growth - but lossmaking - companies. Eight new listings are scheduled for this week, the most since October of 2016,

  4. Hedge funds holding Puerto Rico bonds are looking at a long battle[more]

    Komfie Manalo, Opalesque Asia: Hedge funds which bought Puerto Rico's distressed debt bonds are facing the prospect of a long road ahead to recover their investments as the Caribbean island is attempting to use a U.S. Congress-approved rule that allows it to exploit a bankruptcy-like proceedings

  5. Other Voices: "Winner-take-all" dynamics and hedge fund investing[more]

    A growing stream of thinking in microeconomics is the concept of "winner-take-all" dynamics. The idea seems simple. A combination of networking economics and classic economies of scale creates situations where there are just a few dominant firms or economic agents who are able to capture significant