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Alternative Market Briefing

China’s rule amendments to allow hedge fund registration

Tuesday, March 12, 2013

From Komfie Manalo, Opalesque Asia – China is set to formally recognize hedge funds with the full implementation of amendments to its Securities Investment Funds Law that allows registration of hedge fund firms in the mainland. The changes in Beijing’s investment funds will pave way for the formal establishment of a hedge fund industry in China.

A report by Risk.net said the changes in the investment funds law will take effect on June 1 this year; it will allow hedge funds to raise funds legally in China. This will be the first time that hedge funds can solicit capital in China.

The amendments were ratified by China's National People's Congress on December 28, 2012 after the previous version of 2003 law defines "securities" as stocks, bonds and shares in regulated mutual funds, but did not specify hedge funds or private funds.

Under the registration regime for hedge funds and other private funds that invest in publicly offered securities, private fund managers with at least $16.08m (100m yuan) or those with more than 50 investors, are required to register with the Asset Management Association of China, a self-regulatory organization sponsored by the China Securities Regulatory Commission.

China has been showing signs of opening towards hedge funds of late. In late August 2012, China Securities Journal reported that the Shanghai......................

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