Mon, Jul 28, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Changes ahead for REITs, dark pools, open-ended fund structures in Hong Kong

Friday, February 28, 2014

Bailey McCann, Opalesque New York:

Hong Kong's financial regulator the SFC is nearing the end of it's one-month consultation period on proposals to amend the Code on Real Estate Investment Trusts (REIT Code) to introduce more flexibility in the investment scope of real estate investment trusts. The SFC is proposing to allow REITS to invest in property development and related activities insofar as it only accounts for 10% of a REIT's gross asset value.

In addition, the regulator is proposing allowances that will let REITS purchase vacant land, again up to 10% GAV as long as it is part of a property development project. The properties completed under such property development projects will be subject to a minimum two-year property holding period requirement.

"These proposals have taken into account both the protection of investors’ interests and the long-term development of the Hong Kong REIT market which is key to Hong Kong’s continued development as an international premier asset management centre," said Mr. Ashley Alder, the SFC’s Chief Executive Officer.

The consultation period concerning REITS was the first in a spate of changes and proposals being considered by the regulator. Another seeks to codify rules around dark pools, on these rules the regulator is proposing to enhance and standardize the regulatory obligations imposed on Hong Kong licensed corporations that operate dark pools, by including within the Code of Conduct comprehensive requi......................

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. Events – AIMA Australian Hedge Fund Forum, Sept. 16, Sydney[more]

    AIMA Australia invite you to join us at our annual Hedge Fund Forum on Tuesday 16th September 2014 at the Sofitel Sydney Wentworth. The AIMA Australian Hedge Fund Forum is a non-profit hedge fund conference organised by the industry for the industry, featuring quality Australian and internation

  2. Opalesque Roundtable: Success in hedge fund marketing not linked to performance, but investor appetite[more]

    Komfie Manalo, Opalesque Asia: Success in marketing a fund is not linked to the performance, but to investor appetite, to the way you can market the fund, and to how much time you can spend to raise assets, said Antoine Rolland, the CEO of incubator and seeding firm

  3. Hedge fund manager Winton Capital making headway with long-only strategy[more]

    From PIonline.com: North American investors are helping Winton Capital Management Ltd. make progress — albeit slowly — toward its founder's goal of becoming a $100 billion company. The firm's ticket to quadrupling its assets under management is unlikely to be one of its scientifically designed manag

  4. Opalesque Radio: Now is a good time to buy protection cheaply in the options market[more]

    Benedicte Gravrand, Opalesque Geneva: Investors are showing an increased interest in risk parity funds and strategies, Opalesque reported last year. Risk parity strategies have the

  5. Winton’s low-cost equities fund tops $1bn for first time[more]

    From FT.com: Winton, the London-based hedge fund, has increased the assets in its low-cost equities fund to more than $1bn for the first time in a sign that traditional stock managers may come under increasing pressure from computer-driven rivals. Winton, which manages about $25bn in total ass