Thu, Jun 30, 2016
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. Investing - Soros, Druckenmiller among hedgies profiting in market plunge, Hedge funds were most bullish on bonds since 2004 before Brexit, Surprise Brexit vote unleashes scramble for dollars, High-yield hit on Brexit but no panic selling, Scientist turned hedge fund founder lured to pound, euro, Hedge fund avoids commodities, posts big gains[more]

    Soros, Druckenmiller among hedgies profiting in market plunge From HITC.com: Bullish positions in gold and volatility and well-timed short bets on China and emerging markets, among other areas, were some of the trades that benefited hedge funds on Friday as markets digested Britons' s

  2. Manager Profile - A 26-year old hedge fund manager called Brexit — here's what he thinks about the historic vote[more]

    From Businessinsider.com: Taylor Mann is not your typical fund manager. The twenty-six year old Texas A&M graduate manages Pine Capital in Larue, Texas (population 160), where he resides with his three-year old daughter. Also atypical compared with many of the largest funds out there, Mann makes

  3. Europe - George Soros says Brexit has ‘unleashed’ a financial markets crisis, Brexit—what we know, Will the UK’s departure be a ‘soft-Brexit’ or a ‘hard-Brexit’?, Brexit: Six-point action plan for asset managers[more]

    George Soros says Brexit has ‘unleashed’ a financial markets crisis From Bloomberg.com: Britain’s decision to leave the European Union has “unleashed” a crisis in financial markets similar to the global financial crisis of 2007 and 2008, George Soros told the European Parliament in Bruss

  4. Hedge Fund Due Diligence Exchange offers complete due diligence reports at $1500[more]

    Matthias Knab, Opalesque: HFDDX is offering complete alternative investment due diligence reports at $1500 US. Industry professionals can simply go to www.hfddx.com and indicate their interest in sponsoring one or more DD Reports for $1500 each.

  5. Chesapeake Partners to liquidate hedge fund amidst 'hostile environment'[more]

    Komfie Manalo, Opalesque Asia: Chesapeake Partners Management, the hedge fund run by woman fund manager Traci Lerner said it would return investors’ money after 25 years because the market environment has become "hostile" to manage other people’s money, reported