Thu, Oct 2, 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

Banner

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. Legal - Court throws out lawsuits related to Fannie Mae, Freddie Mac profits, Insider case by SEC is a step removed from Herbalife itself, SEC grants Citigroup waivers, easing hedge-fund curbs[more]

    Court throws out lawsuits related to Fannie Mae, Freddie Mac profits From WSJ.com: A group of Wall Street investors on Tuesday suffered a blow in their attempts to sue the federal government over their treatment of the shareholders of mortgage finance giants Fannie Mae and Freddie Mac af

  2. Launches - Goldman Sachs Asset Management launches GS Long Short Fund, Western & Southern launching international hedge fund, Lansdowne Partners plans energy hedge fund, RBC Global Asset Management launches new RBC Funds (Lux) - Asia Ex-Japan Fund, PVE Capital latest credit strategy to launch on the Sciens managed account platform[more]

    Goldman Sachs Asset Management launches GS Long Short Fund From Marketwatch.com: Goldman Sachs Asset Management has announced the launch of the Goldman Sachs Long Short Fund, which pursues high conviction investment ideas in global equity markets through a fundamental, bottom-up approach

  3. M&A - Goldman fund takes stake in Caxton, Neuberger Berman acquires Orchard Square hedge fund, Top banks, hedge funds buy Perzo messaging platform for $66m[more]

    Goldman fund takes stake in Caxton From FT.com: Caxton Associates, one of the best known macro hedge fund managers, has sold a 9.9 per cent stake in itself to a fund managed by Goldman Sachs, according to a letter sent to its investors. The investment in Caxton, which manages close to $8

  4. Unconstrained bond funds: Where hedge fund strategies meet mutual funds[more]

    From CNBC.com: For all the talk and buzz around indexes, or passive investing, the next big thing for bond mutual fund investors may be strategies that are the exact opposite. The rapid growth of "unconstrained bond funds" has been thrust into investor spotlight given last Friday's stunning news tha

  5. Service Providers - Aequitas Capital launches exclusive provider network for independent RIAs[more]

    From Insurancenewsnet.com: Aequitas Capital, a diversified financial services company, has launched the Aequitas Financial Services Network (AFSN), a singular member network of select product and service providers who offer diverse yet complementary capabilities designed to empower Registered Invest