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AIMA Hong Kong supports Financial Services Development Council initiative

Monday, November 18, 2013
Opalesque Industry Update - AIMA Hong Kong, the local branch of the Alternative Investment Management Association (AIMA), the global hedge fund industry association, has expressed its support for the Hong Kong Financial Services Development Council’s vision for Hong Kong as a pre-eminent international financial and asset management centre.

The six FSDC reports published today provide a framework of research and recommendations that address many of the challenges and opportunities that Hong Kong faces, amidst a highly competitive regional and global environment.

The development of a broader and deeper range of asset classes and product types will ensure that Hong Kong attracts new asset management flows and remains an attractive base for talent, all of which will increase the economic activities of the financial sector and its overall contribution to Hong Kong.

In particular, AIMA Hong Kong welcomes the development of an OEIC regime and advocates a competitive tax and regulatory framework as well as one that recognizes the importance of cost and process efficiencies in attracting asset managers to Hong Kong.

Philip Tye, Chairman of AIMA Hong Kong said, “The FSDC publications cover a broad range of initiatives which ensure that Hong Kong not only recognizes its strength as a global financial centre, but also builds on its position in the face of global and regional competition. Whilst Hong Kong is seen as a preeminent location for hedge funds in Asia, a holistic approach to taxation, regulation and environmental factors is important for the further development of the industry here in Hong Kong.”

Press release

bc

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