Tue, Mar 19, 2024
A A A
Welcome Guest
Free Trial RSS pod
Get FREE trial access to our award winning publications
Alternative Market Briefing

Other Voices: Hong Kong and its National Security law: the view of a Hong Kong based fund manager

Tuesday, June 02, 2020

By: Fabrice Jacob, CEO JK Capital Management Ltd., a La Française group-member company.

The recent events in Hong Kong are making headlines and have become a political tool in the hands of the Trump administration. Trying to stay as rational as possible, we wanted to share our views as a fund manager on the ground.

Let's start with the background. The National People's Congress (NPC), the legislative body of China, is about to promulgate a National Security law to become part of the Basic Law, the mini-constitution of Hong Kong. The National Security law's purpose is to criminalise acts of sedition, secession, treason and terrorism, which is something that most sovereign countries have in their own constitution. For instance, in the U.S., treason is covered by Article III, Section 3 of the U.S. Constitution, and sedition by Title 18 of the U.S. Code of Laws. The reality in Hong Kong, however, is that when Chinese and British negotiators drafted the Basic Law, it was agreed and written black on white in Article 23 that the Hong Kong government would have to pass such a law after the handover of Hong Kong in 1997. A first attempt in 2003 to do so failed following large scale protests, and the matter was postponed sine die. In other words, twenty-three years after the handover, the city still does not have any law in place to arrest and put on trial anyone accused of such acts.

In mid-2019, the Hong Kong government took the initiative to draft a controversial ......................

To view our full article Click here

Previous Opalesque Exclusives                                  
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. KKR raises $6.4bn for the largest pan-Asia infrastructure fund[more]

    Laxman Pai, Opalesque Asia: The New York-based global investment firm KKR has raised a record $6.4bn for its second Asia-focused infrastructure fund, underlining investors' continued appetite for private markets. According to a media release from the alternative assets manager, the figure top

  2. Bucking the trend, top hedge fund makes plans for a second SPAC[more]

    From Institutional Investor: SPACs aren't dead. At least not to the folks at Cormorant Asset Management. The life sciences firm, whose hedge fund topped its peers in 2023, is confident it will match the success of its first blank-check company. Last week, the life sciences and biopharma speciali

  3. Benefit Street Partners closes fifth fund on $4.7 billion[more]

    Bailey McCann, Opalesque New York: Benefit Street Partners has closed its fifth flagship direct lending vehicle, BSP Debt Fund V, with $4.7 billion of investable capital across the strategy. Benefit Street invests primarily in privately originated, floating rate, senior secured loans. The fun

  4. 4 hedge fund themes that are working in 2024[more]

    From The Street: A poor earnings report from Tesla (TSLA) has not hurt the indexes on Thursday. The decline in Tesla stock, which is losing its position in the Magnificent Seven pantheon, is more than offset by strong earnings from IBM (IBM) and ServiceNow (NOW) . In addition, the much higher-t

  5. Opalesque Exclusive: A global macro fund eyes opportunities in bonds[more]

    Bailey McCann, Opalesque New York for New Managers: Munich-based ThirdYear Capital rebounded in 2023, following a tough year for global macro. The firm's flagship ART Global Macro strategy finished the year up 1