Hong Kong regulator soothes hedge fund rules

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Wednesday May 11, 10:18

Hong Kong regulator soothes hedge fund rules

(by Roy Deng)

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Hong Kong regulator soothes hedge fund rules

Hong Kong securities regulator will take steps to encourage soothing hedge fund rules to improve situation in Hong Kong’s listed-hedge-fund industry.

Hong Kong’s Securities and Futures Commission is considering measures to relax the licensing requirements for hedge-fund management. Under the new rules suggested by the SFC, managers could count experience managing proprietary funds to prove five years of experience of managing money. Currently, managers have to prove they have five years of experience managing money that "follow hedge fund strategies," and preferably for third parties, as at a mutual fund.

The SFC will open a consultation period on retail-hedge-fund rules as soon as this month, according to a person familiar with the matter.

Hong Kong became the first jurisdiction over the globe that allows hedge funds to be sold to retail, or individual, investors. It has 13 listed retail hedge funds.

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