HK launched the Shenzhen connect today and the SFC signed an agreement for an MRF link with Switzerland, as the SAR aims for more than just being a distribution hub, according to Jeremy Lam, a Hong Kong-based partner and the head of Deacon’s financial services practice.
Tag: Hong Kong
HK’s bond fund sales outpace equities
Hong Kong’s fund industry recorded net sales of $3.6bn in the first nine months of 2016, up 36% from the same period last year, driven by strong inflows into bond funds, which were up 174%.
Another step toward HK-China bond connect
Hong Kong’s Financial Services Development Council has developed a proposal for the Hong Kong-China Bond Connect, which aims to allow retail investors cross-border access to bonds.
HK fee transparency plan could hit alts
The proposal to enhance fee disclosures should not have a big impact on banks and fund houses, but may impact the small intermediaries, according to industry players.
HK and Singapore in push for fee transparency
Following Singapore, Hong Kong’s Securities and Futures Commission has proposed that fund distributors cannot call themselves independent if they are receiving commission from distributing funds, and they need to state the fee amount at the point of sale.
SFC fines ex-fund house employee
For failing to declare commission and an improper know-your-customer process, the Securities and Futures Commission has banned Benedict Ku Ka-tat for one year and fined him HK$150,000 ($19,340).
The fall of synthetic ETFs in HK
The 2% yearly collateral charges and strict regulations in the SAR are causing issuers to close down synthetic ETFs and discouraging them from launching new synthetic products.
CSRC acts on illegal Stock Connect trades
The China Securities Regulatory Commission has made its first crackdown on an illegal transaction via the Shanghai-Hong Kong Stock Connect.
Capital Group, EIP and iShares roll out funds in HK
During the week, Capital Group brought nine funds to retail investors in the SAR and EIP listed its gold miners ETF, while iShares prepares to launch an ETF tracking the Hang Seng Index next week.
Hong Kong holds China fintech advantage
Hong Kong has better access to capital than Singapore and it will reap benefits from China’s fintech rollout, said Mathias Helleu, chairman and co-founder of Hong Kong-based 8 Securities.
