Do you know that there are over 2,000 funds authorised by the Securities and Futures Commission (SFC) in Hong Kong, covering different asset classes to provide investors with diversified fund investment options? With so many product choices, we really need to do our research before investing and choose funds that suit our needs. A one-stop repository containing information of all authorised funds will provide great convenience.
The Hong Kong Exchanges and Clearing Limited (HKEX) recently launched a fund repository that covers all authorised funds in Hong Kong under the Integrated Fund Platform (IFP). This repository helps the general public obtain relevant fund information more easily when making investment decisions.
Information in the fund repository can be categorized into following three types. A search function is also available for investors to navigate the fund information.
- Fund information: fund name, fund type, base currency, fund domicile, assets under management, effective date of authorisation etc.
- Major operators: names of management company and trustee/custodian
- Fund documents: offering documents, key facts statements, financial reports, announcements and notices
What is the Integrated Fund Platform (IFP)?
The Chief Executive announced the plan to develop a new integrated fund platform in the 2023 Policy Address to further promote the development of the fund industry in Hong Kong. Developed and operated by the HKEX, the IFP is a financial infrastructure targeting the retail fund market to facilitate fund distribution and reduce transaction costs in a bid to bring new business opportunities to fund management companies, distributors, and other market participants as well as to assist them in providing investors with a wider range of product choices. In addition to the newly launched fund repository, the IFP will also launch a business-to-business business platform and communications network and share further details on the platform’s development in due course.
Investors should note that the IFP does not provide fund subscription or redemption services to investors. If investors wish to buy or sell funds, they should do so through the distributors. In addition, there may be a potential time lag between the issuance of the fund information by the fund management companies and the publication of such information in the fund repository. Therefore, the information in the fund repository may not always be the most up-to-date. Investors should pay attention to the relevant dates of the information and contact the fund management companies or distributors for the latest information.
Investors should also note that the fund repository may not contain the most up-to-date information about all the authorised funds which are on the list of eligible collective investment schemes (“Eligible CIS”) under the new Capital Investment Entrant Scheme (“New CIES”). Investors should refer to the SFC website for the most up-to-date and comprehensive list of Eligible CIS under the New CIES and the relevant information.
13 December 2024
