The Hong Kong Securities and Futures Commission (SFC) has announced the implementation of the new open-ended fund companies (OFC) regime with effect from 30 July 2018. This will enable investment funds to be established in corporate form in Hong Kong, in addition to the current unit trust form.
The Code on Open-ended Fund Companies and relevant forms for the implementation of the OFC regime, both gazetted today, will take effect on 30 July 2018. Following the completion of the legislative process, the legislation for OFCs will come into effect on the same day.
The SFC will publish frequently asked questions to provide further guidance to the industry.