Deacons Advises BEA Union On SFC-Authorized Open-Ended Fund Company In Hong Kong.
Legal News & Analysis - Asia Pacific - Hong Kong - Fund Investment - Regulatory & Compliance
29 May, 2020
Deacons’ partners, Alwyn Li and Ming Chiu Li, and associate Conrad Ho, advised BEA Union Investment Management Limited (“BEA Union”) on the successful launch of a publicly offered open-ended fund company (OFC) in Hong Kong.
The fund launch follows the recent introduction by the Hong Kong regulator of a regime to allow investment funds to be set up in company form.
The fund is the BU Fund Series OFC, an umbrella OFC with one initial sub-fund offering multiple classes of shares. The fund is the first unlisted public OFC launched under the OFC regime.
We are proud to have assisted BEA Union in obtaining regulatory approval for this new fund, and expect to see more OFCs to be launched by other fund managers.