Deacons’ Financial Services Advises Stormharbour On The Launch Of The First Umbrella Private Open-ended Fund Company In Hong Kong.
Legal News & Analysis - Asia Pacific - Hong Kong - Banking & Finance - Investment Funds
18 August 2020
Deacons advises StormHarbour Securities (Hong Kong) Limited (StormHarbour) on the establishment and registration of the first umbrella private open-ended fund company (OFC) in Hong Kong, the StormHarbour Fund Services OFC.
The establishment of the fund follows the 2018 introduction by the Hong Kong regulator of a regime to allow investment funds to be set up in company form in Hong Kong, boosting the city’s status as an international asset and fund management centre, as well as a fund domicile hub.
The newly registered funds include the Storm Harbour Family Office Allocator - ETF Strategy Fund, and the StormHarbour Family Office Allocator - Core Bond Strategy Fund, both of which are the sub-funds of the StormHarbour Fund Services OFC.
We are delighted to have assisted StormHarbour with the successful registration of this new fund and expect to see more fund managers establish private OFCs in Hong Kong, providing investors with alternative investment options.
Our team was led by Financial Services Practice Group partner, Fiona Fong, and associate, Sarah Lau