Hong Kong - Stephenson Harwood Advises Grand Capital Securities Limited On Inaugural OFC.

Legal News & Analysis - Asia Pacific - Hong Kong - Investment Funds

25 September, 2020


Law firm Stephenson Harwood LLP has advised Grand Capital Securities Limited (Grand Capital) on the establishment of its first private open-ended fund company (OFC), GC OFC, and the OFC’s two initial sub-funds. 


Grand Capital is a Hong Kong company licensed by the Hong Kong Securities Future Commission (SFC) to conduct type 1 (dealing in securities), the type 4 (advising on securities) and type 9 (asset management). The OFC, which is a variable capital structure, will gives Grand Capital’s investors more flexibility to enter and exit the fund than they would have if it were a fixed capital regimes.


“It was a pleasure to work with the SFC to help Grand Capital register its inaugural OFC,” said Penelope Shen, partner, Stephenson Harwood. “This deal marks the establishment of the fourth private OFC in Hong Kong, and we look forward to working further with Hong Kong’s fund industry to promote the city as a global fund domicile and asset management hub.”


The Stephenson Harwood team was led by partner Penelope Shen, who was supported by associate Jet Tang.