Hong Kong has a well-established asset management and funds industry that has been successful under an open architecture framework. This spans from being accepting of fund managers’ overseas qualifications and experiences of different markets to set up in Hong Kong, to being domicile-neutral on the funds that may be offered in Hong Kong on a private placement basis or which may be approved for retail public offer. It is this backdrop that has developed Hong Kong into a financial centre where many asset management firms are set up by international groups and in recent years Mainland China fund houses.

Recently the status quo has been shaken up amidst efforts to maintain and enhance Hong Kong’s competitiveness as an international centre for funds, and also as it seeks to further capitalise and stay relevant as the gateway for Mainland China of the People’s Republic. There are also developments in the context and environment of international regulatory and fiscal cooperation. In this article written as a synopsis, we focus on the key attributes and changes that are interesting for asset managers to consider Hong Kong under their global strategy.

This article first appeared in the Corporate Livewire “Expert Guide – Investment Funds 2019” (with necessary updates since publication). Vivien Teu & Co LLP is pleased to have been invited by Corporate Livewire to contribute the Hong Kong chapter. Access the full guide at Corporate Livewire (registration required): http://www.corporatelivewire.com/guide.html?id=investment-funds-2019