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Article: Hong Kong opens hedge funds.
- Article from:
- Australasian Business Intelligence
- Article date:
- November 27, 2002
CopyrightCOPYRIGHT 2002 News provided by Comtex. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Nov 26, 2002 (The Asian Wall Street Journal - ABIX via COMTEX)
Details of Hong Kong's first retail hedge funds are expected to be announced in the week ending 29 November 2002. The Securities and Futures Commission announced in May 2002 that it would permit retail hedge funds to be set up. At that time, it stated that retail hedge-fund managers would have to have at least $US100 million in funds under management. The Commission set $US50,000 as the minimum investment for a single-strategy hedge fund and $US10,000 for a funds-of-hedge fund. Alexa Lam, the Commission's executive director, said it would advise how many retail hedge funds it had approved, but would ...