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Article: Hong Kong pries open an elite clubRetail hedge funds approved Fund Report
- Article from:
- International Herald Tribune
- Article date:
- November 30, 2002
- Author:
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The Hong Kong Securities and Futures Commission announced Thursday
the authorization of the first batch of hedge funds for sale to retail
investors. The announcement follows a monthlong public consultation,
which ended in early October, on how hedge funds should be regulated
and sold to the public.A spokeswoman for HSBC Asset Management confirmed
that its fund-of-hedge-fund product essentially a mutual fund that
buys shares in many hedge funds had been authorized and would be
introduced in the first quarter of 2003. Two single-strategy hedge
funds also have been approved from JF Asset Management, a spokesman
confirmed. He declined to give further ...