News & Insights

Phased launch of Hong Kong’s fund distribution network announced

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Authored by: Joyce Li

On 21 October 2024, the Securities and Futures Commission (SFC) issued a circular to management companies of SFC-authorised unit trusts and mutual funds regarding information disclosure on information portal of integrated fund platform (IFP).

The IFP, which aims to provide a new platform to cover the full distribution cycle and value chain for retail funds in Hong Kong, was announced in the Chief Executives 2023 Policy Address to further support Hong Kong’s continued role as a regional and global wealth management centre (see our earlier article on 30 January 2024). We set out below highlights of the IFP.

The Hong Kong Exchanges and Clearing Limited (HKEX) is expected to launch the IFP in phases, beginning from the end-2024 with the launch of a public-facing information portal for SFC-authorised funds (funds). The information portal will serve as a one-stop access to fund information that is required to be made available to investors. The information portal is expected to include relevant public information on funds, including:

  • Names of the management company and trustee/custodian;
  • Fund offering documents, financial reports and notices;
  • Fund type classification (in line with classification on the SFC’s website);
  • other information, such as base currency, fund domicile, dealing frequency, fund size (as reported to the SFC from time to time), and date of authorisation.

Filings made to the SFC will be made available to the HKEX by the SFC and published on IFP’s information portal and there is no need for management companies to separately file information to the IFP’s information portal. Updates to published information are expected to correspond with updates being filed with the SFC. Where a notice is not issued to all investors in a fund, the management company should contact the relevant SFC case team in advance if it does not wish to include such notice for general disclosure.

Management companies are reminded to file all investors notices with the SFC, including notices which do not involve any changes to the scheme (such as distribution notices and other administrative updates) and do not require filing of a corresponding SFC filing form. Management companies managing SFC authorised funds should take this opportunity to review its internal policy and procedures to ensure that all investors notices will continue to be filed with the SFC on a timely manner.

Further technical details on the IFP’s operations will be released by the HKEX.

Key Contacts

Joyce Li

Partner | Financial Services

Email or call +852 2825 9318

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