Deacons’ Financial Services team advised BEA Union Investment (“BEA Union”) on the successful launch of the first public unlisted open-ended fund company (OFC) in Hong Kong. The fund launch follows the 2018 introduction of the OFC regime in Hong Kong, which provides an efficient platform for investment funds to be set up in company form.
The fund is the BU Fund Series OFC, an umbrella OFC with one initial sub-fund offering multiple classes of shares. We are proud to have assisted BEA Union in obtaining regulatory approval for this new fund, and expect to see more OFCs to be launched by other fund managers.
The team was led partners Alwyn Li and Ming Chiu Li, and associate Conrad Ho.