Alwyn Li recently featured in Ignites Asia, a Financial Times publication, regarding the Hong Kong-China mutual fund recognition scheme.
The article mentions that 48 SFC-authorised funds were redomiciled to Hong Kong in order to get ready for the launch of the mutual fund recognition scheme.
Alwyn commented that redomiciling a Cayman fund that has already been authorised by the SFC would require SFC approval and consent from existing unit holders through an extraordinary general meeting; similar procedures would apply to the British Virgin Islands and Bermuda. The process would take at least three months, but the cost would “probably” be lower than setting up a new Hong Kong unit trust, he said.
Please click here to read the article.