JARDINE Fleming is still reviewing the effect of the Securities and Futures Commission (SFC) ruling that will phase out rebates on discretionary accounts, but has declined to say whether it plans to raise management rates for unit trusts.
The unit trust management company, which has the biggest share of Hong Kong's retail fund market, strongly opposed the SFC decision but has not yet formulated its response.
The ban on rebates comes into effect on July 1.
Jardine Fleming communications manager Penelope Hill said earlier reports that the company was planning to introduce higher management rates and soft dollar fees for its unit trusts were taken out of context.
'The company is still examining the situation,' Ms Hill said.
'There is a lot of information to take on board, but nothing has been finalised.' Ms Hill said Jardine Fleming did not view the SFC's approach as positive for Hong Kong.
'It will take us some time to review the situation,' she said.
