Regulators hope to have an investor resource centre in place by the end of the year, aimed at improving the sophistication of retail investors. Securities and Futures Commission executive director David White said it was expected the centre could open in the last quarter of this year or early next year. It will be jointly run by the Stock Exchange of Hong Kong, the Hong Kong Futures Exchange and the SFC. The facility, which will cost between $5 million and $10 million a year to run, is likely to be in The Center in Jubilee Street, Central. It is understood the Government has accepted the project as a government-information centre, meaning the regulators will pay only a nominal rent. The centre is likely to hold the exchange's library, including company annual reports and other corporate information. The investor resource centre had received strong support from outgoing SFC chairman Anthony Neoh. Most developed markets offer similar resource centres for investors. Regulators are keen to improve the sophistication of Hong Kong investors to avoid a repeat of last year's spectacular, retail-led boom-and-bust cycle. Hopes of short-term profits saw a swathe of inexperienced investors enter the stock market for the first time, with interest focusing on red-chip stocks.