HKEX to launch retail fund platform as Hong Kong seeks to burnish status as wealth management hub
- The platform aims to make it easier for fund companies and their sales partners to sell fund products to clients, expanding the market, exchange says
- Money managers and brokers welcome the platform, which they believe will diversify investment products available in Hong Kong
The electronic network will cover the full distribution cycle of retail funds authorised by the Securities and Futures Commission (SFC), the exchange said in a statement on Thursday. HKEX will work with the government and regulators to develop the model in coming months.
The aim is to make it easier for money managers and their sales partners to sell fund products to clients, attracting more companies into the market and creating more choice for investors, the exchange said.
“The new integrated fund platform, which is expected to generate new business opportunities for the industry and to increase participation and diversification in Hong Kong’s retail fund market, will reinforce Hong Kong’s position as a leading international asset and wealth management centre,” said Christina Choi, executive director of investment products at the SFC.
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“Equally important, the platform, which will facilitate fund distribution and public access to information on fund investment options, will enrich product choice and enhance product transparency for investors.”