This year saw the first batch of hedge funds authorised in Hong Kong for sale to the general public. In November the SFC issued new guidelines on reporting requirements for hedge fund managers, as well as a circular to registered dealers and investment advisers ("Registered Persons") regarding the marketing of such funds.
Reporting requirements
In September 2002 the SFC conducted a public consultation on proposed reporting requirements for managers of hedge funds authorised for sale to the Hong Kong public. Conclusions to the consultation, together with new guidelines for minimum disclosure standards, were released in November. The latter will be incorporated into the SFC Code on Unit Trusts and Mutual Funds.
