On 15 January 2019, the CSSF announced that the Securities
and Futures Commission (SFC) and the CSSF entered into a Memorandum
of Understanding (MoU) on Mutual Recognition of Funds (MRF), which
will allow eligible Hong Kong (HK) public funds and Luxembourg
UCITS funds to be distributed in each other's market through a
streamlined process. The SFC and the CSSF may consider extending
the MRF to include other types of funds in future in accordance
with the MoU.
HK Covered Funds (i.e. Hong Kong-domiciled funds that are
eligible for CSSF authorisation or have received CSSF authorisation
under the MRF) must be established, domiciled and managed by a HK
Covered Management Company in accordance with HK laws and
regulations and its constitutive documents and authorised by the
SFC under section 104 of the SFO for public offering in HK to be
eligible. It covers the following types of funds (i) a general
equity fund, bond fund or mixed fund or (ii) a feeder fund where
the
