Investor Presentaiton
2. OFC structure
SFC
證監會
Shareholders
OFC Board
Individual directors
not required to be
licensed by the SFC
but they owe
statutory and
fiduciary duties to
shareholders
Custodian
Safekeeping
of assets
OFC
A collective
investment scheme
structured as a
company with
variable capital
Assets
I
Mandatory delegation
of investment
management functions
•
Investment
Manager
licensed /
registered
for Type 9
regulated
activity
A new corporate
structure (in addition to
unit trust form) for
investment funds in
Hong Kong under the
SFO
Not subject to
restrictions under
Companies Ordinance
("CO") on (1) capital
reduction; (2)
distribution out of
capital
Can be used for both
listed (e.g. ETFs) or
unlisted funds
Can be used for both
public and private
funds
Can be used for
closed-ended funds
(i.e. can impose
redemption terms and
conditions subject to
clear disclosure)
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