Qualified hong kong fund
About 100.
The mutual recognition of funds carried out by the China Securities Regulatory Commission and the Hong Kong Securities Regulatory Commission will allow mainland and Hong Kong funds that meet certain conditions to be recognized in the other market or sold to public investors according to legal procedures. According to the preliminary calculation of CSRC, by the end of 20 14, there will be about 100 Hong Kong funds meeting the mutual recognition standard. By the end of the first quarter of this year, there were about 850 mainland funds that met the criteria of mutual recognition.
According to the Interim Provisions on the Administration of Mutual Recognition Funds in Hong Kong, the conditions for Hong Kong funds to enter the Mainland include: they have not been severely punished by the Hong Kong Securities Regulatory Commission in the last three years or since their establishment; Adopt the trusteeship system; The types of funds are conventional stock type, mixed type, bond type and index type; The fund has been established for more than 1 year, with assets of not less than 200 million yuan, and does not take the mainland market as the main investment direction. The scale of mainland sales accounts for no more than 50% of the total assets of the fund. Mainland funds entering Hong Kong also need to meet the conditions of reciprocity.
The Regulations require that the managers of mutual recognition funds in Hong Kong should entrust qualified institutions in the Mainland as agents to handle product registration and other matters, and the agents should be fund managers or custodians publicly issued in the Mainland.
The process of applying for Hong Kong funds is the same as that of mainland funds.
After the Hong Kong Mutual Recognition Fund is registered by the China Securities Regulatory Commission, it can be entrusted to a mainland fund sales agency for public sale, and mainland fund investors can apply for Hong Kong Mutual Recognition Fund products in relevant fund sales agencies. The specific business process is the same as that of mainland fund products.
Gordon, spokesman of the China Securities Regulatory Commission, said that under the background of the rapid development of global capital market, cross-border investment management and cross-border fund sales activities are increasingly active, and the cooperation between the mainland and Hong Kong in financial products and services is deepening. It is necessary to establish a platform for mutual recognition of fund products between the Mainland and Hong Kong to promote the common development of the fund markets of the two places. Moreover, Shanghai-Hong Kong Stock Connect has maintained a stable operation, which has played a good demonstration role in the introduction of mutual recognition of funds.
He said that mutual recognition of funds between the Mainland and Hong Kong will not only provide domestic investors with richer investment products, more investment channels and more diversified investment management services, but also help domestic fund management institutions learn from international advanced investment management experience; On the other hand, the overseas sale of domestic funds is conducive to attracting overseas funds to invest in the domestic capital market, providing more convenient investment channels for various overseas investors, and also conducive to cultivating internationally competitive mainland asset management institutions. According to Xinhua News Agency