Hong Kong to relax conditions on hedge funds

The Securities and Futures Commission wants Hong Kong to be the regionÆs premier centre for asset management.

Andrew Procter, executive director at SFC, says the regulator will organize a committee to review the sweep of Hong Kongs asset management industry, the most radical feature of which is to authorize the selling of hedge funds to a mass audience. At present, such instruments are only sold privately to high-net worth or institutional clients -- behind closed doors and beyond regulatory sight.

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