The Securities and Futures Commission of Hong Kong has approved three hedge funds for the retail market, two single strategy funds and one fund of funds. JF Asset Management has received approval for its JF Asia Absolute Return Fund and the JF Greater China Absolute Fund. A fund of hedge funds from HSBC is the third product to receive approval. The HSBC Republic Alternative Investment Portfolio is the name of the product and the sub-fund is the HSBC Republic Global Strategy Hedge Fund.
Commenting on the approvals, Paul Smith, head of global fund services worldwide of Bank of Bermuda, says, We are delighted that the SFC has set the framework for the alternative investment sector....
