Hong Kong Funds

The Hong Kong OFC (Open-ended Fund Company) is a separate legal entity with a board of directors, subject to fiduciary and statutory duties. It requires registration and approval from the SFC (Securities and Futures Commission) and operates under the SFO (Securities and Futures Ordinance), OFC Rules, and the OFC Code. The instrument of incorporation outlines important details such as the OFC’s name, investment objectives, and capital structure.

On the other hand, the Hong Kong LPF (Limited Partnership Fund) regime provides flexibility through contractual arrangements. LPFs are constituted by a partnership agreement, require a registered office in Hong Kong, and operate under the LPFO (Limited Partnership Fund Ordinance). LPFs offer contractual freedom with safe harbors for limited partners engaged in certain activities, preserving their limited liability status.

Choosing between OFC and LPF structures depends on various factors, including legal, regulatory, and personal considerations of founders, investment managers, and investors.

For more detailed information, you can refer to the following link: Hong Kong Funds