HKEX launches retail fund repository, strengthening Hong Kong’s appeal as wealth hub
The first phase of the integrated fund platform launched on Friday provides information on more than 2,000 retail funds
Bourse operator Hong Kong Exchanges and Clearing (HKEX) has launched the first phase of an electronic platform that provides data on all retail funds in the city, continuing its efforts to diversify its business and support the government’s bid to turn the city into an international wealth management hub.
The Integrated Fund Platform (IFP) allows investors to search and access financial information and other details of more than 2,000 retail funds authorised by the Securities and Futures Commission (SFC), including those from HSBC, BlackRock, Morgan Stanley, Allianz Global Investors and Fidelity.
HKEX proposed the integrated retail fund trading platform in November last year.
“Through the IFP, we are committed to easing the development of an efficient, diverse and vibrant fund distribution ecosystem, reinforcing Hong Kong’s role as a global wealth management centre,” Glenda So, co-head of markets at HKEX, said on Friday. “By providing easier access to fund information, the fund repository will help investors make informed investment decisions and enable market participants to serve their clients more effectively.”
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HKEX said in a statement that it would continue to develop the fund platform, which will include a business platform and a communications network to facilitate order routing and nominee services.
The aim is to make it easier for money managers and their sales partners to sell fund products to clients, attracting more companies into the market and creating more choice for investors, the statement added.
