Hong Kong has boosted its competitiveness as a private equity fund centre by confirming, this week, that it would review its tax treatment of carried interest as income.
Mifid 2 will force brokers to detail how commission payments are being spent. Asian asset owners may demand the same level of disclosure, says Leonard Ng of Sidley Austin.
London remains well set as a European base for Asian fund houses, but it's not so clear-cut now for non-EU wealth managers, says Leonard Ng, partner at law firm Sidley Austin.
The number of Chinese fund firms seeking licences in Hong Kong is growing fast, even as the city’s investment sector faces a tough year, says one industry expert.
Operational issues and uncertainties over marketing and disclosure on both sides of the border underline why this is no get-rich-quick scheme, says lawyer Effie Vasilopoulos.
Neuberger Berman hires Asia PE chief; Navis boosts HK team; Jih Sun recruits new GM; Acion takes on portfolio managers; Sidley Austin makes PE hire; and HK SFC names new non-executive director.