Hong Kong regulator reclassifies certain funds with exposure to private markets

Hong Kong’s market regulator has reclassified some of the city’s authorised funds with exposure to private market assets above a certain amount as complex products, raising the threshold for selling these products to retail investors.
Funds with exposures to direct or indirect private market assets amounting to 50 per cent or more of their net asset value would be recategorised.
The Securities and Futures Commission (SFC) said that it observed some funds gaining indirect exposure to private...