by Chi Chun Hung, Michael, Lo Kwai Sang, Dennis. / Thesis (M.B.A.)--Chinese University of Hong Kong, 1995. / Includes bibliographical references (leaves 101-103). / ABSTRACT --- p.iii / TABLE OF CONTENTS --- p.vi / LIST OF TABLE --- p.ix / PREFACE --- p.1 / Chapter CHAPTER I --- INTRODUCTION --- p.3 / Scope of Study and Topics for Discussion --- p.4 / Research Methodology --- p.5 / Chapter CHAPTER II --- SOME CONCEPTS ON COLLECTIVE INVESTMENT --- p.6 / Definitions of Collective Investment --- p.6 / Functions of Collective Investment --- p.6 / Professional management --- p.7 / Risk diversification --- p.7 / Liquidity and savings of transaction costs --- p.7 / Entry to Overseas Markets --- p.8 / Regulations and Disclosure --- p.8 / Record Keeping --- p.9 / Challenges to CIS --- p.9 / The Product --- p.10 / Chapter CHAPTER III --- THE COLLECTIVE INVESTMENT FUND MARKET IN HONG KONG --- p.13 / The Developments Of The Equity Market In Hong Kong --- p.13 / A Brief History Of The Hong Kong Stock Market --- p.13 / Capital Raising At The Stock Market --- p.15 / Regulatory Environment --- p.16 / Market Size & Growth Of CIS --- p.20 / Market Development --- p.20 / Boom and Bust in the Past Two Years --- p.21 / Market Prospects --- p.24 / Near Future --- p.24 / Competition --- p.25 / Distribution --- p.27 / Chapter CHAPTER IV --- THE STRUCTURE OF COLLECTIVE INVESTMENT SCHEMES --- p.28 / Mutual Fund Vs Unit Trust --- p.28 / Open-end Vs Closed-end Funds --- p.29 / Constituents of a CIS --- p.31 / Trustee/Custodian --- p.31 / Investment Advisor --- p.32 / Fiduciary Duty and Conflicts of Interest --- p.32 / Chapter CHAPTER V --- THE REGULATORY ENVIRONMENT IN HONG KONG --- p.34 / Authorization --- p.35 / The Fit and Proper Rule --- p.37 / Fund Manager --- p.37 / Trustee/Custodian --- p.38 / Information Disclosure --- p.39 / Constitutive Document --- p.39 / Offering document --- p.40 / Continuing Obligations --- p.41 / Promotion --- p.42 / Investment Restrictions --- p.42 / Conflicts of Interest --- p.43 / Tax --- p.44 / Recognized Jurisdictions --- p.45 / Specialized Funds --- p.45 / Private Offerings --- p.46 / Registration --- p.46 / Fees --- p.48 / Recent Deregulatory Changes --- p.48 / Chapter CHAPTER VI --- A COMPARISON WITH OTHER JURISDICTIONS --- p.50 / Protection of Investors --- p.50 / Restrictions on Funds Promotion --- p.51 / Regulations of Operators --- p.54 / Restrictions on Types of Investment --- p.56 / Investment Limits --- p.57 / Reporting and Supervision --- p.59 / Administration --- p.60 / Authorization of Overseas Funds --- p.61 / Chapter CHAPTER VII --- FUND ECONOMICS --- p.65 / Revenues For A Manager --- p.65 / Front end fee --- p.65 / Back End Fee --- p.66 / Management Fee --- p.67 / Performance Fee --- p.67 / Rebate From Brokers --- p.70 / Costs to Fund Investors --- p.73 / Transaction Costs --- p.74 / Trustee/Custodian Fees --- p.75 / An Illustration of the Costs to the Fund Investors --- p.76 / Break-Even Analysis For A New Fund House --- p.77 / Chapter CHAPTER VIII --- OPERATING ISSUES --- p.79 / Performance --- p.79 / Herd instincts --- p.79 / Operating Scale --- p.80 / Chapter CHAPTER IX --- CONCLUSIONS --- p.82 / TABLES --- p.84 / APPENDIX 1 AN EXAMPLE OF PRICE QUOTES --- p.93 / APPENDIX 2 RECOGNIZED JURISDICTION SCHEMES --- p.94 / APPENDIX 3 SCHEDULE OF FEES PAYABLE TO THE SFC --- p.95 / APPENDIX 4 AMENDMENTS TO THE CODE ON UNIT TRUSTS AND MUTUAL FUNDS --- p.96 / APPENDIX 5 QUOTATION OF CUSTODIAN BANK CHARGES (BANK A) --- p.98 / APPENDIX 6 QUOTATION OF CUSTODIAN BANK CHARGES (BANK B) --- p.100 / BIBLIOGRAPHY --- p.102
| Identifer | oai:union.ndltd.org:cuhk.edu.hk/oai:cuhk-dr:cuhk_318299 |
| Date | January 1995 |
| Contributors | Chi, Chun Hung Michael., Lo, Kwai Sang Dennis., Chinese University of Hong Kong Graduate School. Division of Business Administration. |
| Publisher | Chinese University of Hong Kong |
| Source Sets | The Chinese University of Hong Kong |
| Language | English |
| Detected Language | English |
| Type | Text, bibliography |
| Format | print, ix, 103 leaves ; 30 cm. |
| Coverage | China, Hong Kong |
| Rights | Use of this resource is governed by the terms and conditions of the Creative Commons “Attribution-NonCommercial-NoDerivatives 4.0 International” License (http://creativecommons.org/licenses/by-nc-nd/4.0/) |
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