Title: 043092Li Wai Lun, Allen
1Investment Industry
- 043092 Li Wai Lun, Allen
- 043096 Chan Ka Hang, Keita
- 043140 Chan Wai Lun, Alan
- 043143 Lo Ka Wing, Julian
- 043174 Lau King Wah, Tyrone
2Agenda
- Introduction Investment Industry
- Products, Regulations, Fund Industry
- Franklin Templeton
- Case study
- Conclusion
3Investment Industry
- Products
- Close-end products
- Open-end products
- Index products
- Illiquid assets
- Liquid assets
- Offshore products
4Regulations
- Security Futures Commission (SFC)
- Hong Kong Investment Fund Association (HKIFA)
- Professional Insurance Broker Association (PIBA)
5Legislation and Regulation from SFC
6Code of ethics from HKIFA
7Internal control measures
Internal control measures Proportion of respondents having the internal control measure
Requirement to disclose possible conflicts of interest 100
Procedure for analysts being brought over the Chinese Wall 97
Segregation of duties 93
Restrictions on personal trading by analysts 93
Blackout periods for trading by analysts 80
others 37
Source SFC, Securities Firm Survey on Investment
Research Activities Hong Kong November 2003
8Target of medium to large size firm
Source SFC, Securities Firm Survey on Investment
Research Activities Hong Kong November 2003
9Target in smaller firms
Source SFC, Securities Firm Survey on Investment
Research Activities Hong Kong November 2003
10Fund Industry
- History
- 1822 Holland King of William I
- 1868 England, London, Investment trust on
securities company - 1924 Massachusetts company, Investment Trust Fund
- 1940 US legislated Company Law
Resource
11Characteristics of Fund
- Small resources pooled together can accomplish
big things - Risk diversification
- Expertised management
- High liquidity
Resource
12Comparison of different investments