Filing Form for Notice of Scheme Change(s) falling within 11.1B of the Code on Unit Trusts and Mutual Funds (UT Code) and Do Not Require SFC’s Prior Approval

The Securities and Futures Commission of Hong Kong, SFC, has published a revised form in connection with modifications to a collective investment scheme (CIS).
Specifically, the new form must be submitted to the SFC, if changes occur that are minor in nature and do not require the SFC’s prior approval in accordance with the Point 11.1B of the Code on Unit Trusts and Mutual Funds, including changes that are NOT any of the following:
– changes to constitutive documents;
– changes of the trustee/custodian, management company, investment delegates and Hong Kong Representative, and their regulatory status;
– changes in the investment strategy of a fund.
It shall be noted in this context, that If a public offer collective investment scheme (OFC) registered under the Code on Open-ended Fund Companies (UT Code) is making a filing for a change that falls under section 11.1B of the UT Code, which includes a change of director, a change of name of the OFC, or a change of name of a publicly offered sub-fund, it should use the „Information Checklist for (i) a Change of Director of a Public Open-ended Fund Company; or (ii) a Change of Name of a Public Open-ended Fund Company or a Publicly Offered Sub-fund of an Open-ended Fund Company“ instead of this filing form.
The form necessitates information on, among others,
– the fund involved (umbrella fund or sub-fund); and
– the type of change under Point 11.1B.
The revised for includes a new checkbox to indicate a change in a fund’s strategy as to the use of derivatives.