Hong Kong accepts Ucits-3 funds

The Securities and Futures Commission has become the first regulator in Asia to accept certain products under pan-European jurisdiction.The Ucits code for investment trusts, launched in Europe in 2002 and revamped most recently in March last year (to ôUcits-3ö), allows funds domiciled in Dublin, Luxembourg and the United Kingdom and marketed across Europe to expand their investment resources, including the use of derivatives.The SFC has found that for many products, the Ucits-3 code i…