Macau has issued the city’s first fund investment licence under newly-enacted legislation to HOPU Investments, allowing the Beijing-based firm to set up an asset management unit in the Chinese gaming hub.
The move comes almost five months after Macau’s Investment Fund Law took effect on January 1. Before the new legislation, asset management business in the city were mainly operated through traditional institutions like banks.
HOPU, an alternative investment firm which manages over US$15 billion of assets, announced in a statement on May 12 that it has secured the first licence under the new law. According to the firm, the law “ brings significant changes to the market”.
The legislation introduces regulatory guidelines for private funds and two new structures – collective investment companies and limited partnership funds – aimed at broadening the scope of investment fund management firms.
“These changes align Macau with international regulatory standards, strengthen investor protections, and support the long-term, sustainable development of the region’s financial sector,” HOPU says.
According to Gunther Hamm, president of HOPU, the firm “will fully utilise its cross-border expertise” and “serve as a bridge between Asia and international markets to help strengthen connections between Macau and global partners”.
