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On 1 March 2017, the Asset Management Association of China( "AMAC") circulated the Administrative Measures on the Private Investment Fund Service Business...
On 1 March 2017, the Asset Management Association of China (
"AMAC") circulated the Administrative
Measures on the Private Investment Fund Service Business (the
"Measures"), effective immediately.
The Measures apply to five types of services that could be
provided by a servicing institution entrusted by a private fund
manager, for a private fund or a private asset management plan
issued by a securities or futures operation institution,
i.e. fundraising, investment advisory, interest
registration, valuation calculation and information technology
system services. These services in essence cover the business of
fund placement agents, administrators and investment advisors.
These service providers are now required to register with AMAC and
become members of AMAC. The servicing institutions are required to
manage fund and investor assets separately. The Measures, along
with the other major self-discipline regulatory rules for private
funds issued by AMAC, become part of the framework of
self-discipline regulatory rules for the private fund industry in
mainland China.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
