New guidelines might prohibit some hedge funds

Guidelines for the authorisation of hedge funds in Hong Kong, published by the Securities and Futures Commission (SFC), could encourage retail offerings among funds of funds while barring individual hedge funds from that area of the market.The guidelines set high entry requirements for managers which relatively few single manager, single strategy funds will meet, but which many large established funds of funds managers will. At the same time the SFC has placed few restrictions on fund of fun