- Hong Kong
No, in addition to onshore and offshore fund structure Privium operates managed accounts and other bespoke structures.
Yes, Privium is set up with different execution and prime brokers. Depending on the investment strategy we set-up electronic connectivity.
To become an FCA authorised Appointed Representative is a two-part process, the Appointed Representative (“AR”) application (company) and the associated Approved Persons (“AP”) applications (individual).
In receipt of receiving all the requested documentation we typically see the AR application approval to take 7-10 days and the following AP applications to take around 3 weeks.
No, Privium only has an SFC Type-9 licence. However, this licence enables Privium to deal in securities (Type-1) and/or advise on securities (Type-4) if these activities are carried out solely for the purpose of your asset management business. For private equity funds, Privium’s Type-9 licence covers co-investments if these are offered to investors in the fund.
Depending on the fit and properness of the applicant and other criteria maintained by the SFC, the registration process normally takes around 6–8 weeks.
No, it is not possible to make use of our office. Our clients have their own office space in Hong Kong that suits their needs and preferences. Based on availability, we are able to connect you to serviced office providers in Hong Kong. For an additional fee, you will have the option to make use of our company address for regulatory purposes.
No, we do not engage in any trading activity for our clients in Hong Kong. Nor do we hold any of our clients’ assets in custody. For some of our clients in Europe, we do support their investment strategy by performing currency hedges, for example.
In order to conduct asset management activity in Hong Kong, you will need to be registered as a Licensed Representative of Privium with the Securities and Futures Commission and be deemed fit and proper. One condition for this is that you are employed by Privium. This includes monthly salary payments and enrolment in our Mandatory Provident Fund scheme.