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  3. Executive Certificate in Fund Administration and Regulatory Compliance

Executive Certificate in Fund Administration and Regulatory Compliance
行政人員證書《基金行政與合規監管管理》

Course Code
EP175A
Application Code
2275-EP175A
Study mode
Part-time
Start Date
06 Mar 2025 (Thu)
Next intake(s)
Sep 2025
Duration
30 hours
Language
English
Course Fee
HK$8800 per programme
Deadline on 07 Feb 2025 (Fri)
Enquiries
28678312
28610278
farc@hkuspace.hku.hk
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Highlights

The programme takes an integrated approach to fund administration and the regulatory landscape in asset management. The programme offers an overview of investment fund structures, strategies, regulation and fund administration from front-end to back office operations. It also covers the current development of fund regulatory compliance in the Greater Bay Area.

On completion of the programme, students should be able to

  1. explain the functions of regulatory compliance framework in fund administration in HK;
  2. examine the regulatory, legal and reputational risk factors in fund administration and operations;
  3. discuss the professional practices in fund valuation and fund accounting;
  4. analyse the regulatory landscape of investment products in the GBA cross-boundary wealth management pilot scheme.

 

About The Association of Fund Administrators of Hong Kong and the Greater Bay Area

 afa new logo

 

The Association of Fund Administrators of Hong Kong and the Greater Bay Area (AFAHKGBA) was set up in 2019 with the mission to promote the best interests of fund administrators in Hong Kong and the Greater Bay Area (GBA) at the time of building the region as an asset management hub.

AFAHKGBA is the regional association of fund administration professionals that sets the standard for professional excellence and credentials. The aim is:

  1. to promote fund administration industry;
  2. to support and develop fund administration industry for Hong Kong and the Greater Bay Area’s development as an asset management hub;
  3. to address the requirements and goals of asset managers, asset owners and fund administrators with regulators and other industry bodies;
  4. to define the best practice through the development of industry policy, guidance papers, technical briefings and research;
  5. to develop professional training courses and seminars in fund administration.

 

WAM Pilot Programme

WAM

This course has already been approved as an eligible course of the Financial Incentive Scheme for Professional Training (“the Scheme”) under the Pilot Programme to Enhance Talent Training for the Asset and Wealth Management Sector (“the Pilot Programme”). The Scheme aims to enhance the competency and professionalism of in-service practitioners within the asset and wealth management sector and to assist other practitioners within the financial services industry in acquiring the knowledge and skills required for entering the sector. Eligible applicants will be subsidised 80% of the course fees by the HKSAR Government upon satisfactory completion of the courses approved by HKU SPACE, subject to a ceiling of HK$15,000. Hong Kong Securities and Investment Institute is appointed as the implementation agent of the Pilot Programme.  Regarding the details of eligible criteria and application procedures, please refer to the dedicated web-site of the Pilot Programme (https://www.wamtalent.org.hk/).

  • Participants who meet the eligibility criteria, attendance requirement and completion of the programme can apply for reimbursement under the Scheme.
    • Eligibility: Please refer the details at the WAM Pilot Programme website.
    • Attendance Requirement:
      • The minimum class attendance requirement is 70%.
      • Attend the whole programme session.
      • Participants will not be given attendance record if they are late and/ or absent from the programme session for more than 15 minutes.
      • Attendance for the entire programme is signified by the sign-in and sign-out records on the attendance form.
    • Satisfactory completion of the programme: Eligible participants who wish to apply for reimbursement under the Scheme must follow the conditions govern the award of the programme to meet the requirements under the Scheme.
      • A student must be registered on this programme.
      • A student must have paid all due fees and amounts to HKU SPACE.
      • A student must have been examined in all the prescribed course work.
      • A student must have achieved Pass grades.
      • Students should meet a minimum of 70% attendance.
      • A student must have complied with the Regulations and its amendments made from time to time.
  • Application to reimburse the course fee, together with the required documents, must be submitted within four months from the programme completion date. For programme, eligible participants can apply for course reimbursement upon satisfactory completion of the programme. A Letter of Completion will be issued to the eligible participants as a proof of completion of the course. The Letter of Completion will be sent to eligible participants by post upon completion of the programme.

  • For further information, please refer to the WAM Pilot Programme website.

Programme Details

The total number of contact hours is 30 for the entire programme.

Overview of investment fund industry in Hong Kong and Greater Bay Area
  • Different structures and strategies of investment funds, fund of funds and structured products
  • Roles and responsibilities of fund administrator, fund manager, custodian, prime broker, trustee and auditor
  • Trends and landscape of fund industry in the Greater Bay Area (GBA)
  • Current development of environmental, social and governance (ESG) and digital assets

 

Fund Administration and Operations
  • Overview of different fund structures
  • Legal structures and principle documents of fund administration of each structure
  • Investor services and reporting obligations
  • Custody services, trade capturing, reconciliation and global settlement environment
  • Role and responsibilities of trustee
  • Dividend payments, corporate entitlements, shareholder responsibilities
  • Overview of fund valuation process and fund accounting
  • Net asset value (NAV) computation process
  • Concept of accruals and prepayments
  • Concept of performance fee and its calculation methodology
  • Key principles of financial statements in fund administration
  • Tax treatment of different fund structures
  • Role of auditor and its interaction with fund manager and fund administrator
  • Concepts of value added tax (VAT) in the context of fund structures
  • Risks in fund administration – regulatory, legal, operational and reputational
  • Identifying the risks in fund administration work flow

 

Fund Administration and Regulatory Compliance
  • Rationale for financial regulations and type of regulation in fund administration
  • Scope of Securities and Futures Commission Ordinance (SFO)
  • Role and functions of Securities and Futures Commission (SFC)
  • Overview of fund administration and regulatory compliance
  • Types of fund documentation and reports in HK regulatory framework
  • Monitoring of fund investment policy
  • Adherence to regulatory and client investment restrictions
  • Know your customer (KYC) and Anti-money laundering (AML) compliance requirements in fund administration
  • Risk management, compliance monitoring and scenario analysis
  • Current development of wealth management connect in GBA and HK
  • Regulatory landscape of fund products in GBA
  • Developments in fund administration compliance and ESG factors

 

Assessment method

Two individual assignments for the whole programme.

Executive Certificate will be conferred to candidates who have achieved at least 70% attendance as well as attain pass grades of the programme.

Application Code 2275-EP175A Apply Online Now
Apply Online Now

Class Details

Mar 2025 Intake - Tentative timetable

Session Date Time
1 6/Mar/2025 (Thu) 7:00 pm - 10:00 pm
2 13/Mar/2025 (Thu) 7:00 pm - 10:00 pm
3 20/Mar/2025 (Thu) 7:00 pm - 10:00 pm
4 27/Mar/2025 (Thu) 7:00 pm - 10:00 pm
5 3/Apr/2025 (Thu) 7:00 pm - 10:00 pm
6 10/Apr/2025 (Thu) 7:00 pm - 10:00 pm
7 17/Apr/2025 (Thu) 7:00 pm - 10:00 pm
8 24/Apr/2025 (Thu) 7:00 pm - 10:00 pm
9 8/May/2025 (Thu) 7:00 pm - 10:00 pm
10 15/May/2025 (Thu) 7:00 pm - 10:00 pm

Venue: HKU SPACE Po Leung Kuk Stanley Ho Community College (HPSHCC) Campus (at Causeway Bay) or other locations in Hong Kong Island. The above tentative timetable may be subject to change without prior notice.

Teacher Information

Mr Raymond Chung

The General Manager of the Association of Fund Administrators of Hong Kong and the Greater Bay Area

Background

Raymond has over 30 years of experience in securities services, fund management, and brokerage industries gained from global financial firms including HSBC, UBS and Nomura. Raymond’s last job was in HSBC Securities Services as the Regional Head of Sales Enablement responsible for managing multi-millions of sales deals including RFP, Pricing, Sales Pitch covering fund administration, middle office, global custody and sub-custody products as well as AML KYC/client onboarding.  Raymond holds MSc/MBA/BBus degrees. Raymond is also a fellow member of Hong Kong Securities and Investment Institute.

Mr Anthony Lo

Vice Chairman of the Association of Fund Administrators of Hong Kong and the Greater Bay Area

Background

Anthony has joined Barings since 2018 and is now responsible for the client operations for Barings offices in Asia, including Australia, Hong Kong, Taiwan, China and Singapore. Prior to this, he held operation and client services positions at Bosera Asset Management, State Street, HSBC and Fortis for almost 17 years.

He graduated from The Hong Kong Polytechnic University and holds a bachelor degree in Accountancy and a LLM (Common Law) at The Chinese University of Hong Kong. He is also a CPA in Hong Kong and a fellow member of the Institute of Certified Public Accountant in the UK.

Ms Christine Wong

Committee Member of the Association of Fund Administrators of Hong Kong and the Greater Bay Area

Background

Christine is the Head of Finance and Operations of Blue Pool Capital and she has over 20 years of experience in fund structuring, administration and operations in both asset management companies and service provider companies. Before joining Blue Pool Capital, she was a Director at SHK Fund Management Limited in which she was responsible for setting up a Singapore branch and handling an onsite review carried out by the Monetary Authority of Singapore. Prior to that, she was a Vice President at HSBC Alternative Fund Services and a Manager at Fortis (Hong Kong) Limited.

She started her career as a Staff Accountant at Ernst & Young and then joined Morgan Stanley as a controller. Miss Wong received her bachelor’s degree in Business Studies and a master’s degree in Business Administration at City University of Hong Kong. She is also an Associate Member of the Hong Kong Institute of Certified Public Accountants and a Fellow of the Association of Chartered Certified Accountants.

Fee

Application Fee

HK$150 (Non-refundable)

Course Fee
  • Course Fee : HK$8800 per programme

Entry Requirements

Applicants shall hold:

  1. a bachelor’s degree awarded by a recognized University or equivalent; or
  2. an Associate Degree/ a Higher Diploma or equivalent, and have at least 2 years of relevant work experience.

Applicants with other qualifications will be considered on individual merits.

Apply

Online Application Apply Now

Application Form Application Form

Enrolment Method
Payment Method
1. Cash, EPS, WeChat Pay Or Alipay

Course fees can be paid by cash, EPS, WeChat Pay or Alipay at any HKU SPACE Enrolment Centres.

2. Cheque Or Bank draft

Course fees can also be paid by crossed cheque or bank draft made payable to “HKU SPACE”. Please specify the programme title(s) for application and applicant’s name. You may either:

  • bring the completed form(s), together with the appropriate course or application fees in the form of a cheque, and any required supporting documents to any of the HKU SPACE enrolment centres;
  • or mail the above documents to any of the HKU SPACE Enrolment Centres, specifying “Course Application” on the envelope. HKU SPACE will not be responsible for any loss of personal information and payment sent by mail.
3. VISA/Mastercard

Applicants may also pay the course fee by VISA or Mastercard, including the “HKU SPACE Mastercard”, at any HKU SPACE enrolment centres. Holders of the HKU SPACE Mastercard can enjoy a 10-month interest-free instalment period for courses with a tuition fee worth a minimum of HK$2,000; however, the course applicant must also be the cardholder himself/herself. For enquiries, please contact our staff at any enrolment centres.

4. Online Payment

Online application / enrolment is offered for most open admission courses (enrolled on first come, first served basis) and selected award-bearing programmes. Application fees and course fees of these programmes/courses can be settled by using "PPS by Internet" (not available via mobile phones), VISA or Mastercard. In addition to the aforesaid online payment channels, new and continuing students of award-bearing programmes with available online service, they may also pay their course fees by Online WeChat Pay, Online Alipay or Faster Payment System (FPS). Please refer to Enrolment Methods - Online Enrolment  for details.

Notes

  • If the programme/course is starting within five working days, application by post is not recommended to avoid any delays. Applicants are advised to enrol in person at HKU SPACE Enrolment Centres and avoid making cheque payment under this circumstance.

  • Fees paid are not refundable except under very exceptional circumstances (e.g. course cancellation due to insufficient enrolment), subject to the School’s discretion. In exceptional cases where a refund is approved, fees paid by cash, EPS, WeChat Pay, Alipay, cheque, FPS or PPS by Internet will be reimbursed by a cheque, and fees paid by credit card will be reimbursed to the credit card account used for payment. 

  • In addition to the published fees, there may be additional costs associated with individual programmes. Please refer to the relevant course brochures or direct any enquiries to the relevant programme team for details.
  • Fees and places on courses cannot be transferrable from one applicant to another. Once accepted onto a course, the student may not change to another course without approval from HKU SPACE. A processing fee of HK$120 will be levied on each approved transfer.
  • HKU SPACE will not be responsible for any loss of payment, receipt, or personal information sent by mail.
  • For payment certification, please submit a completed form, a sufficiently stamped and self-addressed envelope, and a crossed cheque for HK$30 per copy made payable to “HKU SPACE” to any of our enrolment centres.
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