28 February 2006

Dear Sir / Madam,

Fund Management Activities Survey 2005
Conducted by the Securities and Futures Commission (SFC)

I am writing to invite you to participate in the SFC's annual Fund Management Activities Survey for the year ended 31 December 2005. The purpose of the survey is to collect information on fund management activities¹ in Hong Kong for regulatory and market facilitation purposes and to better understand the competitive edge of the sector.

A copy of the questionnaire is enclosed (please enable Macros when opening the Excel file). Please have the questionnaire completed and returned to the SFC by 27 March 2006. To reduce the amount of paper work and facilitate data analysis, your institution is encouraged to submit the completed questionnaire using the attached electronic format and submit it to the SFC by means of a floppy disk or CD by hand or post to the address stated on the first page of the questionnaire.

If your institution did not engage in any of the activities covered in the survey throughout the year, you are still requested to fill in the first page.

The SFC may contact your institution to discuss information obtained from the questionnaire. All information relating to individual institutions will be treated in strict confidence and will not be disclosed by the SFC to any third party other than the HKMA except in the form of summary statistics.

Should you have any questions on the survey, please contact the SFC Investment Products Department at 2842-7712 (if your institution's name begins with the letter A to M) or 2840-9592 (if your institution's name begins with the letter N to Z).

Yours faithfully,

Alice Lee
Acting Head (Banking Supervision)