Banking Supervision Department

26 February 2008

Dear Sir / Madam,

Fund Management Activities Survey 2007
Conducted by the Securities and Futures Commission (SFC)

I am writing to invite your institution to participate in the SFC's annual Fund Management Activities Survey (the "FMAS") for the year ended 31 December 2007.  The purpose of the survey is to collect information on fund management activities in Hong Kong for regulatory and market facilitation purposes and to better understand the competitive edge of the sector.  

Major changes that have been introduced to the questionnaire this year are:

(a)    deletion of the previous section on distribution of collective investment schemes; and

(b)    addition of new questions to collect more information about discretionary asset management and non-discretionary asset management – these are related to the breakdown of the total assets under management by types of funds, the amount of assets sourced from Qualified Domestic Institutional Investors (QDII), and the amounts of inflow / outflow of assets under management.   

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 28 March 2008. 

Please arrange for completion of the FMAS questionnaire using the attached electronic format and submission to the SFC by means of a floppy disk or CD by hand or post to the address stated on the cover sheet 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 Part I.

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 Hong Kong Monetary Authority except in the form of summary statistics.

Should you have any questions on the survey, please contact the SFC Investment Products Department at 2842-7723 (if your institution's name begins with the letter A to M) or 2283-6199 (if your institution’s name begins with the letter N to Z).

Yours faithfully,

Shu-Pui Li
Head (Banking Supervision)