Membership

Different Types Of Membership

Louis & Franco Limited has three membership types:

1. Full & overseas members
A fund company can qualify as a full member or an overseas member if it is either the manager or the investment adviser of at least one Investment Fund.

An "Investment Fund" means

- an authorised unit trust/mutual fund; or

- a pooled retirement fund authorized under the Code on Investment-Linked Assurance Schemes or the Code on Pooled Retirement Funds; or

- a retirement scheme registered under the Occupational Retirement Schemes Ordinance; or

- a provident fund scheme registered under the Mandatory Provident Fund Schemes Ordinance; or

- a closed end investment company listed on a Recognised Exchange.

The main difference between these two types of members is that a full member must be a company incorporated in Hong Kong or if it is incorporated outside Hong Kong, it has established a place of business in Hong Kong whereas an overseas member must be a company incorporated in any part of the world other than Hong Kong.

2. Affiliate members

An affiliate member is a company that has obtained a licence from the Hong Kong Securities and Futures Commission for type 9 regulated activities or is a fund company incorporated in the People's Republic of China. The primary business is fund management including the management of discretionary accounts, segregated portfolios or providing investment management services for non-collective investment schemes or the manager. In addition, an investment adviser of any fund investment company or arrangement not included as an Investment Fund is also eligible to apply as an affiliate member.

3. Associate members

An associate member is a company conducting or providing any service of accounting, legal, trustee, custodian, administration, banking, distribution, and technological support to the fund management industry or any related professional services.

Louis & Franco Limited has 61 affiliate and associate members (as at October 2016).