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24 Sep 2020

Stephenson Harwood advises Grand Capital Securities Limited on inaugural OFC

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Law firm Stephenson Harwood LLP has advised Grand Capital Securities Limited (Grand Capital) on the establishment of its first private open-ended fund company (OFC), GC OFC, and the OFC’s two initial sub-funds.

Grand Capital is a Hong Kong company licensed by the Hong Kong Securities Future Commission (SFC) to conduct type 1 (dealing in securities), type 4 (advising on securities) and type 9 (asset management) regulated activities. The OFC, which is a variable capital structure, will give Grand Capital's investors more flexibility to enter and exit the fund than they would have if it was a fixed capital regime.

“It was a pleasure to work with the SFC to help Grand Capital register its inaugural OFC,” said Penelope Shen, partner, Stephenson Harwood. “This deal marks the establishment of the fourth private OFC in Hong Kong, and we look forward to working further with Hong Kong’s fund industry to promote the city as a global fund domicile and asset management hub.”

The Stephenson Harwood team was led by partner Penelope Shen, who was supported by associate Jet Tang.

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Penelope Shen

Penelope Shen
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T:  +852 3166 6936 M:  Email Penelope | Vcard Office:  Hong Kong

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