Hong Kong Investment Corporation Limited issues invitation for proposals regarding the service provider for asset management administration and related services of the Investment Portfolio under the New Capital Investment Entrant Scheme (December 2024)

The Hong Kong Investment Corporation Limited (“HKIC”) issues invitation for proposals (“IFP”) regarding the service provider for asset management administration and related services of the Investment Portfolio (“CIES IP”) under the New Capital Investment Entrant Scheme (“New CIES”).

Following announcements on the operational details (details here) and the issuance of IFP for fund managers (details here) last month, the HKIC officially issues the IFP for the relevant appointment of service provider for asset management administration and related services for the CIES IP, with a view to appointing an institution with professional expertise and experience to provide asset management administration and related services for the CIES IP. Such services would include but not limited to coordinating with the fund managers for consolidation of financial reports, and reporting valuation, performance and cashflow information. For more details, please refer to the attachment.

The deadline for submission of proposals is 11 December 2024.

The Government of the Hong Kong Special Administrative Region announced the details of the New CIES early this year and has started to accept application since 1 March. An eligible applicant under the New CIES must make investment of a minimum of HK$30 million in the permissible investment, including placing HK$3 million into the CIES IP. The HKIC will set up and oversee the management of the CIES IP. The relevant capital will be used to accelerate the promotion of cutting-edge industries or new applications, which are being shaped and at the initial stage of development. According to the HKIC’s latest estimate, the size of the CIES IP under the New CIES is expected to be at least HK$450 million by the end of this year. Subject to the successful identification and appointment of fund managers and service provider for asset management administration and related services, the CIES IP is expected to start investment in the first quarter of 2025.


Hong Kong Investment Corporation Limited
December 2024