Accounting & Finance Finance and Compliance
On completion of the programme, students should be able to
- explain the functions of regulatory compliance framework in fund administration in HK;
- examine the regulatory, legal and reputational risk factors in fund administration and operations;
- discuss the professional practices in fund valuation and fund accounting;
- analyse the regulatory landscape of investment products in the GBA cross-boundary wealth management pilot scheme.
About The Association of Fund Administrators of Hong Kong and the Greater Bay Area
The Association of Fund Administrators of Hong Kong and the Greater Bay Area (AFAHKGBA) was set up in 2019 with the mission to promote the best interests of fund administrators in Hong Kong and the Greater Bay Area (GBA) at the time of building the region as an asset management hub.
AFAHKGBA is the regional association of fund administration professionals that sets the standard for professional excellence and credentials. The aim is:
- to promote fund administration industry;
- to support and develop fund administration industry for Hong Kong and the Greater Bay Area’s development as an asset management hub;
- to address the requirements and goals of asset managers, asset owners and fund administrators with regulators and other industry bodies;
- to define the best practice through the development of industry policy, guidance papers, technical briefings and research;
- to develop professional training courses and seminars in fund administration.
WAM Pilot Programme
This course has already been approved as an eligible course of the Financial Incentive Scheme for Professional Training (“the Scheme”) under the Pilot Programme to Enhance Talent Training for the Asset and Wealth Management Sector (“the Pilot Programme”). The Scheme aims to enhance the competency and professionalism of in-service practitioners within the asset and wealth management sector and to assist other practitioners within the financial services industry in acquiring the knowledge and skills required for entering the sector. Eligible applicants will be subsidised 80% of the course fees by the HKSAR Government upon satisfactory completion of the courses approved by HKU SPACE, subject to a ceiling of HK$15,000. Hong Kong Securities and Investment Institute is appointed as the implementation agent of the Pilot Programme. Regarding the details of eligible criteria and application procedures, please refer to the dedicated web-site of the Pilot Programme (https://www.wamtalent.org.hk/).
- Participants who meet the eligibility criteria, attendance requirement and completion of the programme can apply for reimbursement under the Scheme.
- Eligibility: Please refer the details at the WAM Pilot Programme website.
- Attendance Requirement:
- The minimum class attendance requirement is 70%.
- Attend the whole programme session.
- Participants will not be given attendance record if they are late and/ or absent from the programme session for more than 15 minutes.
- Attendance for the entire programme is signified by the sign-in and sign-out records on the attendance form.
Satisfactory completion of the programme: Eligible participants who wish to apply for reimbursement under the Scheme must follow the conditions govern the award of the programme to meet the requirements under the Scheme.
- A student must be registered on this programme.
- A student must have paid all due fees and amounts to HKU SPACE.
- A student must have been examined in all the prescribed course work.
- A student must have achieved Pass grades.
- Students should meet a minimum of 70% attendance.
- A student must have complied with the Regulations and its amendments made from time to time.
Application to reimburse the course fee, together with the required documents, must be submitted within four months from the programme completion date. For programme, eligible participants can apply for course reimbursement upon satisfactory completion of the programme. A Letter of Completion will be issued to the eligible participants as a proof of completion of the course. The Letter of Completion will be sent to eligible participants by post upon completion of the programme.
For further information, please refer to the WAM Pilot Programme website.
Overview of investment fund industry in Hong Kong and Greater Bay Area
- Different structures and strategies of investment funds, fund of funds and structured products
- Roles and responsibilities of fund administrator, fund manager, custodian, prime broker, trustee and auditor
- Trends and landscape of fund industry in the Greater Bay Area (GBA)
- Current development of environmental, social and governance (ESG) and digital assets
Fund Administration and Operations
- Overview of different fund structures
- Legal structures and principle documents of fund administration of each structure
- Investor services and reporting obligations
- Custody services, trade capturing, reconciliation and global settlement environment
- Role and responsibilities of trustee
- Dividend payments, corporate entitlements, shareholder responsibilities
- Overview of fund valuation process and fund accounting
- Net asset value (NAV) computation process
- Concept of accruals and prepayments
- Concept of performance fee and its calculation methodology
- Key principles of financial statements in fund administration
- Tax treatment of different fund structures
- Role of auditor and its interaction with fund manager and fund administrator
- Concepts of value added tax (VAT) in the context of fund structures
- Risks in fund administration – regulatory, legal, operational and reputational
- Identifying the risks in fund administration work flow
Fund Administration and Regulatory Compliance
- Rationale for financial regulations and type of regulation in fund administration
- Scope of Securities and Futures Commission Ordinance (SFO)
- Role and functions of Securities and Futures Commission (SFC)
- Overview of fund administration and regulatory compliance
- Types of fund documentation and reports in HK regulatory framework
- Monitoring of fund investment policy
- Adherence to regulatory and client investment restrictions
- Know your customer (KYC) and Anti-money laundering (AML) compliance requirements in fund administration
- Risk management, compliance monitoring and scenario analysis
- Current development of wealth management connect in GBA and HK
- Regulatory landscape of fund products in GBA
- Developments in fund administration compliance and ESG factors
Two individual assignments for the whole programme.
Executive Certificate will be conferred to candidates who have achieved at least 70% attendance as well as attain pass grades of the programme.
|Application Code||2175-EP175A||Apply Online Now|
|Apply Online Now|
Modules & Class Details
MAR 2024 intake
14 Mar 2024 (Thu)
7:00 pm - 10:00 pm
21 Mar 2024 (Thu)
28 Mar 2024 (Thu)
11 Apr 2024 (Thu)
18 Apr 2024 (Thu)
25 Apr 2024 (Thu)
2 May 2024 (Thu)
9 May 2024 (Thu)
16 May 2024 (Thu)
23 May 2024 (Thu)
HKU SPACE Po Leung Kuk Stanley Ho Community College (HPSHCC) Campus (at Causeway Bay) or other locations in Hong Kong Island. The above tentative timetable may be subject to change without prior notice.
Mr. Raymond Chung
The General Manager of the Association of Fund Administrators of Hong Kong and the Greater Bay Area
Raymond has over 30 years of experience in securities services, fund management, and brokerage industries gained from global financial firms including HSBC, UBS and Nomura. Raymond’s last job was in HSBC Securities Services as the Regional Head of Sales Enablement responsible for managing multi-millions of sales deals including RFP, Pricing, Sales Pitch covering fund administration, middle office, global custody and sub-custody products as well as AML KYC/client onboarding. Raymond holds MSc/MBA/BBus degrees. Raymond is also a fellow member of Hong Kong Securities and Investment Institute.
Mr Anthony Lo
Vice Chairman, AFAHKGBA
Anthony has joined Barings since 2018 and is now responsible for the client operations for Barings offices in Asia, including Australia, Hong Kong, Taiwan, China and Singapore. Prior to this, he held operation and client services positions at Bosera Asset Management, State Street, HSBC and Fortis for almost 17 years.
He graduated from The Hong Kong Polytechnic University and holds a bachelor degree in Accountancy and a LLM (Common Law) at The Chinese University of Hong Kong. He is also a CPA in Hong Kong and a fellow member of the Institute of Certified Public Accountant in the UK.
Ms Christine Wong
Committee Member, AFAHKGBA
Christine is the Head of Finance and Operations of Blue Pool Capital and she has over 20 years of experience in fund structuring, administration and operations in both asset management companies and service provider companies. Before joining Blue Pool Capital, she was a Director at SHK Fund Management Limited in which she was responsible for setting up a Singapore branch and handling an onsite review carried out by the Monetary Authority of Singapore. Prior to that, she was a Vice President at HSBC Alternative Fund Services and a Manager at Fortis (Hong Kong) Limited.
She started her career as a Staff Accountant at Ernst & Young and then joined Morgan Stanley as a controller. Miss Wong received her bachelor’s degree in Business Studies and a master’s degree in Business Administration at City University of Hong Kong. She is also an Associate Member of the Hong Kong Institute of Certified Public Accountants and a Fellow of the Association of Chartered Certified Accountants.
Fee & Entry Requirements
Applicants shall hold:
- a bachelor’s degree awarded by a recognized University or equivalent; or
- an Associate Degree/ a Higher Diploma or equivalent, and have at least 2 years of relevant work experience.
Applicants with other qualifications will be considered on individual merits.
HK$150 (Non-refundable)Course Fee
- Course Fee : HK$8800 per programme
Online Application Apply NowEnrolment Method
HKU SPACE provides 24-hour online application and payment service for students to apply to selected award-bearing programmes and to enrol in most open admission courses (courses enrolled on a first come, first served basis) via the Internet. Applicants may settle the payment by using either "PPS by Internet" (not available via mobile phones), VISA or Mastercard online. Online WeChat Pay, Online AliPay and Faster Payment System (FPS) are also available for continuing enrolment in the same programme, if online service is offered.
For first time enrolment
Complete the online application form
Applicant may click the icon on the top right-hand corner of the programme/course webpage to make online application, and then follow the instructions to fill in the online application form.
Some programmes/courses may admit by selection, and may require applicants to provide electronic copy of any required documents (e.g. proof of qualification) as indicated on the programme/course webpage. Only file format in doc, docx, jpg and pdf are supported.
Make Online Payment
Pay the application or programme/course fees by either using:
"PPS by Internet" - You will need a PPS account and a PPS Internet password. For information on how to open a PPS account and how to set up a PPS Internet password, please visit http://www.ppshk.com.
*Credit Card Online Payment - Course fees can be paid by VISA or Mastercard including the “HKU SPACE Mastercard”.
* HKU SPACE Mastercard cardholders who wish to enjoy 10-month interest free instalment scheme must pay their tuition fees in person at any of our HKU SPACE Enrolment Centres.
To know more about first-time online application/enrolment and payment, please refer to the user guide of Online Application / Enrolment and Payment:
For continuing enrolment in the same programme
Selected programmes offer online continuing enrolment service. Programme staff will inform students if they offer this service and offer further enrolment details.
Online Payment can be made via "PPS by Internet" (not available via mobile phones), VISA or Mastercard, Online WeChat Pay, Online AliPay and Faster Payment System (FPS)
In Person / Mail
For first time enrolment
For first come, first served short courses, complete the Application for Enrolment Form SF26 and bring or post the completed form(s), together with the appropriate application/course fee(s) and any required supporting documents to any of the HKU SPACE enrolment centres.
[Download Enrolment Form SF26]
Award-bearing and professional courses may require other information. Forms are usually available at the enrolment centres or on request from programme staff. Bring or post the completed form(s), together with the appropriate application/course fee(s) and any required supporting documents to any of the HKU SPACE enrolment centres.
For continuing enrolment in the same programme
The standard ‘Enrolment/Payment Slip’ is designed for students of award-bearing programmes or remaining programmes in a suite of programmes requiring continuing enrolment and it applies to most programmes.
Students should complete the “Enrolment/Payment Slip” which will be made available by relevant programme staff and return the slip to any HKU SPACE enrolment centre or post it to the relevant programme staff with appropriate fee payment.
Please refer to available Payment Methods for fee payment information. If you are in doubt about the procedures, please check the individual course details, or contact our programme staff or enrolment centres.
Please note the followings for programme/course enrollment:
- Applicants should not leave the online application idle for more than 10 minutes. Otherwise, applicants must restart the application process.
- Only Early Bird Discount is supported for Online Applicants (Application). To enjoy other types of discount, please visit one of our enrolment centres.
- During the online application process, asynchronous application and payment submission may occur. Successful payment may not guarantee successful application. In case of unsuccessful submission, our programme staff will contact you shortly.
- Applicants are reminded that they should only apply for the same programme/course once through counter or online application.
- For online enrolment, a payment confirmation page would be displayed after payment has been made successfully. In addition, a confirmation email would also be sent to your email account. You are advised to keep your payment confirmation for future enquiries.
- Fees paid are not refundable except as statutorily provided or under very exceptional circumstances (e.g. course cancellation due to insufficient enrolment).
- If admission is by selection, the official receipt is not a guarantee that your application has been accepted. We will inform you of the result as soon as possible after the closing date for application. Unsuccessful applicants will be given a refund of programme/course fee if already paid.
The School provides a platform for online services for a selected range of products it offers. While every effort is made to ensure timeliness and accuracy of information contained in this website, such information and materials are provided "as is" without express or implied warranty of any kind. In particular, no warranty or assurance regarding non-infringement, security, accuracy, fitness for a purpose or freedom from computer viruses is given in connection with such information and materials.
The School (and its respective employees and subsidiaries) is not liable for any loss or damage in connection with any online payments made by you by reason of (i) any failure, delay, interruption, suspension or restriction of the transmission of any information or message from any payment gateways of the relevant banks and/or third party merchants for processing credit/debit/smart card or other payment facilitation mechanism; (ii) any negligence, mistake, error in or omission from any information or message transmitted from the said payment gateways; (iii) any breakdown, malfunction or failure of those gateways in effecting online payment service or (iv) anything arisen out of or in connection with the said payment gateways, including but not limited to unauthorised access to or alternation of the transmission of data or any unlawful act not permitted by the law.
1. Cash, EPS, WeChat Pay Or Alipay
Course fees can be paid by cash, EPS, WeChat Pay or Alipay at any HKU SPACE Enrolment Centres.
2. Cheque Or Bank draft
Course fees can also be paid by crossed cheque or bank draft made payable to “HKU SPACE”. Please specify the programme title(s) for application and the applicant’s name.. You may either:
- bring the completed form(s), together with the appropriate course or application fees in the form of a cheque, and any required supporting documents to any of the HKU SPACE enrolment centres;
- or mail the above documents to any of the HKU SPACE Enrolment Centres, specifying “Course Application” on the envelope. HKU SPACE will not be responsible for any loss of payment sent by mail.
Applicants may also pay the course fee by VISA or Mastercard, including the “HKU SPACE Mastercard”, at any HKU SPACE enrolment centres. Holders of the HKU SPACE Mastercard can enjoy a 10-month interest-free instalment period for courses with a tuition fee worth a minimum of HK$2,000; however, the course applicant must also be the cardholder himself/herself. For enquiries, please contact our staff at any enrolment centres.
4. Online Payment
Online application / enrolment is offered for most open admission courses (course enrolled on first come, first served basis) and selected award-bearing programmes. Application fees and course fees of these programmes/courses can be settled by using "PPS by Internet" (not available via mobile phones), VISA or Mastercard. In addition to the aforesaid online payment channels, continuing students of award-bearing programmes, if their programmes offer online service, may also pay their course fees by Online WeChat Pay, Online Alipay and Faster Payment System (FPS). Please refer to Enrolment Methods - Online Enrolment for details.
- If the programme/course is starting within five working days, application by post is not recommended to avoid any delays. Applicants are advised to enrol in person at HKU SPACE Enrolement Centres and avoid making cheque payment under this circustance.
- Fees paid are not refundable except under very exceptional circumstances (e.g. course cancellation due to insufficient enrolment), subject to the School’s discretion. In exceptional cases where a refund is approved, fees paid by cash, EPS, WeChat Pay, Alipay, cheque or PPS (for online payment only) will normally be reimbursed by a cheque, and fees paid by credit card will normally be reimbursed to the payment cardholder's credit card account.
- In addition to the published fees, there may be additional costs associated with individual programmes. Please refer to the relevant course brochures or direct any enquiries to the relevant programme team for details.
- Fees and places on courses cannot be transferrable from one applicant to another. Once accepted onto a course, the student may not change to another course without approval from HKU SPACE. A processing fee of HK$120 will be levied on each approved transfer.
- Receipts will be issued for fees paid but HKU SPACE will not be repsonsible for any loss of receipt sent by mail.
- For payment certification, please submit a completed form, a sufficiently stamped and self-addressed envelope, and a crossed cheque for HK$30 per copy made payable to "HKU SPACE" to any of our enrolment centres.
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- Finance and Compliance