Pacific Hawk Global Fund OFC

Pacific Hawk Global Fund Open-ended Fund Company (OFC)

For more information about the Pacific Hawk Global Fund OFC, please visit www.pacifichawkfunds.com or email ph001@pacifichawk.com

Pacific Hawk Global Fund Open-ended Fund Company (OFC) is an open-ended fund company incorporated under the Securities and Futures Open-Ended Fund Companies) Rules (Chapter 571AQ) of Hong Kong on 23 August 2019. The Fund’s ISIN number is HK0000530235.

What is an Open-ended Fund Company (OFC)?

Pacific Hawk Global Fund OFC is an open-ended collective investment scheme structured in corporate form with limited liability and variable share capital.  Some of the key benefits of an OFC include:

  • Variable share capital to meet shareholder redemption requests
  • Corporate form with legal personality
  • Shareholder liability is limited to shares in an OFC
  • Investor familiarity as the OFC is based on the common law legal framework and regulatory regimes of other major asset management jurisdictions
  • Exemption from profits tax for privately offered OFCs if certain conditions are met
  • Investor protection under Hong Kong law

Pacific Hawk Global Fund OFC is established and incorporated under the Securities and Futures Ordinance of Hong Kong (“SFC”). Under the OFC regime, the Securities and Futures Commission of Hong Kong is responsible for the registration and regulation of OFCs. The Hong Kong Registrar of Companies oversees the incorporation and statutory corporate filings of OFCs. The core legislation governing the Fund comprises (1) the Hong Kong Securities and Futures (Open-ended Fund Companies) Rules (“OFC Rules”); (2) the Code on Open-Ended Fund Companies (“OFC Code”); and (3) the Securities and Futures (Amendment) 2016 Ordinance (“Ordinance”). An Instrument of Incorporation serves as the constitutive document for an OFC. The OFC Rules, OFC Code and Ordinance specify minimum provisions with the Instrument of Incorporation. The initial directors of an OFC must sign the Instrument of Incorporation before it is subsequently filed and registered with the Securities and Futures Commission of Hong Kong.

As a private OFC, the Fund is supervised by the SFC, which has enforcement powers, including investigatory powers, powers of restriction and civil and criminal powers to properly oversee the OFC and its activities.

Investment Objectives and Method

The investment objective of the Fund is to seek consistent returns by investing substantially all its assets, net of reserves maintained for reasonably anticipated expenses, in funds (the “Underlying Funds”) we believe have an investment edge in producing solid, risk adjusted returns globally managed by talented and experienced, third-party portfolio managers (the “Underlying Managers”) who employ diverse styles and strategies.

We believe our multi-manager, multi-strategy approach can achieve consistent capital appreciation with reduced performance volatility and risk because the Underlying Funds we expect to invest in are managed by Underlying Managers who have proven investment management experience.

When fully invested, the Fund expects to maintain a portfolio of at least five Underlying Fund investments.

Our selection of Underlying Funds is subject to certain investment policies, although during certain periods the Fund’s overall portfolio may be biased towards certain types of strategies (e.g. directional, relative value, event-driven). We may on one or more occasions trade directly on behalf of the Fund, generally for hedging or risk management purposes.

The Investment Manager

Pacific Hawk (HK) Limited is a private company incorporated in Hong Kong in 1997 and licensed by the Hong Kong Securities and Futures Commission for Type 4(Advising on Securities) and Type 9 (Asset Management) regulated activities.

Pacific Hawk is not registered with the Securities Exchange Commission (the “SEC”) under the U.S. Investment Advisers Act of 1940, as amended (“Advisers Act”). Pacific Hawk does not currently operate the Fund as a commodity pool and will continue to rely upon no-action relief granted by the CFTC staff to operators of “fund or funds” issued in November 2012 until the CFTC issues revised guidance on the subject. If it determines after considering any such revised guidance that it is entitled to treat the Fund as not being a commodity pool for which Pacific Hawk must be registered commodity pool operator (“CPO”) pursuant to CFTC Regulation Section 4.13(a)(3), Pacific Hawk intends to claim the exemption and, as is currently the case, not operate the Fund as a commodity pool. However, if Pacific Hawk and the Fund become subject to CFTC regulation, as well as related National Futures Association rules, the Fund may incur additional compliance and other expenses.

For more information about the Pacific Hawk Global Fund OFC, please visit www.pacifichawkfunds.com or email ph001@pacifichawk.com