Ucits (or mutual funds in securities) provide a legal framework for the management and sale of investment funds in Europe. It will enable the exchange of information, regular dialogue and monitoring on the subject of collaborative electricity in the context of the cross-border offer of eligible public funds from Hong Kong and Luxembourg ucits funds. The agreement will help improve the distribution of Hong Kong`s eligible public funds and Luxembourg ucits funds in each market. Claude Marx, Director General of the CSSF, said: “Hong Kong and Luxembourg have a long history of cooperation in the field of investment fund distribution. Funds domiciled in Luxembourg are distributed in more than 70 markets around the world, including Hong Kong. “It strengthens our relations and regulatory cooperation with Luxembourg, an important crossroads for funds.” In Hong Kong, 1,037 investment funds are sold and are headquartered in Luxembourg, representing 47% of the 2,185 SFC eligible investment funds as of September, according to SFC data. “The new declaration of intent is an important step towards the mutual recognition of investment funds in our respective legal systems and demonstrates the excellent cooperation between our two supervisory authorities.” The hands of lawyers working with contracts and agreements The MoU extends mutual recognition of the network of funds by the Hong Kong regulator to five tags: Financial Sector Oversight Commission Funds Hong Kong Luxembourg “The new cooperation framework expands our MRF network in mainland China, Switzerland, France and the United Kingdom,” said Ashley Alder, CEO of SFC.