Do private fund investors receive asset management reports?

Since the 2021 reform, the obligation to deliver asset management reports applies to general private funds offered to general investors (reports need not be delivered to professional investors).

The financial authorities added items such as the fund's investment strategy, liquidity risk, and management risks and how they are managed, so that investors can accurately understand the risks of the fund's management. These strengthened safeguards may not apply to private funds made up solely of professional investors.