Fore Elite Capital Management Limited approved to issue 100% virtual asset funds
HONG KONG, March 2, 2022 /PRNewswire/ — Fore Elite Capital Management Limited (“Fore Elite”) gladly announced that it has successfully obtained the approval of the Hong Kong Securities and Futures Commission (the “SFC”) on January 18, 2022, which allows Fore Elite to manage and distribute 100% virtual asset funds under the SFC’s “Proforma Terms and Conditions for Licensed Corporations which Manage Portfolios that Invest in Virtual Assets” (“T&C”).
It makes Fore Elite the fourth virtual asset management company approved by the Hong Kong SFC. The company is also one of the few approved to issue multi-strategy virtual asset funds in Asia.
In the meantime, the company revealed that it has successfully issued an actively managed virtual asset fund that is designated for professional investors.
Meanwhile, Fore Elite (February 28, 2022) closed 100 million USD seed funding from the Founder and CEO of Fore Elite, Mr Ejoe Ye and Huobi Group. Fore Elite plans to open its multi-strategy funds to professional investors.
Looking back, last year has been a defining year for virtual assets such as Bitcoin and Ethereum. The emerging industry, which evolved at an unprecedented rate, steps into the limelight for many institutional investors.
Mr Ejoe Ye says: “Virtual assets are playing important role in the world economy. Legality and compliance are the irreversible historical direction of the virtual asset sector. After more than two years of communication, we are much honoured to be granted the license by the Hong Kong Securities and Futures Commission. In the future, we will continue to actively and closely cooperate with regulatory authority to promote the healthy development of the whole industry.”
About Fore Elite
Fore Elite was established in 2017 by Mr Ejoe Ye, who graduated from Columbia Business School, with over 12 years’ hedge fund working experience in Wall Street and Hong Kong. The company holds Type 4 (Advising on securities) and Type 9 (Asset Management) licenses of the Hong Kong Securities and Futures Commission. In addition, On January 18, 2022, Fore Elite was approved by the Hong Kong Securities and Futures Commission to manage portfolios that invest in virtual assets under the SFC’s “Proforma Terms and Conditions for Licensed Corporations”. For more information, please visit www.foreelite.com
NB: Professional investors are defined as in the Securities and Futures Ordinance and its subsidiary legislation.
SOURCE Fore Elite Capital Management Hong Kong
