Wealth Management

Trust Training Certificate (TTC) - Unit 19: Collective Investment Schemes – Part 1 Private Arrangements (eCourse)



This eCourse will be accessible from 29 June 2020 to 23 August 2020.

This is Unit 19 of the training programme in pursuing the “Trust Training Certificate”.

This eCourse is developed in relation to the special arrangement for the participants joining the TTC Part B training in June and July 2020. It is prepared based on the recorded version of the last class (face-to-face mode) of Unit 19 done on 16 May 2019. For the participants who will take the TTC Part B Examination in August 2020, you should ensure you read the latest version of study guide and materials provided via the examination enrolment link.

It consists of one module – Module 28: Collective Investment Schemes – Part 1 Private Arrangements.

This eCourse has divided Module 28 into two parts. For each part, you must watch the recorded video and then pass the assessment (with unlimited attempts).


On completion of the course, you will be able to:
1. Understand and explain the key elements of what constitutes a Collective Investment Scheme (“CIS”), especially for private placement
2. Explain the differences between Unit Trusts (“UT”) and Open-ended Fund Companies (“OFC”) in the context of private CIS, the documentation involved, as well as the relevant regulatory obligations
3. Explain the key parties necessary for UTs and OFCs, as well as their roles and licensing requirements
4. Comparison of private CIS in Hong Kong to Private Funds in the Cayman islands


Module 28: Collective Investment Schemes - Part 1 Private Arrangements
The nature and use of Collective Investment Schemes (“CIS”) in form of:
1. Unit trust (“UT”)
2. Open-ended fund companies (“OFC”)
3. Private funds (Cayman) (“PF”)
in respect of the followings:
(a) Regulations and regulatory requirements in respect of private placement and differences (comparison of jurisdictions HK vs Cayman)
(b) Parties to each
(c) Trustee and directors’ duties thereto
(d) Licensing and restrictions
(e) Important drafting provisions
(f) General administrative requirements

Who should attend

The course is primarily targeted to those who would like to pursue “Trust Training Certificate” in order to apply for the Hong Kong Trustees’ Association Certified Trust Practitioner™ designation.

It is also relevant to those who would like to gain a solid understanding of the course subject matter and / or those who plan to enter the Trust industry sector.


Special remarks:

The course is NOT eligible for the financial incentive schemes of the WAM Pilot Programme.


SFC:3.00, PWMA:3.00, HKTA:3.00