,Hong Kong

Asset and wealth management business grows 21% to US$4.5t

The growth was attributed to the strong net fund inflows in 2020.

The asset and wealth management business in Hong Kong saw a 21% year-on-year (YoY) increase in assets under management (AUM) to $34.93t, or approximately US$34.5t, in 2020.

In a survey, published by the Securities and Futures Commission, it was found that the AUM of asset management and fund advisory business climbed 20% to $24t; whilst the AUM of private banking and private wealth management business grew 25% to $11.31t.

“Hong Kong experienced strong growth in asset management, fund advisory, private banking, and private wealth management business which was supported by strong net fund inflows in 2020,” SFC’s Executive Director of Investment Products Christina Choi said.

“Strengthening Hong Kong’s competitiveness as a leading asset and wealth management centre will remain one of the SFC’s top priorities in the coming year.”  

Net fund inflows for asset and wealth management business in 2020 amounted to $2.03t (US$262b), accounting for 33% of the YoY increase in AUM.

Moreover, assets held under trusts increased 17% to $4.48t (US$578b).

Non-Hong Kong investors remained a major source of funding for the asset and wealth management business, accounting for 64% of AUM.

The total number of staff in the asset and wealth management business increased 6% to 48,006.

Join Hong Kong Business community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

About $270m of the aid will be given as one-off cash subsidies to practitioners.
The rules will be implemented on 19 January.
A possible rate hike in March will also positively affect the bank.
Eligible customers who will apply online can get a 20% first-year premium discount.
Chow Tai Fook Jewelry Group from China/HK SAR was amongst the top 10 companies. 
About 76% have expressed their intentions to look for a new job. 
For the quarter ended, there was a $6.6b worth of sales recorded.
HK online sales could grow by 10% in two to three years.
This includes being more lenient in granting leaves for parents of school children.
Non-residents coming from the country to be barred entry.
Wei Mei Tan and Michael Wong will see their roles take effect immediately.
It vowed to align its resources with the Northern Metropolis Development Strategy.
Following this will be a week of self-monitoring and a virus test on the 19th day.