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2024 Policy Address: Family office policies affirm HK's wealth management hub status

An analyst said the initiatives will boost investor confidence.

Hong Kong’s plans to strengthen the family office ecosystem and other policies will reaffirm its position as a leading global asset and wealth management hub, analysts said.

In the 2024 Policy Address, the government outlined initiatives to develop the family office sector, including creating new distribution channels for private equity funds through the Hong Kong Exchange and fostering collaborations with sovereign wealth funds from various regions.

Stephanie Leung, CIO at StashAway, said these moves will boost investor confidence and create a dynamic investment environment. Josephine Kwan, PwC Hong Kong Asset & Wealth leader, added that these efforts will help Hong Kong achieve its goal of becoming the largest cross-boundary wealth management centre by 2028.

Thomas Chak, head of Capital Markets & Investment Services at Colliers, noted that Hong Kong’s wide range of financial products could attract more family offices, helping to diversify their assets and bring additional capital into the market.

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