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Alternative Market Briefing

Hong Kong maintains position as international fund management center

Monday, July 25, 2016

Komfie Manalo, Opalesque Asia:

Hong Kong has maintained its position as an important international fund management center despite the volatility in the global markets, even though it has also registered a slight decrease in assets on a year-on-year basis, the Securities and Futures Commission (SFC) said.

In its annual Fund Management Activities Survey (FMAS), the SFC said that the combined fund management business in Hong Kong decreased by 1.6% year-on-year to HK$17.393bn as of 31 December 2015.

"Amid a volatile year in global markets, Hong Kong maintained its position as a leading international fund management center," said Ashley Alder, the SFC's chief executive officer. "Following the successful implementation of the groundbreaking Mainland-Hong Kong Mutual Recognition of Funds (MRF) scheme, the SFC will pursue strategies to further develop Hong Kong as a global, full service asset management center."

The survey's findings indicate that funds sourced from overseas investors accounted for 68.5% of Hong Kong’s fund management business (excluding real estate investment trusts or REITs). During the year, aggregate private wealth management business including both the private banking business and private client funds, which form part of the asset management and fund advisory business, increased by 4.3% to HK$4.775bn.

Breakdown of th......................

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