Opalesque Industry Update - A survey published today by the Securities and Futures Commission (SFC) found that the asset and wealth management business in Hong Kong recorded a 21% year-on-year increase in assets under management (AUM) to $34,931 billion (US$4,505 billion) as at the end of 2020. The AUM of the asset management and fund advisory business conducted by licensed corporations and registered institutions increased 20% to $24,038 billion and the AUM of the private banking and private wealth management business grew 25% to $11,316 billion. "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," said Ms Christina Choi, the SFC's Executive Director of Investment Products. "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." Other highlights of the survey include: - Net fund inflows of $2,035 billion (US$262 billion) were recorded for the asset and wealth management business during 2020, accounting for 33% of the year-on-year increase in AUM. Assets held under trusts increased 17% to $4,480 billion (US$578 billion). - 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.
Press release
Article source - Opalesque is not responsible for the content of external internet sites |
Industry Updates
Asset and wealth management business in Hong Kong recorded 21% year-on-year increase in AuM
Thursday, July 22, 2021
|
|