Hong Kong

Hong Kong’s asset and wealth management business remained resilient in 2021

A survey published by the Securities and Futures Commission (SFC) found that the asset and wealth management business in Hong Kong recorded a 2% year-on-year increase in assets under management (AUM) to HKD35,546 billion (USHKD4,558 billion) as at the end of 2021. Net fund inflows during the year reached HKD2,152 billion (USHKD277 billion), up 6% from 2020. The AUM of the asset management and fund advisory business conducted by licensed corporations and registered institutions increased 8% to HKD25,888 billion (USHKD3,320 billion).

 

“The survey findings underscore the core strengths of the asset and wealth management industry in the fast-changing, challenging environment,” said Ms Christina Choi, the SFC’s Executive Director of Investment Products. “The SFC will continue to support the development of Hong Kong as a premier global asset and wealth management centre and preferred fund domicile.”

Other highlights of the survey include:

  • Assets held under trusts increased 5% to HKD4,719 billion (USHKD605 billion).
  • The AUM of the private banking and private wealth management business decreased 6% to HKD10,583 billion (USHKD1,357 billion). Respondents reported that the decrease was mainly due to changes in the values of underlying investments held by clients.
  • Non-Hong Kong investors remained a major source of funding for the asset and wealth management business, accounting for 65% of AUM.
  • The total number of staff in the asset and wealth management business increased 12% to 54,003.