The financial meltdown of the family office has highlighted a need for greater risk control and a more cautious approach to portfolio diversification among its peers.
Some of the country's family offices are aiming to build larger positions in unlisted investments in order to take advantage of its maturing alternative asset sector.
Economic developments in Asia present investment opportunities and current high valuations may be "an accident waiting to happen", say investors.
Investment experts were not surprised by chief executive Carrie Lam's policy address focus on China-focused wealth management, but some feel the goal to expand Reits is promising.
Hong Kong's lack of stability is causing it to lose out to Singapore in the competition to manage and administer private family investments.
The enthusiasm of executives at the managers for private debt is increasing, albeit carefully, amid the pandemic due to its returns profile and shorter lock-up period versus private equity.