Hong Kong assets under management hits $4.5 trillion after 21% growth
The city's booming asset management industry is boosted by rising interest from family offices, the Wealth Connect scheme and a growing retail investor base.
Hong Kong recorded a 21% year-on-year increase in assets under management (AUM) to reach HK$34.9 trillion ($4.5 trillion) as of the end of 2020, according to a survey published last Thursday (July 22) by Hong Kong’s Securities and Futures Commission (SFC).
The city, which has more than 48,000 staff working for the booming industry, is seeing strong inflows despite political tensions and obstacles to economic recovery such as the Covid-19 pandemic. Net fund inflows of $2 trillion (…
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