UK fund manager Schroders to invest more in Hong Kong as trade war ups demand, CEO says
British asset manager Schroders will continue to expand in Hong Kong to tap Asia-Pacific's fast-growing wealth-management and pension businesses, as its top boss believes market uncertainty brought on by the US-China trade war will increase demand for its services.
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'The tariff issues and trade challenges are going forward, but it would not affect our commitment and investment in Hong Kong, mainland China and Taiwan,' Richard Oldfield, the firm's group chief executive, said in Hong Kong earlier this month.
'When we think about where wealth is growing the fastest, it is in Asia. When we think about ageing populations and the need across the region to prepare for retirement, it is also Asia.'
The city is central to the firm's growth aspirations, he added.
'We are very supportive of the Hong Kong government's initiatives to try and make Hong Kong a really attractive destination for high-net-worth individuals and for family offices,' he said.
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