Hong Kong's asset management industry hits near-record US$4.5 trillion on massive inflows
Assets under management in the city grew almost HK$4 trillion in 2024, or 13 per cent from a year earlier, the Securities and Futures Commission said in an annual survey published on Wednesday, thanks to an 81 per cent surge in net fund inflows of HK$705 billion, it added. The record of HK$35.55 trillion was set in 2021.
Inflows for the asset management and fund advisory business soared 571 per cent to HK$321 billion, while the private banking and private wealth management business recorded a 15 per cent increase in assets under management to HK$10.4 trillion, the survey showed.
'Hong Kong is gaining more clout than ever as a leading international hub for asset and wealth management, propelled by strong fund inflows, financial innovation and a growing talent pool,' said Christina Choi, executive director of investment products at the SFC.
Hong Kong is gaining more clout than ever as a global hub for asset and wealth management, the Securities and Futures Commission says. Photo: Shutterstock Images
The inflows preceded a robust year for investors in Hong Kong's financial markets. The Hang Seng Index has rallied 25 per cent so far this year to rank among the world's best-performing stock benchmarks. A stock market re-rating fuelled risk appetite and boosted demand for initial public offerings (IPOs), helping the city rise to the top of the global league table, according to industry data.
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