The sixth annual Hong Kong Private Wealth Management report provides an in-depth view into the current landscape and how the industry continues to manage ongoing challenges. The report also examines growth opportunities and trends along important themes of technology, regulation and talent.
The report is largely based on an online survey of Private Wealth Management Association member institutions – of which 33 of the 42 member firms responded – and a survey of more than 280 clients, as well as interviews with industry executives, regulators and other industry stakeholders in Hong Kong.
The findings show that Hong Kong’s private wealth management industry continues to grow at a healthy pace, despite ongoing challenges. Assets under management have grown significantly year on year – driven by both robust growth in net new money and market return – while the industry has managed to maintain its level of service to clients throughout Covid-19. Client investment appetite is also expanding and there is an increasing interest in ESG and sustainable investing, virtual assets, and ‘new economy’ sectors.