Hong Kong’s asset and wealth management business fared on par with global markets in 2022

The Securities and Futures Commission of Hong Kong (SFC) has published the results of its recent annual survey on Private Wealth Management. As the survey of 1,162 firms – including asset management and investment fund advisory firms – reveals, the industry as a whole contracted in 2022 as did the entire global asset management industry. In fact, overall assets under management (AuM) have decreased by over 14% (globally by 15%) and net fund inflows for the asset and wealth management business dropped to $88 billion (US$11 billion) during the year from a previous record of $2,152 billion (US$277 billion) in 2021. The survey also shows that foreign investors still account for the vast majority of all assets under management, namely for 64%. A picture depicting the key findings is illustrated below. A more detailed analysis may be found in the report.
Graphic 1: Survey Results