Hong Kong moves to regulate perks paid by funds to bank advisers

Hong Kong

IF you're a fund manager, you probably wish there was a place you could go where the passive investing craze never caught on, and clients still shelled out handsomely for stock picking. That place is Hong Kong.

Hong Kong, where passive investments are little more than sidekicks, amassing the equivalent of 5 per cent of active funds. Hong Kong, where customers are loyal to active managers even though they do no better here than anywhere else, with about three-quarters of such funds losing to benchmarks.