Hong Kong wealth, fund assets hit HK$35.1 trillion as inflows surge
It is a stark reversal from the Covid period, when the city was grappling with an exodus of people and mainland money was moving to Singapore
[HONG KONG] Hong Kong’s assets under management across its asset and wealth management industry rose 13 per cent to HK$35.1 trillion (S$5.7 trillion) as inflows surged last year, underscoring a recovery in the Asian financial hub.
Net fund inflows jumped 81 per cent to HK$705 billion across the industry in 2024, according to a survey conducted by the Securities and Futures Commission. In particular, inflows for the asset management and fund advisory business soared 571 per cent to HK$321 billion.
Assets for private banking and wealth rose 15 per cent to HK$10.4 trillion, boosted by net inflows of HK$384 billion. For the city, it is a stark reversal from the Covid period, when Hong Kong was grappling with an exodus of people and mainland money was moving to Singapore.
Hong Kong has been stepping up efforts to attract wealthy with tax concessions and residency plans. The city’s equity benchmark is trading near its highest level in over three years, boosted by increased optimism towards technology stocks and strong demand from mainland investors.
“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, the SFC’s Executive Director of Investment Products.
Hong Kong-domiciled funds authorised by the SFC recorded net fund inflows of HK$163 billion in 2024, followed by HK$237 billion in the first five months of 2025.
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This year, 1,237 firms took part in the SFC’s annual survey, including asset managers, private banks and insurance companies. BLOOMBERG
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