News
SFC - Asset and Wealth Management Activities Survey 2019
27 Aug 2020To: Members of the HK Trustees' Association Ltd
Message from the Securities and Futures Commission (SFC)
I would like to thank HKTA for the support in the past year. A copy of the Asset and Wealth Management Activities Survey (AWMAS) for the year ended 2019 can be found on the SFC’s website at: https://www.sfc.hk/web/EN/files/ER/Reports/AWMAS_2019_EN.pdf
According to the survey’s findings, the assets under management (AUM) of the asset and wealth management business in Hong Kong increased by 20% year-on-year to $28,769 billion (US$3,694 billion) as at 31 December 2019.
Highlights of the survey include:
· Net fund inflows of $1,668 billion (US$214 billion) were recorded for the asset and wealth management business during 2019.
· The AUM of the asset management and fund advisory businesses conducted by licensed corporations and registered institutions increased by 22% year-on-year to $20,040 billion (US$2,574 billion).
· The AUM of the private banking and private wealth management business grew by 19% year-on-year to $9,058 billion (US$1,163 billion).
· Assets held under trusts increased by 11% to $3,844 billion (US$494 billion).
· The number of licensed corporations licensed carrying out asset management (Type 9 regulated activity) in Hong Kong increased by 10% to 1,808.
· The total number of staff in the asset and wealth management business was 45,132, with an increasing proportion directly engaged in asset management and related support functions.
During the first half of 2020, Hong Kong’s financial markets remained resilient despite challenging circumstances:
· After experiencing net fund outflows in the first quarter in line with global market dislocation and a “flight to safety” arising from the COVID-19 outbreak, Hong Kong-domiciled public funds rebounded in the second quarter with net fund inflows of $27 billion (US$3.5 billion).
· The Hong Kong stock and futures markets have been active, with average daily turnover increasing 20% year-on-year to $117.5 billion (US$15.2 billion).
· The initial public offering market has continued to thrive, with $92.8 billion (US$12 billion) raised during the first half of 2020.
We will continue to pursue initiatives to further develop Hong Kong as a premier global asset and wealth management centre.
If you have any queries or would like to discuss the report in detail, please do not hesitate to contact SFC - Ms. Karen Lau at [email protected] or (852) 2231 1389.
Yours sincerely,
Executive Committee
HK Trustees' Association Ltd
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