Broadly speaking, the asset and wealth management sector covers a wide variety of financial advisory and management services which include asset management, investment and portfolio management, real estate planning, tax planning, investment advisory services and financial planning.
Hong Kong is always committed to maintaining its status as a leading international fund management centre. Its asset and wealth management business reached HK$28,769 billion as of the end of 2019.
Asset management and fund advisory business is regarded as one of the most important parts of the fund management industry, with assets amounting to HK$20,040 billion by 2019.
Huge rise in demand for asset management is actually a megatrend. According to a PricewaterhouseCoopers report, APAC assets under management is expected to grow faster than any other region globally, rising from US$15.1 trillion in 2017 to US$29.6 trillion in 2025. Driven by the significant growth presented by the Belt and Road and other initiatives across the region, Asia is believed to be one of the largest infrastructure investment regions around the globe.
To capture the fast-growing wealth in the region, the number of employees engaged in asset and wealth management business was 43,631 as of 31 December 2019, recording a year-on-year increase of 2%.
For more details about the Asset and Wealth Management Sector, please visit the website of The Securities and Futures Commission: https://www.sfc.hk/