Hong Kong retail funds hit record pace, surpass 2024 full-year total

Gross sales reach US$82.6 billion in the first three quarters as investors pile into fixed-income funds: HKIFA

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There is renewed investor confidence in Hong Kong’s retail fund market, analysts say. Photo: Dickson Lee

Published: 5:49pm, 26 Nov 2025Updated: 6:21pm, 26 Nov 2025

Hong Kong retail funds booked gross sales of US$82.6 billion in the first three quarters of this year – surpassing the full-year total for 2024 – as inflows into fixed-income products surged, according to data from the Hong Kong Investment Funds Association (HKIFA).

Gross sales jumped 35 per cent year on year. Net sales reached US$15.7 billion year to date, the highest level in the past decade and 44 per cent higher than a year earlier, exceeding the US$12.3 billion of net inflows recorded for all of 2024.

“With record-breaking net inflows and impressive sales momentum so far in 2025, Hong Kong’s retail fund market is showing renewed investor confidence, underpinned by strong global market performance, especially in Asia and Europe,” said Nelson Chow, co-chair of the HKIFA Unit Trust Subcommittee, in a statement on Wednesday.

Fixed-income funds remained the dominant driver, attracting US$10.8 billion in net inflows during the first three quarters. Mixed-asset funds drew US$1.7 billion, reversing last year’s outflow trend.

Hong Kong retail funds booked gross sales of US$82.6 billion in the first three quarters – surpassing the full-year total for 2024. Photo: Sam Tsang

Money market funds, long favoured by investors seeking safe-haven and income-generating assets, attracted US$2.9 billion. However, they recorded net outflows for the first time since August, following consecutive monthly inflows since early 2024.

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