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Wealth management

Wealth management
Latest news and features on wealth management, with a particular focus on Hong Kong, mainland China and Asia.
last updated:
2 October, 2024
Deloitte Asia-Pacific chairman Dennis Chow says his company has seen an increasing number of inquiries from wealthy families to set up family offices in Hong Kong. Photo: Edmond So
Family offices

Exclusive | For Hong Kong, family offices and IPOs are major growth engines: Deloitte

Hong Kong is particularly appealing to wealthy families from mainland China and Southeast Asia to set up family offices, Dennis Chow says.

Banking & finance

From fireworks to cash, Hong Kong banks vie for mainland new year visitors

Banking & finance

Hong Kong firms use lai see envelopes as marketing tool in digital era

Macau

Exclusive | Macau’s first local mutual fund targets mainland investors via connect scheme

A&P Macau Patacas Money Market Fund will soon be offered to mainlanders in the Greater Bay Area.

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Macau’s first locally registered money market fund will soon be offered to mainland investors via the Wealth Management Connect scheme. Photo: Eugene Lee
Mandatory Provident Fund (MPF)

Year of the Snake: volatility ahead for Hongkongers’ MPF investments

Sterling returns during the Year of the Dragon will be hard to repeat, with US-China trade relations as an X factor, according to experts.

Digital currencies

Hong Kong bitcoin ETFs could open to some mainland investors under new measures

New rules further opening up China’s financial markets could give some mainlanders access to cryptocurrency investment products for the first time.

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Hong Kong stock market

US fund Federated Hermes mulls Hong Kong office to chart Asia growth: CEO

US money manager had US$800.5 billion of assets under management in 2024, including US$3.4 billion in Asia excluding Japan.

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Chris Donahue, chairman, president and CEO of Federated Hermes. Photo: Handout
Banking & finance

HSBC unveils 25-storey tower in Qianhai to drive cross-border collaboration

The bank says it sees ‘huge potential for economic and trade cooperation between Guangdong and Hong Kong’.

Banking & finance

Hong Kong gets 41% more Chinese, foreign firms with record investments

More companies set up their operations in the city last year, taking non-Hong Kong company registrations to record-high.

Insurance

Hong Kong life insurance bonanza driven by local buying; overseas buyers rise

New life insurance sales in the first nine months of 2024 stood at HK$169.6 billion (US$21.8 billion), the highest since the authority set up in 2016.

Insurance sales agents approach mainland tourists in Canton Road, Tsim Sha Tsui on 20 February 2024. Photo: Eugene Lee
Banking & finance

Hong Kong gets a boost as 3 global hedge funds open offices, recruit staff

Hudson Bay Capital, Sona Asset Management and Centiva Capital are setting up shop in the city, according to sources.

Hong Kong is rolling out the red carpet for financial firms to set up offices in the city. Photo: Nora Tam
Hong Kong economy

Letters | How to get more growth from Hong Kong’s investment residency scheme

Readers discuss mandatory capital allocations, lung cancer treatment, the HK$2 fare for seniors, and the authenticity of products.

Family offices

Low taxes, currency peg are keys to lure more family offices, investors say

To avoid reducing its appeal for wealthy families, Hong Kong will need to look at ways other than higher taxes to trim budget shortfalls, Bonds Group says.

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Banking & finance

Cross-border retirement plans could give Hongkongers cheaper healthcare: experts

Hong Kong has an ageing population, a low birth rate and many retirees are financially unprepared for the future, experts say.

A panel discussion at the Asian Financial Forum with, from left to right, Prudential Hong Kong CEO Lawrence Lam, General Re’s Orchis Li, HKU’s director of the Asia Global Institute Tang Heiwei and Wilson Tang of BOC Group Life Assurance. Photo: Jonathan Wong
Banking & finance

How to talk to your family about inheritance – 3 essential tips

It may be an awkward conversation but a crucial one so that conflict can be avoided, your heirs’ expectations aligned, and well-being boosted.

Communication with your heirs is paramount when it comes to family inheritances. Photo: Shutterstock
John Lee

Hong Kong to power growth by boosting strengths, gold trading: John Lee

City leader also says Hong Kong will enhance global ties to bring in more investment.

Banking & finance

Singapore fund Paragon opens Hong Kong office to reach more wealthy clients

Fund manager sees Hong Kong as an ideal wealth management hub to reach more wealthy clients in the Greater China region.

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Hong Kong economy

Hong Kong to ease asset requirements in cash-for-residency scheme

Changes also aimed at bolstering city’s status as family office hub, but questions remain over whether Hong Kong can lure business away from Singapore.

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Hong Kong is seeking to become a hub for family offices. Photo: K. Y. Cheng
Mandatory Provident Fund (MPF)

Hong Kong’s 2024 pension gained 13% at best pace in 4 years

The increase of HK$102.4 billion (US$13 billion) works out to HK$21,500 per member, says MPF Ratings.

SFC

Funds eye more inflows after Beijing’s changes to mutual fund recognition plan

Changes to the Mutual Fund Recognition will expand the scale of products for investors, thus reinvigorating the scheme: HKIFA.

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Family offices

Family offices to favour Taiwan, India and US in 2025; may boost China exposure

UBS says wealthy clients have their eyes on China markets due to stimulus measures.

People crossed the street in Taipei. Photo: EPA-EFE
Family offices

Bankers say new tax concessions to boost Hong Kong’s status as family office hub

UBS, JPMorgan and BNP Paribas among key players seeking to attract family offices.

Hong Kong is a good base for family offices because of its proximity to mainland China, according to analysts. Photo: Nora Tam
Hong Kong economy

Editorial | Hong Kong should aim to attract wealth from around the world

Examples such as Zhang Yiming show Hong Kong is a magnet for wealthy entrepreneurs to set up family offices and asset management firms.

Banking & finance

Hong Kong employers seek more relationship managers and data analysts next year

Human resource professionals also say customer due diligence officers are in demand.

Mergers & Acquisitions

MetLife to buy Hong Kong tycoon Richard Li’s PineBridge in asset management push

New York-based insurer’s arm will pay US$800 million for PineBridge, which manages about US$100 billion in assets.

The asset management arm of US insurer MetLife has agreed to buy PineBridge Investments. Photo: Reuters
Banking & finance

Chinese money fuels hiring spree among private banks in Hong Kong

Wealth managers like UBS, Bank of Singapore and Julius Baer are expanding teams to cater to surging mainland Chinese money.

Private wealth managers are on a hiring spree in Hong Kong to cater to wealthy mainland Chinese clients. Photo: Sam Tsang
HKEX

HKEX launches fund platform to boost Hong Kong’s appeal as wealth hub

The first phase of the integrated fund platform launched on Friday provides information on more than 2,000 retail funds.

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India

Surging wealth of India’s billionaires raises concerns about rising inequality

The wealth of billionaires in India has risen to US$905 billion, according to a report by UBS, outpacing the country’s economic growth.

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