Assets under management held by Hong Kong private wealth managers increased 0.6% to HK$9.022 trillion in 2023, according to a report by the city's Private Wealth Management Association and KPMG released Friday.
AUMs for the year are lower compared with the HK$11.3 trillion recorded in 2020, the report said.
Inflows surged to HK$341 billion from HK$121 billion in 2022, according to the report.
Around one-third, or 67% of the firms' AUMs come from Hong Kong and mainland China combined, with artificial intelligence, biotechnology, and healthcare innovation as top client investment preferences, according to the report.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments