Hong Kong’s fund management business hits record HK$12.6 trillion

Overseas investors took 65% of assets under management.

Hong Kong’s fund management business grew 39% in 2012 to HK$12.6 trillion while overseas investors accounted for about HK$8 trillion of assets under management, excluding real estate investment trusts.

The Securities and Futures Commission said this significant growth reflected more active engagement in Hong Kong’s fund management business by mainland-related licensed firms through the launch of a range of renminbi investment products and the provision of more advisory service.

The number of licensed firms participating in the SFC’s annual fund management survey rose 19% to 485, accounting for some of the growth.

The number of licensed corporations and individuals grew by 5.9% and 8%, respectively, to 892 and 6,677. The fund management business fell 10% to HK$9 trillion in 2011.

Non-REIT fund management business attributable to Mainland China-related firms grew 56% to HK$415 billion, said SFC.