Hong Kong, Asia's leading financial centre
Caproasia.com | The leading source of data, research, information & resource for financial professionals, investment managers, professional investors, family offices & advisors to institutions, billionaires, UHNWs & HNWs. Covering capital markets, investments and private wealth in Asia. How do you invest $3 million to $300 million? How do you manage $20 million to $3 billion of assets? Caproasia - Learn more



This site is for accredited investors, professional investors, investment managers and financial professionals only. You should have assets around $3 million to $300 million or managing $20 million to $3 billion.










Hong Kong SFC 2020 Report: Asset and Wealth Management in Hong Kong

The Hong Kong Securities and Futures Commission (SFC) has released the 2020 Report on Asset and Wealth Management Activities in Hong Kong in July 2021.  What is the total AUM in Hong Kong in 2020?  How is the Asset Management, Private Banking and Private Wealth Management industry doing?  Where are the clients from?  How are the assets allocated?

Below is the full summary of the report:

Overview

In 2020, the total Asset & Wealth Management AUM in Hong Kong is at $4.49 trillion (HKD 34.931 trillion), growing 25% Year-on-Year (YOY).  942 firms reported conducting asset management, fund advisory, private banking and private wealth management business or trust services in Hong Kong.  The total headcount in asset and wealth management is 48,006.  60% are in sales & marketing and 40% are in asset management & related support functions. (AUM ~ Assets under Management)



- Article continues below -



Sign Up
Basic Member: $5 Monthly | $60 Yearly
Newsletter Daily 2 pm (Promo): $20 Monthly | $180 Yearly (FP: $680)


The 2024 Investment Day
6th March Hong Kong | 13th March Singapore

Private Equity, Hedge Funds, Boutique Funds, Private Markets & more. Taking place on 6th March 2024 in Hong Kong, 13th March 2024 in Singapore.
Visit | Register here


The 2024 Family Office Summit
10th April Hong Kong | 24th April Singapore

Join 100+ single family offices & family office professionals in Hong Kong & Singapore
Links: 2024 Family Office Summit | Register here





The Private Banking & Private Wealth Management AUM is at $1.46 trillion (HKD 11.316 trillion, +25% YOY) and Asset Management & Fund Advisory AUM is at $3.09 trillion (HKD 24.038 trillion, +20% YOY).  Assets under Trust AUM is at $576 billion (HKD 4.480 trillion, +17% YOY)

Key Summary:
  • Asset and Wealth Mgmt AUM: $4.49 trillion (HKD 34.93 trillion) +21% YOY
  • Private Banking & Private Wealth Mgmt AUM: $1.46 trillion (HKD 11.31 trillion) +25% YOY
  • Asset Management and Fund Advisory AUM: $3.09 trillion (HKD 24.03 trillion) +20% YOY
  • Assets under Trust AUM: $576 billion (HKD 4.48 trillion) +17% YOY
  • No. of Headcount in Asset and Wealth Management: 48,006
  • Hong Kong Investors contributed to 36% of AUM ($4.49 trillion)
  • Non-Hong Kong Investors contributed to 64% of AUM ($4.49 trillion)

More

  • No. of Headcount in Asset and Wealth Management: 48,006
  • No. of firms: 942 (2019: 818)
  • Licensed corporations: 830  (2019: 704)
  • Registered institutions: 47 (2019: 46)
  • Insurance companies: 39 (2019: 41)
  • Trustees: 26 (2019: 27)

 

Private Banking & Private Wealth Mgmt:
  • AUM: $1.46 trillion (HKD 11.31 trillion) +25% YOY
  • Professional Investors: 96% ($1.4 trillion)
  • Non-Professional / Retail Investors: 4% ($58.4 billion)
  • Corporations / financial institutions / funds: 44% ($643 billion, HKD 5.01 trillion)
  • Individuals: 25% ($368 billion, HKD 2.86 trillion)
  • Family offices and private trusts: 18% ($262 billion, HKD 2.03 trillion)
  • Institutional / Corporates / Others: 8% ($104 billion, HKD 813 billion)
  • Charities: 1% ($14.4 billion, HKD 112 billion)

 

Asset Management and Fund Advisory:
  • AUM: $3.09 trillion (HKD 24.03 trillion) +20% YOY
  • Professional Investors: 72% ($2.2 trillion, HKD 17.1 trillion)
  • Non-Professional / Retail Investors: 28% ($857 billion, HKD 6.66 trillion)
  • Corporations / financial institutions / funds: 47% ($1.43 trillion, HKD 11.1 trillion)
  • Governments / sovereign wealth / central banks: 12% ($367 billion, HKD 2.85 trillion)
  • Institutional / Corporates / Others: 5% ($153 billion, HKD 1.19 trillion)
  • Individuals: 5% ($153 billion, HKD 1.19 trillion)
  • Family offices and private trusts: 2% ($61.2 billion, HKD 476 billion)
  • Charities: 1% ($30.6 billion, HKD 238 billion)

 

Registered institution is an authorized financial institution (typically banks) which conducts regulated activity under the Hong Kong Securities and Futures Ordinance (SFO).  Licensed corporation, that is not an authorized financial institution, is granted a licence to conduct regulated activities under the Hong Kong Securities and Futures Ordinance (SFO).  The Hong Kong Securities and Futures Ordinance (SFO) regulates the Hong Kong securities and futures industry.

Exchange Rate: USDHKD 7.77, YOY ~ Year-on-Year

 


#1 Asset & Wealth Management Sector: $4.49 Trillion AUM

Hong Kong, Asia’s leading financial centre

In 2020, the total Asset & Wealth Management AUM is at $4.49 trillion (HKD 34.93 trillion), growing 25% Year-on-Year (YOY).  Hong Kong Investors contributed to 36% of AUM and non-Hong Kong Investors contributed to 64% of AUM.  942 firms reported conducting asset management, fund advisory, private banking and private wealth management business or trust services. (Assets under Management).

In 2020, the total headcount in asset and wealth management is 48,006.  60% are in sales & marketing and 40% are in asset management & related support functions.

 

A) Asset & Wealth Management Source of AUM: $4.32 trillion (HKD 33.59 trillion)^
  • Hong Kong Investors: 36%
  • Mainland China: 10%
  • Asia-Pacific (ex-China): 13%
  • North America: 22%
  • Europe: 11%
  • Others: 8%

Hong Kong Investors contributed to 36% of AUM and non-Hong Kong Investors contributed to 64% of AUM.  (^Exclude REITs and assets held under trusts attributable to non-Licensed corporations and non-Registered institutions.)

 

B) No. of Firms: 942

In 2020, 942 firms reported conducting asset management, fund advisory, private banking and private wealth management business or trust services. (Assets under Management).  These included 830 (2019: 704) licensed corporations, 47 (2019: 46) registered institutions, 39 (2019: 41) insurance companies and 26 (2019: 27) trustees. 

  • No. of firms: 942 (2019: 818) 
  • Licensed corporations: 830  (2019: 704)
  • Registered institutions: 47 (2019: 46)
  • Insurance companies: 39 (2019: 41)
  • Trustees: 26 (2019: 27)

In 2020, the total headcount in asset and wealth management is 48,006.  60% are in sales & marketing and 40% are in asset management & related support functions.

  • Total headcount in asset and wealth management: 48,006
  • Sales & marketing: 60%
  • Asset management & related support functions: 40% 

 

#2 Private Banking & Private Wealth Management Sector: $1.46 Trillion AUM

UBS office in Kowloon, Hong Kong

In 2020, the total Private Banking & Private Wealth Management AUM is at $1.46 trillion (HKD11.316 trillion), growing 25% Year-on-Year (YOY). Hong Kong clients contributed to 48% of AUM and non-Hong Kong clients contributed to 52% of AUM.  96% ($1.4 trillion) of Private Bank & Private Wealth AUM came from Professionals Investors.  4% ($58.4 billion) came from Non-Professional / Retail Investors.

In 2020, the total number of staff engaged in the private banking and private wealth management business was 8,084, of which 2,819 were Private Wealth Management Relevant Practitioners.

  • Private Banking & Private Wealth Mgmt AUM: $1.46 trillion (HKD 11.31 trillion) +25%
  • Registered Institutions (Private Bank, Private Wealth): 77% ($8.689 trillion)
  • Licensed Corporation (Private Bank, Private Wealth): 10% $1.105 trillion
  • Registered Institutions (Asset Management): 11% $1.296 trillion
  • Licensed Corporation (Asset Management): 2% $226 billion

 

A) Private Bank & Private Wealth Source of $1.46 trillion AUM by Region:
  • Hong Kong: 48%
  • China: 16%
  • APAC (Excludes China): 17%
  • Europe: 5%
  • North America: 4%
  • Others: 10%

Hong Kong clients contributed to 48% of AUM and non-Hong Kong clients contributed to 52% of AUM.

 

B) Private Bank & Private Wealth Client Type:
  • Professional Investors: 96% ($1.4 trillion)
  • Non-Professional / Retail Investors: 4% ($58.4 billion)

In 2020, 96% ($1.4 trillion) of Private Bank & Private Wealth AUM came from Professionals Investors.  4% ($58.4 billion) came from Non-Professional / Retail Investors.

 

C) Professional Investors Breakdown: 96% ($1.4 trillion)
  • Corporations / financial institutions / funds: 44% ($643 billion, HKD 5.01 trillion)
  • Individuals: 25% ($368 billion, HKD 2.86 trillion)
  • Family offices and private trusts: 18% ($262 billion, HKD 2.03 trillion)
  • Institutional / Corporates / Others: 8% ($104 billion, HKD 813 billion)
  • Charities: 1% ($14.4 billion, HKD 112 billion)

 

D) Asset Allocation – $1.46 trillion:
  • Listed Equities: $716 billion (HKD 5.57 trillion)
  • Cash & Deposits: $193 billion (HKD 1.50 trillion)
  • Private Funds: $160 billion (HKD 1.24 trillion)
  • Bonds: $129 billion (HKD 1 trillion)
  • Public Funds: $98.1 billion (HKD 763 billion)
  • Managed Accounts: $48.2 billion (HKD 375 billion)
  • Others: $109 billion (HKD 853 billion)

 

E) Geographic Allocation of Assets – $1.46 trillion:
  • Hong Kong: 34% ($490 billion, HKD 3.81 trillion)
  • Mainland China: $10% ($151 billion, HKD 1.17 trillion)
  • North America: 25% ($359 billion, HKD 2.79 trillion)
  • Europe: 13% $187 billion (HKD 1.45 trillion)
  • APAC (Excludes China): 7% ($102 billion, HKD 797 billion)
  • Japan: 1% ($21.7 billion, HKD 169 billion)
  • Others: 10% ($142 billion, $1.10 trillion)

 

F) Total headcount in Private Banking & Private Wealth Mgmt: 8,084 

In 2020, the total number of staff engaged in the private banking and private wealth management business was 8,084, of which 2,819 were Private Wealth Management Relevant Practitioners.

  • 8,084, of which 2,819 were Private Wealth Management Relevant Practitioners

 

#3 Asset Management and Fund Advisory: $3.09 trillion AUM

Hong Kong Exchange

In 2020, the total Asset Management and Fund Advisory AUM is at $3.09 trillion (HKD 24.03 trillion), growing 20% Year-on-Year (YOY).  There are 1,878 licensed corporations and 13,074 licensed individuals in Asset Management.

72% of AUM are from Professional Investors ($2.2 trillion, HKD 17.1 trillion) and 28% are from Non-Professional / Retail Investors.

The asset management and fund advisory business carried out by licensed corporations, registered institutions and insurance companies.  Fund advisory business mainly comprises institutional fund advisory services provided from Hong Kong by fund managers to overseas management firms.

  • Licensed Corporations – Asset Management: $2.42 billion (HKD 18.8 trillion, 79%)
  • Licensed Corporations – Fund Advisory: $285 billion (HKD 2.22 trillion, 9%)
  • Registered Institution – Asset Management: $198 billion (HKD 1.54 trillion, 6%)
  • Insurance Companies – Asset Management: $150 billion (HKD 1.171 trillion, 5%)
  • Licensed Corporations – REITS: $30.6 billion (HKD 238 billion, 1%)
  • No. Of Licensed Corporations – Asset Management: 1,878
  • No. Of Licensed Individuals – Asset Management: 13,074

 

A) Asset Management & Fund Advisory Client Breakdown $3.09 trillion AUM:
  • Professional Investors: 72% ($2.2 trillion, HKD 17.1 trillion)
  • Non-Professional / Retail Investors: 28% ($857 billion, HKD 6.66 trillion)

 

B) Professional Investors Breakdown – $2.2 trillion (72%):
  • Corporations / financial institutions / funds: 47% ($1.43 trillion, HKD 11.1 trillion)
  • Governments / sovereign wealth / central banks: 12% ($367 billion, HKD 2.85 trillion)
  • Institutional / Corporates / Others: 5% ($153 billion, HKD 1.19 trillion)
  • Individuals: 5% ($153 billion, HKD 1.19 trillion)
  • Family offices and private trusts: 2% ($61.2 billion, HKD 476 billion)
  • Charities: 1% ($30.6 billion, HKD 238 billion)

 

C) Asset Management and Fund Advisory Product Breakdown:
  • Public Funds: 38% ($1.16 trillion, HKD 9.04 trillion)
  • Managed Accounts: 31% ($948 billion, HKD 7.37 trillion)
  • Private Funds: 16% ($489 billion, HKD 3.8 trillion)
  • Pension Funds (Includes MPF, ORSO): 7% ($214 billion, HKD 1.66 trillion)
  • Others: 8% ($244 billion, HKD 1.9 trillion)

MPF ~ Mandatory Provident Fund is Hong Kong retirement fund  
ORSO ~ Occupational Retirement Schemes Ordinance is a voluntary retirement scheme in Hong Kong  by an employer to its employees regardless of where the company is established or where the employee is based. 

 

D) Location of Management of $2.77 trillion AUM (HKD 21.5 trillion) ^
  • Managed in Hong Kong: 58% ($1.57 trillion, HKD 12.4 trillion)
  • Delegated to other Offices: 42% ($1.17 trillion, HKD 9.16 trillion)

^ Excludes fund advisory business and REITs. 

 

E) Geographic Allocation of Assets Managed in Hong Kong ($1.57 trillion, HKD 12.4 trillion): 
  • Hong Kong: 25% ($406 billion, HKD 3.15 trillion)
  • Mainland China: 21% ($337 billion, HKD 2.62 trillion)
  • North America: 17% ($270 billion, HKD 2.1 trillion)
  • APAC (Ex-China): 13% ($210 billion, HKD 1.63 trillion)
  • Europe: 13% ($204 billion, HKD 1.59 trillion)
  • Japan: 5% ($75.5 billion, HKD 587 billion)
  • Others: 6% ($92.8 billion, HKD 722 billion)

 

F) Asset Allocation of Assets Managed in Hong Kong ($1.57 trillion, HKD 12.4 trillion):
  • Equities: 54% ($858 billion, $6.67 trillion)
  • Bonds: 30% ($471 billion, HKD 3.66 trillion)
  • Collective Investment Scheme: 8% ($134 billion, HKD 1.04 trillion)
  • Cash & Money Markets: 4% ($69.5 billion, HKD 541 billion)
  • Others: 4% ($63.2 billion, HKD 492 billion)

 

#4 Assets under Trust: $576 billion AUM 

Hong Kong, Asia’s leading financial centre

In 2020, the Assets held under Trust AUM in Hong Kong is at $576 billion (HKD 4.48 trillion), growing 17% Year-on-Year (YOY).

A) Assets under Trust by Client Type:
  • Public funds: 30% ($170 billion, HKD 1.32 trillion)
  • Pension funds (including MPF and ORSO): 37% ($212 billion, HKD $1.64 trillion)
    Others (including family offices and private trusts, charities, and other corporates): 27% ($160 billion, $1.24 trillion)
  • Governments / sovereign wealth / central banks: 6% ($33.5 billion, $261 billion)

 

B) Investment Allocation by Region:
  • Hong Kong 34% ($196 billion, HKD 1.52 trillion)
  • North America: 29% ($166 billion, HKD 1.29 trillion)
  • Mainland China: 17% ($96.9 billion, HKD 754 billion)
  • Europe: 7% ($39.7 billion, HKD 309 billion)
  • APAC (Excludes China): 5% ($32.8 billion, HKD 255 billion)
  • Japan: 2% ($10.9 billion, HKD 85 billion)
  • Others: 6% ($32.6 billion, HKD 254 billion)

 

View the full report by The Hong Kong Securities and Futures Commission (SFC): 2020 Report on Asset and Wealth Management Activities in Hong Kong

 


About Securities and Futures Commission (HK)Hong Kong Securities Futures Commission Logo

The Securities and Futures Commission (SFC) is an independent statutory body set up in 1989 to regulate Hong Kong’s securities and futures markets.

We derive our investigative, remedial and disciplinary powers from the Securities and Futures Ordinance (SFO) and subsidiary legislation. Operationally independent of the Government of the Hong Kong Special Administrative Region, we are funded mainly by transaction levies and licensing fees.

Visit: Hong Kong Securities and Futures Commission




Managing $20 million to $3 billion. Investing $3 million to $300 million.
For Investment Managers, Hedge Funds, Boutique Funds, Private Equity, Venture Capital, Professional Investors, Family Offices, Private Bankers & Advisors, sign up today. Subscribe to Caproasia and receive the latest news, data, insights & reports, events & programs daily at 2 pm.

Join Events & Find Services
Join Investments, Private Wealth, Family Office events in Hong Kong, Singapore, Asia-wide. Find hard-to-find $3 million to $300 million financial & investment services at The Financial Centre | TFC. Find financial, investment, private wealth, family office, real estate, luxury investments, citizenship, law firms & more.  List hard-to-find financial & private wealth services.

Have a product launch? Promote a product or service? List your service at The Financial Centre | TFC. Join interviews & editorial and be featured on Caproasia.com or join Investments, Private Wealth, Family Office events. Contact us at [email protected] or [email protected]

Caproasia.com | The leading source of data, research, information & resource for financial professionals, investment managers, professional investors, family offices & advisors to institutions, billionaires, UHNWs & HNWs. Covering capital markets, investments and private wealth in Asia. How do you invest $3 million to $300 million? How do you manage $20 million to $3 billion of assets?



Quick Links


2021 Data Release
2020 List of Private Banks in Hong Kong
2020 List of Private Banks in Singapore
2020 Top 10 Largest Family Office
2020 Top 10 Largest Multi-Family Offices
2020 Report: Hong Kong Private Banks & Asset Mgmt - $4.49 Trillion
2020 Report: Singapore Asset Mgmt - $3.48 Trillion AUM


For Investors | Professionals | Executives
Latest data, reports, insights, news, events & programs
Everyday at 2 pm
Direct to your inbox
Save 2 to 8 hours per week. Organised for success

Register Below

For CEOs, Heads, Senior Management, Market Heads, Desk Heads, Financial Professionals, Investment Managers, Asset Managers, Fund Managers, Hedge Funds, Boutique Funds, Analysts, Advisors, Wealth Managers, Private Bankers, Family Offices, Investment Bankers, Private Equity, Institutional Investors, Professional Investors

Get Ahead in 60 Seconds. Join 10,000 +
Save 2 to 8 hours weekly. Organised for Success.

Sign Up / Register


    InvestorProfessionalFamily OfficeExecutive


    SubscriptionMembershipEvents


    Professional InvestorPrivate WealthFamily OfficePrivate BankingWealth ManagementInvestmentsAlternativesPrivate MarketsCapital MarketsESG & SICEO & EntrepreneursTax, Legal & RisksHNW & UHNWs Insights










    Web links may be disabled on mobile for security.
    Please click on desktop.










    Caproasia Users

    • Manage $20 million to $3 billion of assets
    • Invest $3 million to $300 million
    • Advise institutions, billionaires, UHNWs & HNWs

    Caproasia Platforms | 11,000 Investors & Advisors

    Monthly Roundtable & Networking

    Family Office Programs

    The 2024 Investment Day

    • March 2024 - Hong Kong
    • March 2024 - Singapore
    • June 2024 - Hong Kong
    • June 2024 - Singapore
    • Sept 2024 - Hong Kong
    • Sept 2024 - Singapore
    • Visit: The Investment Day | Register: Click here

    Caproasia Summits

    Contact Us

    For Enquiries, Membership
    [email protected], [email protected]

    For Listing, Subscription
    [email protected], [email protected]

    For Press Release, send to:
    [email protected]

    For Events & Webinars
    [email protected]

    For Media Kit, Advertising, Sponsorships, Partnerships
    [email protected]

    For Research, Data, Surveys, Reports
    [email protected]

    For General Enquiries
    [email protected]





    Caproasia | Driving the future of Asia
    a financial information technology co.
    since 2014




    Previous articleJP Morgan: 12 Hours a Day for 2.5 Years and 10000 Hours to be a Wealth Manager
    Next articleCiti Private Bank Hires Credit Suisse Lillian Liao as China Global Market Manager, Lead Private Bankers to Focus on China Entrepreneurs
    Caproasia.com covering capital markets, investments and private wealth in Asia. Our users manage, advise & invest $25 trillion assets in Asia