Hong Kong’s asset and wealth management industry enjoyed a year-on-year gain of 13% in assets under management (AUM) and an 81% surge in net fund inflows last year, according to the Securities and Futures Commission’s (SFC) Asset and Wealth Management Activities Survey 2024.
The total AUM rose to HK$35.1trn ($4.53trn) as at end-2024, driven by net fund inflows of HK$705bn ($91bn). In particular, the AUM of private banking and private wealth management business grew 15% year-on-year to HK$10.4trn ($1.3trn).
Hong Kong-domiciled funds authorised by the SFC also showed robust growth. Their net asset value increased 22% to HK$1.64trn as at end-2024 and further grew 21% to HK$1.99trn as at end-May 2025. They recorded net fund inflows of HK$163bn during 2024, followed by HK$237bn during the first five months of 2025.
The territory’s asset managers allocated 59% of assets outside Mainland China and Hong Kong. Their non-equity investment grew 13 percentage points to 59% over the past five years, reflecting a shift towards more diversified strategies.
This year, 1,237 firms took part in the SFC’s annual Asset and Wealth Management Activities Survey. The number of firms licensed to manage assets (Type 9 regulated activity) in Hong Kong increased by 4% to 2,212.
The survey results coincide with the findings of the recently published Boston Consulting Group’s (BCG) Global Wealth Report 2025, which ranked Hong Kong alongside Switzerland as the world’s top-two cross-border wealth centres in 2024. According to BCG’s report, the city recorded the highest absolute growth of HK$231bn in cross-border wealth, and the 9.6% year-on-year increase also outperformed the global average.
Christina Choi, the SFC’s executive director of investment products, commented: “Hong Kong is gaining more clout than ever as a leading international hub for asset and wealth management, propelled by strong fund inflows, financial innovation and a growing talent pool.”
The Hang Seng Index has risen about 22% year-to-date, driven by tech stocks and Mainland China listings.
