Hong Kong is the most popular market globally for discretionary portfolio management (DPM), according to a survey of six major developed economies by Avaloq, the technology company for financial services.
According to the survey, 61% of investors in Hong Kong used DPM services, where an investor hands over full decision-making power to financial professionals, compared with 59% in Switzerland and 53% in Singapore.
Japan had the lowest penetration rate for DPM services among the six markets surveyed at just 22%.
Avaloq conducted a survey of 3,000 investors across six European and Asian markets: Germany, Switzerland, the UK, Hong Kong, Japan and Singapore.
57% of respondents were mass-affluent (with investable assets of $250,000 to $1m) while 37% fell within the high-net-worth segment (with investable assets of $1m to $50m) and 6% within the ultra-high-net-worth bracket (with investable assets above $50m).
Unsurprisingly, the survey also found that equities was the most popular asset class in Hong Kong, being preferred by 64% of investors followed by 50% who preferred cryptocurrencies and 41% who preferred bonds.
In Singapore, equities was also the most popular asset class, being favoured by 55% of investors followed by 40% who favoured both investment funds and foreign exchange.
