Investors in Hong Kong are putting capital into money market funds, although total AUM of the products remains relatively low, according to Fitch Ratings.

Investors in Hong Kong are putting capital into money market funds, although total AUM of the products remains relatively low, according to Fitch Ratings.
After its retail fund push in Singapore, the firm has registered two products for retail sale in Hong Kong.
A Beijing-based firm has joined other Chinese wealth managers which have expanded offshore.
Economic headwinds, technology shortfalls, regulatory burdens, and talent gaps plague the territory’s wealth management industry, according to a recent survey.
But the momentum of monthly net sales for Hong Kong-domiciled products sold in the mainland (northbound funds) slowed down in August.
But in Hong Kong, the firm is building its retail business and has signed Standard Chartered Bank as distribution partner.
Separately, leveraged and inverse (L&I) products and a number of China-focused thematic ETFs have grown popular in Hong Kong.
The firm aims to participate in the Hong Kong-China Mutual Recognition of Funds (MRF) scheme.
Onshore money seeks offshore exposure and Broadridge says some popular northbound funds have an absolute return flavour.
Separately, one of CSOP Asset Management’s recently launched (-2x) inverse products has become the second largest L&I ETF in Hong Kong.
Part of the Mark Allen Group.