Hong Kong Private Wealth Management Report 2019 – Industry outlook

Hong Kong Private Wealth Management Report 2019 – Industry outlook


Can you share with us the survey findings about the outlook of the industry? Sure Vivian On the one hand what we saw in the latest survey was slightly more challenging market conditions which brought down total AUM (assets under management) So AUM is down about 2% from the previous year On the other hand the net inflow of new assets is still up and it is up reasonably strongly That confirms that we are continuing to see market growth and people expect that’s going to continue in the years ahead That said, they are tempering their expectations in terms of how strong that market growth is going to be compared with what we saw last year I think where people are optimistic though is in two areas One, the growth of family offices in this part of the world as well as the continuing opportunities available in mainland China The report also noted that industry is very optimistic about ESG investing and also discretionary asset management Do you agree with this? For sure, we are seeing that there is growing client interest in these two areas On the one hand clients are looking for something beyond simply the availability of certain products that the PWM firms have They are interested in taking advantage of the professional advisory services that are available through a private wealth management firm And on the other hand there is an increasing interest in ESG particularly with the younger clientele What do the PWM firms need to do to capture these opportunities? We are already seeing that a number of firms are putting resources into these areas DPM, discretionary portfolio management is something that a number of firms are trying to beef up their capabilities in and ESG is something that a lot of firms have also focused on trying to make sure that their offerings are strong enough to meet that client demand Thank you Peter You’re welcome

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