AUM of mainland firms in Hong Kong leaps 81%

Added 23rd July 2015

In 2014, mainland asset management firms accounted for HK$988bn ($127bn) or 5.6% of Hong Kong's fund management business, the SFC said.

AUM of mainland firms in Hong Kong leaps 81%

The figure, which excludes REITs, represents an 81.6% year-on-year increase, as mainland firms increasingly participating in Hong Kong’s asset management business, according to the Securities and Futures Commission’s annual survey of fund management activities.

Hong Kong's total non-REIT fund managment business reached a record high of HK$17.7bn, the report said.

The number of mainland fund houses managing SFC-authorised funds also increased last year to 34 from 28 in 2013.

Also last year, the number of SFC-authorised mainland funds grew to 253, with an aggregated net asset value of HK$189bn. That compares to 194 funds representing HK$145bn at the end of 2013.

Assets managed in Hong Kong

The proportion of assets managed in Hong Kong accounted for 53.7% of the SAR's asset management business in 2014. In terms of value, assets managed in Hong Kong increased by 17.7% to a record level of HK$6.86 billion.






QDII rises

Mainland assets managed in Hong Kong and sourced from the Qualified Domestic Institutional Investors recorded year-on-year growth of 11.6% to HK$125 billion in 2014. More than half of these QDII assets were invested in Asia-Pacific, with about 39%  in Hong Kong, according to the SFC.

About 50% of these QDII assets were invested in Asia-Pacific, within that about 39% were invested in Hong Kong. About 44% were invested in North America, Europe and other regions.

The report also mentioned an increase in the number of SFC-authorised Hong Kong-domiciled funds driven by the Mutual Recognition of Funds scheme. They increased by 26.7% year-on-year to 594 (as of 31 March 2015). 

"With the implementation of MRF in July 2015, it is anticipated that Hong Kong’s role as a domicile, investment management, distribution and sales centre for the asset management business will expand," the report said.

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