Hong Kong has the most number of ultra-high-net-worth (UHNW) individuals in Asia and globally it ranks second, according to the Wealth-X 2017 ultra wealth report.
Korea-based Mirae Asset has ambitious plans for global ETFs and Hong Kong will play a key role, said global head of ETF business Taeyong Lee.
Active funds investing in the region have low returns relative to their benchmarks over multiple time periods, according to a Cerulli Associates report.
Despite capital controls, Chinese investors still contributed 47%, or $28.2bn, of Asian outbound real estate investment in 2016, according to CBRE.
Domestic consumption and services companies in China, India and Indonesia are attractive as potential trade barriers loom, said Fan Cheuk-wan, HSBC Private Bank head of investment strategy in Asia.
BMO Global Asset Management’s Gary Potter revised his funds’ underweight US position to neutral after the election, but did not back down from his convictions on Japan and Asia despite Donald Trump’s trade rhetoric.
Mutual funds platform operator Allfunds Bank has announced plans to expand across Asia by launching an operational hub in Singapore to service a new local business, which will open early next year, as well as businesses in Hong Kong and Taiwan.
The upcoming Common Reporting System (CRS) is set to pose “fundamental changes” to the wealth management industry both regionally and globally in 2017, said Kevin Liem, CIO at TTG Wealth Management.