Hong Kong recorded HK$705 billion in net fund inflows last year, lifting its total assets under management (AUM) to HK$35.1 trillion, according to new data from the city’s financial regulator.

The Securities and Futures Commission (SFC) said in its 2024 survey that a surge in both local and international investments helped the city strengthen its role as a global center for asset and wealth management.

Private Wealth Segment Records 15% Growth

The private banking and wealth management segment stood out with a 15% rise in AUM to HK$10.4 trillion. The SFC attributed the growth to rising demand for tailored investment solutions and a broad rebound in global financial markets.

Hong Kong-domiciled funds also reported strong momentum. Their net asset value rose 22% during 2024 to HK$1.64 trillion, followed by another 21% jump to HK$1.99 trillion as of May 2025. Net inflows into these funds totaled HK$163 billion in 2024 and HK$237 billion in the first five months of this year.

Asset managers in Hong Kong allocated 59% of assets outside the city and Mainland China, reflecting a continued shift toward global portfolios. The report noted a five-year trend of increased exposure to non-equity assets, which now make up 59% of investment allocations, up from 46% five years earlier.

Hong Kong Matches Switzerland in Cross-Border Wealth Growth

The findings align with Boston Consulting Group’s Global Wealth Report, ranking Hong Kong and Switzerland as the top two cross-border wealth hubs in 2024. Hong Kong recorded the most significant increase in cross-border wealth globally, adding US$231 billion and outpacing the global average with a 9.6% year-on-year rise.

The asset management and fund advisory segment posted a 571% increase in net inflows to HK$321 billion in 2024. The number of open-ended fund companies (OFCs) registered in Hong Kong also jumped 93% year-on-year, as more asset managers opted for the local corporate fund structure supported by government subsidies.

Mainland-related firms continued to expand their Hong Kong presence. Their combined AUM rose 15% to HK$3.1 trillion, with net inflows up 68%. The segment outperformed the broader industry for the fifth year in a row.

The number of firms licensed to carry out asset management in Hong Kong rose 4% to 2,212, pointing to sustained interest in the city as a regional investment platform.

Source: Finance Magnates