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Shengsen International was invited to attend the "Head Office Activity Day of Hang Seng Bank of Hong
2025.09.02
Good News for Hong Kong’s Financial Sector: SFC’s 2024 Asset & Wealth Management Survey Shows Stellar Growth
There’s exciting news in Hong Kong’s financial circle recently—the Securities and Futures Commission (SFC) of Hong Kong has just released its 2024 Survey on Asset and Wealth Management Activities, and the data is truly eye-catching. Simply put, the “money pool” of this international financial center is expanding rapidly: both the total assets under management and the new capital inflows have seen impressive growth.
Overall Performance: AUM Hits HKD 35.1 Trillion
By the end of 2024, the total assets managed by Hong Kong’s asset and wealth management industry had reached HKD 35.1 trillion (approximately USD 4.53 trillion). That’s a staggering number, but even more remarkable is its year-on-year growth of 13%.
Key Driver: Surge in Net Capital Inflows
The biggest driver behind this growth is the massive influx of new capital. In 2024, net capital inflows hit HKD 705 billion (around USD 91 billion)—a whopping 81% surge from the previous year! It’s like the industry has shifted into high gear, showing notable momentum.
Standout: Private Banking & Private Wealth Management
Private banking and private wealth management services delivered an especially strong performance. As high-net-worth individuals increasingly value professional asset management, the assets under this segment grew by 15% year-on-year, reaching HKD 10.4 trillion (USD 1.3 trillion).
Retail-Focused Funds Also Shine
Funds—more familiar to ordinary investors—performed well too. By the end of 2024, the total assets of SFC-authorized funds stood at HKD 1.64 trillion (USD 211 billion), up 22% from the previous year. By the end of May 2025, this figure had climbed further to HKD 1.99 trillion (USD 256 billion), marking another 21% growth in less than half a year.
Investor enthusiasm for funds remains high: HKD 163 billion (USD 20.9 billion) in new capital flowed into these funds throughout 2024, and the first five months of 2025 saw an even stronger inflow of HKD 237 billion (USD 30.5 billion)—a clear sign of robust market confidence.
Where Does the Money Go? Global Allocation
You might wonder where all this capital is invested—the answer is “global allocation.” Hong Kong’s asset managers excel at international investments: 59% of the assets were invested in markets outside Hong Kong and the Chinese mainland, meaning over half of the capital is generating returns globally.
Investment strategies have also become more flexible. Five years ago, investors may have favored stocks, but today, non-equity investments (such as bonds and currencies) account for 59% of the total—an increase of 13 percentage points from five years ago. This shows that managers are adjusting their strategies to “avoid putting all eggs in one basket,” enhancing their ability to adapt to market changes.
International Recognition: Tied with Switzerland as Top Hub
This performance has won recognition not just from the SFC, but also from international institutions. In a recent report, Boston Consulting Group (BCG) ranked Hong Kong alongside Switzerland as the world’s top cross-border wealth management hubs in 2024.
Hong Kong’s total cross-border wealth value increased by USD 231 billion, representing a 9.6% year-on-year growth. This growth rate not only ranks first among major regions but also outpaces the global average. In other words, high-net-worth individuals worldwide are willing to entrust their assets to Hong Kong—speaking volumes about its standing.
SFC’s Perspective: Growing Influence as a Global Hub
Ms. Choi Fung-yee, Head of the Investment Products Division at the SFC, put it plainly: “With strong capital inflows, abundant financial innovation, and a growing pool of professionals, Hong Kong’s influence as an international asset management center will undoubtedly keep expanding.”
She also noted that the SFC will continue to develop the bond and currency markets to help Hong Kong become a more comprehensive international financial center, while consolidating its strengths in offshore RMB business.
Conclusion: Hong Kong’s “Financial Hub” Appeal Grows
In summary, Hong Kong’s asset and wealth management industry is on a steady upward trajectory, gaining ground in both profitability and international standing. For those looking to pursue global investments, the appeal of Hong Kong—this “financial hub”—is only set to grow stronger.
