Hong Kong (China SAR) Wealth Management – High Net Worth (HNW) Investors

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Hong Kong Wealth Management HNW Investors Market Overview

The HNW population in Hong Kong is primarily dominated by males who account for more than 84% of HNW individuals. However, a shift is slowly evolving and female HNW investors, particularly professionals, constitute an increasingly attractive target segment due to targeted initiatives driving female participation in high-ranking professions.

The Hong Kong (China SAR) wealth management market report analyzes the investing preferences and portfolio allocation of Hong Kong’s HNW individuals. It profiles HNW investors in terms of their demographics, examines the allocation of HNW investors’ portfolios, analyzes their propensity to invest offshore, and explores their product and service demand.

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Key Investment Style Preferences Advisory Asset Management, Automated Investment Services, Discretionary Asset Management, and Execution-Only Asset Management.
Key Reasons For Expatriation Better Lifestyle Conditions, Better Opportunities for Expats’ Children, Business Start-Ups, Job Transfer, Political or Economic Instability in the Origin Country,  Retirement, and Tax Efficiencies
Key Asset Allocation Classes Equity, Bonds, Cash and Near-Cash, Real Estate, Commodities, and Alternatives
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Hong Kong Wealth Management Market Dynamics

In Hong Kong, most HNW individuals derive their wealth from earned income reflecting the large number of high-earning executives based in the territory. Considering the more complex needs of entrepreneurs, wealth managers can cater to entrepreneurs’ private and business financial needs, resulting in this target audience more lucrative than professionals. Additionally, the complex landscape of entrepreneurship will give a chance to wealth managers to focus on delivering customized services that cater to the needs of business owners. The financial services sector remains the leading wealth generator in Hong Kong while the retail, fashion, and luxury goods industry is the second-most-important contributor to HNW wealth.

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Hong Kong Wealth Management Market - Investment Style Preferences

The key investment preferences in the Hong Kong wealth management market are advisory asset management, automated investment services, discretionary asset management, and execution-only asset management. While advisory mandates dominate in terms of HNW assets under management (AUM) allocated, demand is distributed relatively equally across different types of mandates, highlighting the importance of a multi-asset management strategy. Going forward, heightened demand is expected for automated investment services and discretionary mandates.

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Hong Kong Wealth Management Market - Reasons for Expatriation for HNW Investors

The drivers for expatriation of HNW investors to Hong Kong are better lifestyle conditions, better opportunities for expats’ children, business start-ups, job transfer, political or economic instability in the origin country,  retirement, and tax efficiencies, among others. Most of the people shift owing to tax efficiencies. Hong Kong has a simple tax regime with low tax rates and owns the status as a gateway to the mainland economy.

Business startups and job transfers are also among the most prominent influencing factors, suggesting that wealth managers have to take into account a diverse range of variables. The government of SAR has taken several initiatives to boost the entrepreneurial ecosystem.Moreover, the Hong Kong government has been striving to attract talent from around the world through various schemes such as the Quality Migrant Admission Scheme (QMAS), against the backdrop of an aging population and a declining labor force. This has opened up job opportunities in the city for expats.

Hong Kong Wealth Management Market Analysis By Reasons For Expatriation, 2022 (%)

Hong Kong Wealth Management Market Analysis By Reasons For Expatriation, 2022 (%)

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Hong Kong Wealth Management Market - Asset Allocation Classes

The major asset allocation classes for HNW investors in the Hong Kong wealth management market include equity, bonds, cash and near-cash, real estate, commodities, and alternatives. Hong Kong HNW individuals are avid equity investors making the equity market in the SAR well-developed and sophisticated. Furthermore, the expected surge in equity demand over 2023 will be supported by this enduring desire for equity in Hong Kong, as well as by the boost to local stocks from China’s reopening from the pandemic. Real estate is the second-most-preferred asset class among HNW investors in Hong Kong, followed by cash and near-cash products.

Hong Kong Wealth Management Market, By Asset Allocation Classes, 2022 (%)

Hong Kong Wealth Management Market, By Asset Allocation Classes, 2022 (%)

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Hong Kong Wealth Management Market Asset Classes Outlook (2022)

  • Equity
  • Bonds
  • Cash and Near Cash
  • Real Estate
  • Commodities
  • Alternatives

Key Highlights

  • Expats represent an attractive target market thanks to their more complex service requirements.
  • Robo-advisory services are at a very nascent stage of development in the HNW space in Hong Kong, but they are slowly gaining traction.
  • Hong Kong HNW individuals spread their investments in line with the Asia-Pacific average, with equities, property, and bonds dominating.

 

Reasons to Buy

  • Develop and enhance your client targeting strategies using our data on HNW profiles and sources of wealth.
  • Enhance your marketing strategies and capture new clients using insights from our data on HNW investors’ asset management style preferences.
  • Tailor your investment product portfolio to match the current and future demand for different asset classes among HNW individuals.
  • Develop your service proposition to match the demand expressed by Hong Kong HNW investors and react proactively to forecast changes in demand.

Endowus
InvestHK
HSBC Global Private Banking
Syfe
WeLab Bank

Frequently asked questions

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