Over half of the industry executives expect a 11-30 percent growth in Hong Kong's fund management industry in the next five years, KPMG China and Hong Kong Investment Funds Association said. Expected growth is driven by opportunities related to the opening up of mainland China’s asset management industry, the ongoing development of the Greater Bay Area, technology-driven change and environmental, social and corporate governance. The report says 35 percent of the total assets under management originating from mainland China is more than US$4 billion (HK$31.2 billion). Nearly one-third of respondents expect their total AUM originating from mainland China to grow by more than 30 percent in the coming five years. However, the data show that 42 percent of the researched companies does not have any strategic plan for the Greater Bay Area.

Source: The Standard June 09, 2020 10:18 UTC