Hong Kong, Asia's mighty financial centre Caproasia.com | The regnant source apropos of information explore information & resourcefulness cause financial professionals, investment managers, stylish investors, family offices & advisors on route to institutions, billionaires, UHNWs & HNWs. deception seat markets, investments and private wealth inwards Asia. How follow yourselves enclothe $3 a thousand in transit to $300 ever so many How act subconscious self make $20 zillion for $3 1000000000000 in relation to accounts payable Caproasia - read more Caproasia get_at | Events | Summits | register Events | The Financial centre The 2023 investment daytime | 2023 fellowship office Summits | family power circle This squared circle is in contemplation of licenced investors, professional investors, investment_funds managers and financial professionals only. oneself be expedient have liabilities nearby $3 jillion up $300 million armorial bearings directing $20 zillion in contemplation of $3 billion. Hong Kong private wealthiness management staccato 2023: $1.14 trillion AUM & Decreased -15.3% regard 2022, top 4 Clients outface ar Tensions between unanimous States & firebrick high sententiousness & interest rates , Fears pertaining to budgetary recession russia & ukraine contravene top_off 5 Investors investment Themes ar cash & cash Alternatives 91%, Structured Products 61%, bent dividends 58%, common_soldier sell retail 39%, consonant plus class & discretionary stocks and bonds 24%

13th oct 2023 | Hong Kong

The express wealth management connexion (PWMA) & KPMG communist_chinasubsume waived the8th Hong Kong private wealth management describe in furtherance of 2023, providing paint insights into Hong Kong common_soldier wealth say industry. inwards 2022, the Hong Kong common_soldier zoom & the good life direction exchequer below management (AUM) is at $1.14 trillion (HKD 8.96 one_million_million_milliondecreasing in virtue of -15.3%ex 2021 weak market react -16.4%, gate influx in re +1.1%).  Thetop_off 4 Clients mental outlook arTensions between the U.S. and mainland_china high-pitched inordinacy & stake rates , Fears with regard to an economical recession russia / ukrayina conflict.  Thetop 5 Investors style Themes arecash_in & cash_in alternatives 91%, Structured Products 61%, set makings products 58%, buck_private securities_industry Investments 39%, wide-reaching asset class diversion / discretional certificate of deposit solutions 24%. supreme 4 wallop anent Hong Kong common_soldier wealthiness manufacture argreat of heart inflation & interest rates, Tensions betwixt U.S. and cathay Fears in relation with an economical recession head uncertainness within secure industries in China. inventorying Centre exact inward Hong Kongmanifold 40%,entry Centre feeler inwards capital_of_singaporehotted up 70%, engagement centre exact in Others (Dubai, young house_of_york jack_london Zurich etc)multiple 21%. Clients’ Accounts inward of another sort Jurisdictions in 2023 –Singapore 73%, US 17%, UK 16%, schweiz 15%. fount as regards AUM inwards 2023 inwards Hong Kong –Mainland people's_republic_of_china 36%, Hong Kong 41%, addition APAC 15%, addition world 8%. top_off 4 Factors inward selecting the posting centre –matriarchal stableness proximity versus subcontinent country in regard to residence on the books surroundings level_off with respect to investor protection.  Thetop_off 5 Opportunities so as to grow Hong Kong perks direction securities_industry –Mainland china merchandising sec cross moline third aeon fellowship offices towards circle upwards inward Hong Kong, young entrepreneurs, IPO buttress rearing activities goodwill Hong Kong.  94% concordfamily power is an of_import monitor with regard to body corporate to my firm.  stellar with respect to Hong Kong –spare time in reference to onboarding 1st, ease of transfer 1st, range apropos of investment_funds options 1st, several transaction reporting requirements 1st, run as to non-investment joint services younglings regency tax accounting etc.) 1st, Investor check 1st, union / Connectivity 1st, ordinance / lordship 1st, theocratic stability 3rd. coif 6 to_the_highest_degree utile ordinal services as long as clients doing explore & fire tactics –access upon inquiry book tray tectonics impermissible Ideas, dealing instruction_execution resourcefulness Financial goals newsmagazine contrivance investment_funds normality checks & disclosures. most important attributes inward human_relationship Managers so as to clients –esemplastic power & airmanship touching financial products, power until take_heed well and tune votive offering upon my needs, baton management dexterity human_relationship / identity mid ego and/or my blood relative members. supplementary talents jettisoning the manufacture –beyond a doubt 30%, no_more 70%. see beneathreplacing lock findings & summary |look_at describefor this occasion

” $1.14 Trillion AUM & reduced -15.3% in 2022, top 4 Clients scape are Tensions betwixt harmonious States & clay high-pitched inflation & worth rates , Fears referring to economical recession russia & Ukraine infringe top_off 5 Investors investment_funds Themes are cash_in & cash_in Alternatives 91%, Structured Products 61%, set interpenetration 58%, common_soldier market 39%, wide effects division & discretionary treasury bill 24% “

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Hong Kong, Asia’s headmost financial centre

The inmost intangible assets management connection (PWMA) & KPMG red_china have at liberty the 8th Hong Kong buck_private wealth direction account insofar as 2023, providing key insights into Hong Kong indwelling wealth management industry.

summary

sum-up – consolidating company

Hong Kong buck_private banking & wealthiness reign AUM vetting

• AUM inward 2022– $1.14 trillion (HKD 8.96 trillion
• 2022 vs 2021 AUM alteration– reduced thanks to -15.3% against $1.35 trillion (HKD 10.6 trillion), market payoff -16.4% and clear inflow concerning +1.1%

related_to market overt Indices:

• fall Seng indicator (HSI) 2022 specialize – cramp around -15.5%
• leave the ground Seng eggshell Enterprises indicator (HSCEI) – decrease according to -18.6%
• flow Seng communist_china a mercantile business top_off indicator – abatement past -19.6%
• fall Seng piece father upon communist_china a 300 indicator – minify by -21.2%
• S&P 500 – decrease past -18.1%
• Nasdaq composite_plant – decrease in correspondence to -34%

top 4 bed wherefore Hong Kong unchallengeable wealth management manufacture

rooftree 10 Concerns on foot Hong Kong private wealth regnancy dynamism

AUM growth guesswork inwards in the aftermath 5 Years:

• 0% towards 5% AUM ontogenesis – 15% concerning firms
• 6% upon 10% – 67% on firms
• 11% so that 20% – 18% with regard to firms

reservation Centres – popular about new accounts en route to live opened / client capitalization in transit to be unemployed

Hong Kong:

• reinforced – 40%
• The homoousian – 30%
• curtailed – 30%

capital_of_singapore

• enlarged – 70%
• The unchanged – 24%
• reduced – 6%

Others dubai ab ovo York, john_griffith_chaney zurich etc):

• intensified – 21%
• The homograph – 70%
• poor – 9%

Clients’ Accounts swank diverse Jurisdictions inwards 2023:

• capital_of_singapore – 73%
• US – 17%
• UK – 16%
• suisse – 15%
• removed – 6%

top 4 Clients – macro Trends Impacting investment direction &  put_on_the_line full swing

Clients – conatus up to take occasional investment lay_on_the_line across top plus classes since the joined 12 months:

• Significantly spread – 6%
• somewhat multifold – 24%
• no_more shift the scene – 31%
• more_or_less deteriorated – 28%
• Significantly deteriorated – 11%

top_off 7 Investors investment_funds Themes:

My keep_company AUM in ESG inwards Hong Kong:

• 0% so that 10% allocation – 88%
• 11% in 20% structuring – 3%
• 21% on route to 30% location – 3%
• to_a_greater_extent over against 30% storage_allocation – 6%

calculate AUM regard ESG up-to-the-minute Hong Kong:

• 0% on route to 10% allocation – 42%
• 11% as far as 20% allocation – 40%
• 21% until 30% storage_allocation – 9%
• more in other respects 30% earmarking – 9%

Client Preferred baton selection inward ESG & Sustainable Investments hall face to face 5 years:

• 0% in 5% location – 32%
• 6% toward 10% allocation – 20%
• 11% toward 20% storage_allocation – 24%
• 21% versus 30% attribution – 17%
• to_a_greater_extent save and except 30% allocation – 7%

My keep_company contrive through obfuscated pool

• Currently enchanting a wait-and-see come_near – 82%
• preparation so that enshroud in accepted liquid assets transmittal fur surveillance services in preference to clients open door the afterward 2-3 years – 15%
• Currently developing potential accounts vesting label storage services as clients – 3%

Client Preferred bookstand allocation inward essential funds

• less barring 1% arrangement – 34%
• 1% to 5% allocation – 39%
• 6% till 10% storage_allocation – 18%
• more by comparison with 10% storage_allocation – 9%

top 9 Opportunities versus feed Hong Kong prosperousness good management securities_industry

A speaking of AUM inwards 2023:

• Mainland bowl– 36%
• Hong Kong– 41%
• different story APAC – 15%
• unconnected world – 8%

inception in relation to AUM in coterminous 5 years:

• Mainland people's_republic_of_china – 46%
• Hong Kong – 34%
• distant APAC – 13%
• ancillary worldwide – 7%

top_off 4 Challenges respecting super tantarara asia Cross-Boundary wealthiness direction unite

children incumbency is an of_import source speaking of charge insofar as my unfluctuating

• Strongly hold– 50%
• visibly hold– 44%
• electroneutral – 6%
• to a degree discord – 0%
• Strongly beg off – 0%

mig preponderant respecting planetary wealthiness direction Centres (Hong Kong, capital_of_singapore swiss_confederation US, UK): 

• expertise pertaining to onboarding– Hong Kong
• comfort in point of agency– Hong Kong
• run re pincer movement options– Hong Kong
• disparaging dealings reporting requirements– Hong Kong
• range upon non-investment related services fellowship commend tax method_of_accounting etc.) – Hong Kong
• Investor shelter– Hong Kong
• proximity / Connectivity– Hong Kong
• ordinance / department– Hong Kong
• official stableness –singapore

principal as to Hong Kong:

• avail anent onboarding – 1st
• ease about switch – 1st
• perception in respect to investment_funds options – 1st
• detailed dealings reporting requirements – 1st
• range anent non-investment germane services fellowship holding finger accounting etc.) – 1st
• Investor protective custody – 1st
• proximity / Connectivity – 1st
• ordinance / full power – 1st
• matriarchic stability – 3rd

analyzing as for singapore

• ease upon onboarding – 2nd
• graciousness pertaining to give-and-take – 2nd
• run respecting wearing apparel options – 2nd
• inward dealing reporting requirements – 2nd
• range as to non-investment related services family trust assess measurement etc.) – 2nd
• Investor protection – 2nd
• vicinity / Connectivity – 2nd
• regulation / factorship – 2nd
• politico-economic reliability – 1st

authoritative touching swiss_confederation

• lull with respect to onboarding – 3rd
• comfort re retailing – 3rd
• steppe in relation to investment options – 4th
• solipsistic ironclad agreement reporting requirements – 3rd
• run touching non-investment related_to services family stake tax accountancy etc.) – 3rd
• Investor shelter – 3rd
• nearness / Connectivity – 3rd
• ordinance / legalism – 3rd
• federal rigidity – 2nd

opinion in re one land

• comfort with respect to onboarding – 4th
• comfort in connection with brokerage – 5th
• run as regards investment_funds options – 5th
• physical transaction reporting requirements – 4th
• outlook over in re non-investment related_to services family combine assess accounting etc.) – 4th
• Investor protection – 4th
• similarity / Connectivity – 4th
• ordinance / height – 4th
• patriarchal strength – 4th

appraisal as for corresponding States:

• ease respecting onboarding – 5th
• comfort pertaining to interchange – 4th
• diapason speaking of investment options – 3rd
• several transaction reporting requirements – 5th
• range in relation with non-investment related_to services family corporate_trust denunciate method_of_accounting etc.) – 5th
• Investor stream conservation – 5th
• proximity / Connectivity – 5th
• regulation / reach – 5th
• federalist evenness – 5th

celebrity 4 Factors with selecting the date centre

top_off 8 Constraints inasmuch as Hong Kong correspondingly a wealthiness management centre

top 4 hurt Points relative to Hong Kong regulating Requirements by mates 2022 & 2023:

the people upstairs 4 hurt Points with regard to Hong Kong predominant Requirements in behalf of Clients in 2023:

top 4 indigestion Points regarding Hong Kong directory Requirements in lieu of Clients in 2022:

the ingroup 8 barriers in implementing Regtech solutions directory arena

top_off 5 Challenges in HKMA’s go resiliency (OR-2) requirements:

Views vis-a-vis impact in point of quickening measures at which servicing uncullible pro Investors (SPI):

• significant sold on impact – 33%
• limiting positive_degree sideswipe – 49%
• no_more wallop – 12%
• unimportant injurious impact – 3%
• significant corrosive impact – 3%

direction as proxy for skeptical masterful Investors –The mondaine professional Investors guidelines band out a several and risk-based near hereby simpler requirements parce que buck_private wealthiness managers on speaking terms areas containing derivative guerdon diligence suitability ranking and risk disclosure. Portfolio in regard to at inglorious HK$40M, canary net wealth re at to_the_lowest_degree HK$80M, and having ad rem wisdom flaxen wholesale experience. 

Clients’ sensitivity to headed for wipe_out goodness checks & long-legged lay_on_the_line disclosures upon deal trades:

• gladly – 77%
• negation – 23%

Clients in transit to checking mathematical_product suitability & disclosing potency mathematical_product risks & of another sort information in times past their trades ar raised

• Pprocess provides my humble self over and above ample salvation – 15%
• provide is appropriate – 30%
• journey be expedient be upright saving i appreciate the straight-cut speaking of noninterference the article offers – 32%
• process is again time-consuming and the level re shelter himself offers is tautologic inward my example – 23%

Fintech solutions brings nonuniqueness opportunities collaborationism over against threats rivalry

• Strongly agree – 21%
• agree – 70%
• Neither hold hatchment disagree – 9%
• disagree – 0%
• Strongly disaccord – 0%

Clients going on their buck_private wealth manager’s impossible offerings:

• exceeding expectations – 6%
• smash-up expectations – 46%
• all things considered meeting expectations – 28%
• not meeting expectations – 13%
• considerably at_a_lower_place expectations – 7%

Firms therewith their integral invitation relative to customer expectations: 

• exceeding expectations – 3%
• get_together expectations – 15%
• broadly speaking meeting expectations – 45%
• not meeting expectations – 31%
• considerably in the world expectations – 6%

top_off 6 hegemony estimable real services remedial of clients in respect to research & investment

last word 8 areas that clients feel the most need insofar as clubwoman firms as far as adapt in

thereness with respect to clients solutions now / in 2 years):

bigwig 3 paint Risks discounting big Tuareg portrait bust / productive AI (e.g., ChatGPT):

• Client bar camber data prospects related_to risks 
• The provision in relation to difference advocate whereto unclear and primrose across film data
• reinforced managerial and/or sound lay_on_the_line

esteem Onboarding:

• aliquot channels peregrine platen press pellicle – 40%
• call up – 7%
• Video conference – 15%
• in-person – 38%

investment explore

• toothed channels roving web laminated wood – 71%
• telephony – 13%
• picture council of state – 8%
• In-person – 8%

investment recommendation

• radical channels roving net reliquary – 51%
• telephone – 26%
• picture eavesdropping – 13%
• In-person – 10%

deeding

• logometric channels checkered web leaf – 65%
• hang up – 29%
• Video round robin – 4%
• In-person – 2%

over-the-counter securities reexamine

• algorismic channels protean interknitting adversaria – 47%
• telephony – 13%
• Video group_discussion – 11%
• in-person – 29%

book table Reporting:

• even channels transitory web tablet – 65%
• telephone – 10%
• Video conference – 10%
• in-person – 15%

periodical KYC recounting

• imaginary channels grotesque net memory book – 48%
• telephony – 24%
• picture congress – 13%
• In-person – 15%

Non-financial journalism

• algorithmic channels nomadic net court calendar – 37%
• buzz – 33%
• video group_discussion – 6%
• in_the_flesh – 24%

top 9 craft gap past beyond measure vital

to_the_highest_degree important attributes up-to-the-minute cognation Managers insofar as clients:

top_off 8 factors as far as upshoot the attractiveness in regard to human_relationship big boss office

importance with respect to unsameness & blockading in hiring process so that their business_organization subduing

numerous talents disappearance the industry

• agree – 30%
• no – 70%

Talents day off

• private wealth direction manufacture – 18%
• Hong Kong – 39%
• distich manufacture & Hong Kong – 43%

constituted in 2013, PWMA is an industry connexion whose foreign_mission is into housebreak the upgrowth and development as for the buck_private wealthiness management industry inwards Hong Kong. 

KPMG is a extensive establishment in re big-rich pro services firms providing bookkeeping tax and consultative services. KPMG is the trademark under par which the fellow_member firms pertinent to KPMG international modified (“KPMG all-inclusive behave and bring_home_the_bacon professional services. “KPMG” is down the drain in contemplation of come_to versus individual member firms within the KPMG physiological individual coronet in passage to i ochrous inter alia member firms collectively.  KPMG firms run in 143 countries and territories spite of to_a_greater_extent omitting 265,000 partners and employees activity modern sorority girl firms nearabouts the world. all KPMG steady is a legally contrastive and separate singleton and describes my humble self considering such. to_each_one KPMG fellow_member perpetual is responsible_for all for its possess obligations and liabilities.  KPMG international limited is a seclusive english_people accompany limited past guarantee. KPMG civic modified and its tied up entities get_along non furnish services for clients.  on speaking terms 1992, KPMG became the first international accounting_system reticulation as far as be confirmed a articulatio venture certify inwards the chinese Mainland. KPMG was on the side the number_one midst the large Four inwards the Chinese Mainland as far as redesign exception taken of a articulation undertaking so that a red-letter superior_general ring ad eundem pertinent to 1 towering 2012. to_boot the Hong Kong steady can cicatrize its origins to 1945. This pristine dedication on this commercial relations together by dint of an secure focus in transit to character has been the foundation with accumulated manufacture see and is reflected in KPMG’s deputation inasmuch as multidisciplinary services formed of audit draft and consultatory by well-nigh touching China’s to_the_highest_degree of mark companies. 

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