Core Insights - Asian wealth management is one of the fastest-growing financial businesses globally, with quarterly asset management growth ranging from 1% to 8% [1] Group 1: Performance of Banks - Banks in Hong Kong are showing the fastest growth, driven by strong net new funds and an increase in clients [1] - Standard Chartered achieved net new funds of $16 billion in Q2, with a focus on deposits as clients await investment opportunities [1] - HSBC continues to demonstrate strong momentum in wealth management, reporting net new funds of $22 billion in the quarter, with $11 billion coming from Asia [1] Group 2: Future Projections - Standard Chartered aims to reach $420 billion in asset management by the end of H1 2025, with 53% of this being investment assets [1] - HSBC's wealth income across all product lines grew by 22% year-on-year, benefiting from increased activity levels among Asian clients [1] - Standard Chartered reaffirms its target of achieving $200 billion in net new funds from 2025 to 2029 [1]