2025年香港私人财富管理报告

Investment Rating - The report indicates a strong confidence in Hong Kong as a preferred wealth management center, reaching the highest level in three years [17][44]. Core Insights - The private wealth management (PWM) industry in Hong Kong is experiencing robust growth, with total assets under management (AUM) reaching HKD 10.4 trillion, a 15% increase year-on-year, driven by portfolio appreciation and net inflows [29][19]. - Client confidence in Hong Kong as a wealth management hub has significantly improved, with 44% of PWM companies reporting strong agreement that clients prefer Hong Kong, the highest level in three years [44][56]. - Geopolitical risks have surpassed macroeconomic factors as the primary concern for the industry, prompting clients to further diversify their investment portfolios [40][56]. - The demand for alternative investments is rising, reflecting their increasing appeal as a hedge against uncertainty, with virtual assets and commodities continuing to attract client investments [50][56]. Industry Dynamics - The PWM industry is witnessing strong growth and stable net inflows, primarily due to increasing client confidence in Hong Kong as a wealth management and business accounting center [28]. - As of December 31, 2024, the total AUM in the private banking and PWM sectors reached HKD 10.4 trillion, a 15% year-on-year increase, highlighting the city's attractiveness as a wealth creation and preservation center [29][30]. - The net inflow for the year was HKD 384 billion, a 13% increase year-on-year, attributed to client confidence in Hong Kong as a wealth management platform [32]. Market Expansion - The sentiment in the market has become more optimistic, with the number of companies expressing "very optimistic" or "moderately optimistic" views increasing from 76% in 2024 to 100% in 2025 [57]. - The Hong Kong government is actively promoting the city as an international financial center through various initiatives, including the Top Talent Pass Scheme and the new Capital Investment Entrant Scheme [60]. - The AUM share from mainland China continues to rise, currently accounting for 57% of total AUM, expected to increase to 63% in the next five years [62]. Vision 2030 - The PWM industry in Hong Kong is expected to focus on providing new value to clients and further solidifying its position as a leading global wealth management center by 2030 [90]. - Deepening partnerships between asset managers and private banks is essential for maintaining Hong Kong's competitive edge and supporting increasingly complex client needs [91]. - The ongoing development of technology is crucial for transforming client engagement and risk management, with a need for seamless, secure, and personalized digital experiences to attract new generations of clients [92].