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Hong Kong private wealth management landscape

Asia Pacific has been at the forefront of growth in the private wealth management market in recent years. Hong Kong’s population of High Net Worth Individuals (HNWIs), with net worth between US$1 million and US$30 million, rose by 4.6% in 2014, followed by a further 3.3% increase in 2015. This trend is expected to continue until 2020.

According to Private Banker International Report in 2016, there were 200,000 HNWIs in Hong Kong, collectively holding around US$1.1 trillion in wealth. In their report, the HNWI population is expected to grow by 14.2% to reach 230,000, while total HNWI wealth is projected to grow by 23.5% to reach US$1.4 trillion.

According to Wealth-X, Hong Kong’s private wealth management market volume grew to US$600 billion in 2015 to become the fifth largest offshore wealth centre globally. Our 2016 survey of 35 private wealth management organisations in Hong Kong indicates total Assets Under Management (AUM) of over US$700 billion.

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