According to the report analysis, ‘Wealth In Hong Kong: Hnw Investors 2018’ states that the established nature of Hong Kong market makes it huge and more developed than is frequent in the rest of Asia Pacific, with a strong component of offshore wealth management. Whereas, local high net worth investors have majorly sourced their wealth with a combination of entrepreneurship and earned remuneration. Moreover, Hong Kong has many multimillionaires and this economy is a service-oriented which is characterized by its low taxation whereas, the interest rates are resolved by the individual banks in Hong Kong to protect as they are market operator. Furthermore, by the time it is expected that the number of millionaires will going to increase in the coming years as the Hong Kong investors have the highest perils appetite and investment knowledge.
Hong Kong is the surface of option for those financial services company who are looking to platform, execute and financial transactions in the Asia region. Hong Kong is obvious entry point for the financial facilitating companies who are seeking future HNW customers. This newly created bunch of HNW individuals has a wide craving for private equity deals, family office services, venture opportunities, luxury goods, private banking and others. Moreover, this region is realistically teeming with HNW individuals and their organizations as they are impatiently seeking investment chances and deal flow. Whereas, one hurdle to growth in Hong Kong has been the absence of present financial settlements. Not only has this, Hong Kong’s English speaking, affluent and well educated citizenry. Moreover, the Investor of Hong Kong was also found to be the most self-sustaining in their decision making.
Convenience is a significant factor driving uptake of professional advice meanwhile, the advisory mandates dominate and this is changing and report also considerable uptake of optional mandates, in part operated by expats. Moreover, the average portfolio is steadily invested into equities, but the bonds and alternative will rise. Furthermore, the constituting 22,000 individuals, the HNW female segment is anticipated to rise more significantly as demography and developing social mores reshape Hong Kong. Whereas, 42.8% of the local HNW population are non-nationals, building the expat opportunities an effective one. An increased focus on tax evasion following the establishment of the CRS will operate demand for tax advisory facilities in the short term, meanwhile an aim on discretionary facility is a must in the long term. In the Hong Kong, the government is enhancing the marketing strategies and capture new clients moreover, develop the service proposition to match the facility and product demand expressed by HNW investors and react more actively for forecasting the change in demand.
HNW 31.0% of the wealth is held in Bonds, introducing it the preferred asset class, intently followed by equities (30.0%); the former and replacements are anticipate to show the precipitous increase in demand. Therefore, in the coming years the wealth in Hong Kong will grow more significantly over the decades with the more investment by the HNW entities and significant increase in service demand among the HNW investors.
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Ankur Gupta, Head Marketing & Communications