ID :
197239
Tue, 07/26/2011 - 11:05
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https://oananews.org//node/197239
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Hong Kong fund managers' assets hit record high
HONG KONG, July 26 (Yonhap) -- The combined assets of fund managers in Hong Kong hit a record high last year amid continuing inflows of investment capital into the Asia-Pacific region, the securities regulator said Tuesday.
The Hong Kong Securities and Futures Commission said the total assets of Hong Kong's fund management industry grew 18.6 percent to HK$10.09 trillion (US$1.29 trillion) in 2010, breaking the previous record of HK$9.63 trillion set in 2007.
The growth was largely attributed to the amount of funds sourced from non-Hong Kong investors, which grew 22.3 percent to HK$6.59 trillion. Foreign money accounted for 66 percent of the total HK$9.99 trillion in assets held by Hong Kong fund managers, excluding real estate investment trusts (REITs).
"Hong Kong continued to maintain its position as an international asset management center, attracting international investors to select Hong Kong as an investment platform," the commission said in a report.
It also said Hong Kong's position as an international financial center gained clear policy support from mainland China. Support for the development center was clearly set out for the first time in China's five-year economic development plan covering the 2011-2015 period.
The number of licensed corporations and individuals licensed for asset management in the territory grew about 10 percent on-year.
At the end of 2010, 798 corporations and 5,483 individuals were licensed for asset management, compared to 728 corporations and 4,975 individuals at the end of 2009.
The regulator said Hong Kong increasingly acts the role of a gateway and a bridge connecting the Chinese economy to the world's financial markets.
In 2010, a total of HK$234.5 billion of non-REIT fund management business was attributable to mainland China-related licensed firms, representing a growth of 51.6 percent from HK$154.7 billion in 2009.
The bulk of fund assets managed in Hong Kong was invested in Asia, accounting for 70.7 percent in 2010, the report showed.
According to the World Federation of Exchanges, investment flows into the Asia-Pacific region grew 21.3 percent on-year in 2010 to US$436.2 billion. This compared with a 17 percent increase in investment flows into the Americas and a 9.5 percent decline in investment flows into the Europe-Africa-Middle East areas.
The Hong Kong Securities and Futures Commission said the total assets of Hong Kong's fund management industry grew 18.6 percent to HK$10.09 trillion (US$1.29 trillion) in 2010, breaking the previous record of HK$9.63 trillion set in 2007.
The growth was largely attributed to the amount of funds sourced from non-Hong Kong investors, which grew 22.3 percent to HK$6.59 trillion. Foreign money accounted for 66 percent of the total HK$9.99 trillion in assets held by Hong Kong fund managers, excluding real estate investment trusts (REITs).
"Hong Kong continued to maintain its position as an international asset management center, attracting international investors to select Hong Kong as an investment platform," the commission said in a report.
It also said Hong Kong's position as an international financial center gained clear policy support from mainland China. Support for the development center was clearly set out for the first time in China's five-year economic development plan covering the 2011-2015 period.
The number of licensed corporations and individuals licensed for asset management in the territory grew about 10 percent on-year.
At the end of 2010, 798 corporations and 5,483 individuals were licensed for asset management, compared to 728 corporations and 4,975 individuals at the end of 2009.
The regulator said Hong Kong increasingly acts the role of a gateway and a bridge connecting the Chinese economy to the world's financial markets.
In 2010, a total of HK$234.5 billion of non-REIT fund management business was attributable to mainland China-related licensed firms, representing a growth of 51.6 percent from HK$154.7 billion in 2009.
The bulk of fund assets managed in Hong Kong was invested in Asia, accounting for 70.7 percent in 2010, the report showed.
According to the World Federation of Exchanges, investment flows into the Asia-Pacific region grew 21.3 percent on-year in 2010 to US$436.2 billion. This compared with a 17 percent increase in investment flows into the Americas and a 9.5 percent decline in investment flows into the Europe-Africa-Middle East areas.
