Hong Kong is the biggest funds market in Asia with nearly $1tn in assets, according to figures from BNP Paribas Securities Services and Knadel.
While many fund managers expect it to consolidate its position as the premier funds hub of Asia and are positioning themselves accordingly, there are nagging doubts that a hitherto friendly regulator is now starting to clamp down on the financial sector and could hand an advantage to the many other Asian financial centres vying for supremacy.
Hong Kong has built a reputation on accessibility. The market has always been viewed as “open for business”, and the regulator has been accommodating to foreign fund managers and investors alike.