The fund management industry in Hong Kong will benefit from changes to the Mutual Fund Recognition scheme, enabling local firms to sell more funds to mainland investors. Effective January 1, these revisions also let overseas managers invest on their behalf. The Hong Kong Investment Funds Association says they strengthen the city’s gateway role. Hong Kong’s position is expected to grow, with rising demand from mainland investors to diversify. Adjustments include delegating management to overseas affiliates and raising the quota bn) from 50% to 80%. Mainland investors put CNY33.2bn (USD4.52bn) into Hong Kong funds in the first 10 months of 2024, up from CNY12.4bn a year. Meanwhile, Hong Kong investors spent CNY86.6m on mainland funds, down from CNY339m, official data show.
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