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香港市場的資產管理 - 富裕人士(HNW 高淨值投資者):2019年

Hong Kong Wealth Management: HNW Investors 2019

出版商 GlobalData 商品編碼 931481
出版日期 內容資訊 英文 44 Pages
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香港市場的資產管理 - 富裕人士(HNW 高淨值投資者):2019年 Hong Kong Wealth Management: HNW Investors 2019
出版日期: 2020年03月05日內容資訊: 英文 44 Pages
簡介

香港的富裕人士(偏重於男性專業人士及男性企業家),顯示出對大多數形式的資產建議及稅務計畫有強烈需求。以有效的投資專業知識為基礎之多重服務提議,對不斷增長的高淨值人口非常重要。像是智能投顧等新選擇的需求提高,世代之間的財富轉移、女性顧客的增加,在可預見的未來為香港的財富管理公司提供最重要的增長機會。

本報告針對香港的資產管理市場進行調查分析,針對投資喜好及資產分配提供具有體系的情報。

目次

第1章 重點摘要

第2章 規模及預測

  • 經過多年的成長停滯,香港富裕人士的比例預計將上升
  • 香港大部分的流動資產集中在富裕人士手中

第3章 人口統計

  • 任職於金融業的富裕專業人士代表豐厚的目標市場
  • 金融業為主要(且正在日益增長)的富裕人士財富創造者

第4章 派駐海外的富裕人士

  • 外籍人士高於高淨值市場之平均,但正在急速縮小

第5章 富裕人士投資風格喜好

  • 欠缺專業知識、對高回收的期望推動對建議的採納
  • 自動化投資及執行專用服務為傳統財富管理經理人提供機會

第6章 HNW資產分配首選

  • 對於多樣化的渴望推動富裕人士投資者採用其他替代方案

第7章 推動離岸投資的主要因素及動機

  • 香港的富裕人士投資者將自身資產的半數都做離岸投資
  • 富裕人士投資者對商業上的關心促進海外投資

第8章 高淨值產品及服務之需求

  • 富裕人士投資者對大多數的資產服務皆有適度需求
  • 永續的市場成長推動基本財務計畫之需求

第9章 附錄

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目錄
Product Code: GDFS0311CI

Hong Kong's HNW investors - who skew heavily towards professional and entrepreneurial males - show strong demand for most forms of wealth advice and tax planning. A multi-service proposition, underpinned by proven expertise in investment, will be key to tapping into the growing HNW population. A burgeoning appetite for novel options such as robo-advice, the upcoming transfer of wealth between generations, and the growing female segment provide arguably the most significant growth opportunities for Hong Kong-based wealth managers in the foreseeable future.

This report analyzes the investing preferences and portfolio allocation of Hong Kong's HNW individuals. It profiles HNW investors in terms of their demographics, examines the allocation of HNW investors' portfolios, analyzes their propensity to invest offshore, and explores product and service demand among UK HNW investors.

Scope

  • While currently small, the proportion of the HNW market made up of women will grow significantly as intergenerational wealth transfers propel many into the ranks of the HNW and the older-age structure of local HNW men means more churn in their numbers.
  • A little less than a quarter of HNW individuals in Hong Kong are expats, and providers that understand the distinct needs of this lucrative segment will be able to achieve higher margins.
  • Hong Kong HNW individuals use an average of 5.5 wealth managers and invest just a quarter of their managed wealth with their main wealth manager, highlighting the crowded nature of the market.
  • A fifth of HNW wealth is placed in execution-only mandates, with a desire to maintain control and save on fees being key drivers.
  • HNW individuals in Hong Kong invest an average of 50% of their total managed wealth offshore.

Reasons to Buy

  • Develop and enhance your client-targeting strategies using our data on HNW profiles and source of wealth.
  • Give your marketing strategies the edge required and capture new clients using insights from our data on HNW investors' preferences for the various styles of asset management.
  • Tailor your investment product portfolio to match the current and future demand for different asset classes among HNW individuals.
  • Develop your service proposition to match the service and product demand expressed by HNW investors in Hong Kong and react proactively to the forecast change in demand.

Table of Contents

1. EXECUTIVE SUMMARY

  • 1.1. Hong Kong's HNW investor base is in flux, requiring shrewd targeting
  • 1.2. Key findings
  • 1.3. Critical success factors

2. SIZING AND FORECAST

  • 2.1. The proportion of HNW individuals in Hong Kong is forecast to rise after years of anemic growth
  • 2.2. The majority of Hong Kong's liquid assets are concentrated among HNW individuals

3. DEMOGRAPHICS

  • 3.1. HNW professionals employed in the financial services industry represent a lucrative target market
    • 3.1.1. The majority of HNW individuals have reached or are approaching retirement age
    • 3.1.2. Earned income followed by entrepreneurship account for the majority of HNW wealth
  • 3.2. The financial services industry is the main (and growing) HNW wealth generator

4. HNW EXPATS

  • 4.1. Expats are an above-average but rapidlyshrinking segment of the HNW market
    • 4.1.1. Expats constitute 23% of the local HNW market, which is high compared to other high-immigration nations but represents a sharp decrease
    • 4.1.2. HNW expats from the US, Japan, and (of course) China represent an attractive target segment
    • 4.1.3. Intergenerational opportunities and lifestyle factors are the biggest drivers for expats

5. HNW INVESTMENT STYLE PREFERENCES

  • 5.1. A lack of expertise and the expectation of better returns drivethe uptake of advice
    • 5.1.1. Wealth managers are still seen as having expertise worth paying for in Hong Kong
    • 5.1.2. Hong Kong HNW investors are promiscuous, catered to be the ample local wealth market
    • 5.1.3. The largest proportion of HNW wealth is kept in advisory mandates
    • 5.1.4. A sophisticated proposition is becoming increasingly importantin order to attract HNW investors
  • 5.2. Automated investment and execution-only servicesoffer opportunities fortraditional wealth managers
    • 5.2.1. The strongest growth in demand will be for advisory asset management, ensuring its continued dominance
    • 5.2.2. HNW investors self-direct to cut costs and retain control over their assets

6. HNW ASSET ALLOCATION PREFERENCES

  • 6.1. A desire for further diversification will drive the uptake of alternatives among HNW investors
    • 6.1.1. Equities and bonds have reduced in terms of exposure and the portfolio looks defensive
    • 6.1.2. Equities constitute almost a quarter of HNW investors' managed wealth
    • 6.1.3. Equities to show the strongest growth over the next year supported by mainland links
    • 6.1.4. Investmentsare driven by expected higher income or risk aversion

7. OFFSHOREINVESTMENT DRIVERS AND MOTIVATORS

  • 7.1. Hong Kong investors offshorehalf their own wealth
    • 7.1.1. Much of the HNW opportunity is captured offshore
    • 7.1.2. Offshore asset allocation favors equities
    • 7.1.3. Singapore captures the greatest share of offshored HNW Hong Kong wealth
  • 7.2. HNW individuals' business interests drive offshore investment

8. HNW PRODUCT AND SERVICE DEMAND

  • 8.1. HNW investors have moderate demand for most wealth services
    • 8.1.1. Socially responisible investments and philanthropy provide an opportunity for wealth managers to stand out
  • 8.2. Enduring market growth will drive demand for basic financial planning
    • 8.2.1. Demand for financial and tax planning is set to increase
    • 8.2.2. Life insurance represents a growing opportunity
    • 8.2.3. Inheritance planning will continue to grow

9. APPENDIX

  • 9.1. Abbreviations and acronyms
  • 9.2. Definitions
    • 9.2.1. Affluent
    • 9.2.2. HNW
    • 9.2.3. Liquid assets
  • 9.3. Methodology
    • 9.3.1. GlobalData's 2019 Global Wealth Managers Survey
    • 9.3.2. Level of agreement calculation
    • 9.3.3. Service level of demand score
    • 9.3.4. Forecast level of demand calculation
  • 9.4. Secondary sources
  • 9.5. Further reading

List of Figures

  • Figure 1: The proportion of HNW individuals in Hong Kong will rise at a slower rate in the short term
  • Figure 2: Hong Kong affluence will rise at a slower rate in the future - but rise it will
  • Figure 3: HNW individuals are predominately older males but a wave of younger women is coming
  • Figure 4: HNW individuals mainly derive their wealth from earned income followed by entrepreneurship
  • Figure 5: Tech and telecoms have helped power the current generation of HNW investors
  • Figure 6: Expats represent an above-average proportion of the Hong Kong HNW population
  • Figure 7: HNW expats are drawn to Hong Kong for the intergenerational opportunity
  • Figure 8: Lack of expertise and better returns through advisors drive demand for professional advice
  • Figure 9: Hong Kong HNW individuals use a larger number of wealth managers than the regional average
  • Figure 10: Advisory mandates remain key in Hong Kong's HNW space
  • Figure 11: Higher demand for advisory services should keep it as the dominant asset management type in Hong Kong
  • Figure 12: Demand for advisory asset management remains strong, with smaller growth expected in execution-only and automated investment services
  • Figure 13: HNW individuals self-direct in order to maintain exclusive control and avoid management fees
  • Figure 14: Hong Kong HNW individuals have a balanced but rather defensive asset allocation
  • Figure 15: Equity funds are the single most popular product among HNW individuals
  • Figure 16: Equities will experience the highest net increase in demand with a potential Ant Financial bump
  • Figure 17: Risk aversion, a desire for regular income, and diversification benefits strongly affect asset allocation preferences
  • Figure 18: Hong Kong HNW offshore holdings are above the Asia Pacific average
  • Figure 19: Equities dominate offshore portfolios, reflecting both the ease of investing in China and global links
  • Figure 20: Classic offshore booking centers command most of the offshore portfolio; near shore, Singapore is rising
  • Figure 21: HNW individuals are offshoring wealth mainly due to their international business links
  • Figure 22: Demand is most pronounced for socially responsible investments along with inheritance and tax advice
  • Figure 23: Basic financial planning and life insurance will see the strongest growth in demand