Hong Kong has become one of the leading markets in Asia for the uptake of discretionary portfolio management (DPM) services, research from Avaloq has found.
61% of respondents in Hong Kong stated that they currently invest via DPM, compared to 53% in Singapore and only 22% in Japan.
The study also revealed that nearly half (49%) of Hong Kong investors take a very or fairly aggressive approach to risk, an 11% rise from 2022.
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In contrast, only 29% of investors describe their investment approach as very or fairly conservative.
Further, the survey revealed that over half (57%) of Hong Kong investors said additional income was their top investment motivation.
Followed closely was future personal healthcare costs (44%), to fund their property purchases (41%) and entrepreneurial activities (40%).
Managing director for Asia Pacific, the Middle East and Africa (AMEA) at Avaloq Pascal Wengi, said: “Hong Kong investors are a relatively sophisticated and discerning group in Asia, demanding higher levels of personalisation, digital-first solutions and comprehensive advice amid challenging market conditions.
“Private banks and wealth managers need to elevate their offerings in order to retain their clients and attract new ones in the face of rising competition.”
