Hong Kong’s Securities and Futures Commission has released an annual survey of fund management activity in the territory and concluded that the funds industry continues to grow there.
The Mandatory Provident Funds scheme was the biggest reason for a rise in the territory’s asset management industry, with MPF funds in 2002 rising 56%. This programme, launched in January, 2001, has fulfilled its promise of steadily rising inflows to mutual funds.
Another prop was the popularity of principal-guaranteed mutual funds. The SFC has found that newly SFC-authorized retail funds’ assets rose 38% last year. What is surprising, however, is not that guaranteed funds played a role, but that many other asset...
