Investors pour record US$1.3 trillion into Hong Kong investment products

Investors pour record US$1.3 trillion into Hong Kong investment products Record investor numbers drive 63 per cent surge in sales of non-traded products, led by collective investment schemes, FICC offerings Sales of non-exchange-traded investment products in Hong Kong surged to a record HK$9.9 trillion (US$1.3 trillion) in 2025, marking a 63 per cent year-on-year increase, according to the latest joint survey by the Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority (HKMA). A significant expansion in market participation drove the record-breaking performance. The number of investors completing at least one transaction rose 33 per cent to a record at more than 1.6 million, while the number of licensed corporations and registered institutions engaged in product sales grew 9 per cent to 452. Reflecting this broader industry scale, the number of large firms – categorised as those recording significant transaction volumes – increased 27 per cent to 128. “The strong growth captured in this year’s survey is a clear testament to investor confidence in Hong Kong’s asset and wealth management industry,” said Kenneth Hui, the HKMA’s executive director for banking conduct. Collective investment schemes emerged as the top-selling product category, with sales surging 85 per cent to overtake structured products for the first time since 2020. Within this segment, money market funds accounted for 88 per cent of the top five sales reported by large firms, up 80 per cent in 2024, according to the survey results released on Tuesday. Fixed-income, currency and commodity (FICC)-related offerings remained central to investor asset allocation as market participants prioritised liquidity and income-generating assets. Notably, currency-linked product sales increased by 50 per cent year on year to HK$698 billion. Debt securities continued on a solid growth trajectory, driven by a 138 per cent jump in sovereign bonds and strong interest in corporate bonds from mainland Chinese issuers, illustrating Hong Kong’s vital role as an offshore fundraising hub.