Print this article

Hong Kong's Rich Set Their Sights On Financial Planning

Vanessa Doctor

22 June 2010

High net worth investors in Hong Kong will have financial planning at the top of their list when they set their priorities for the next two years, latest research by Datamonitor reveals.

"High demands for financial planning could be attributed to the large proportion of 31 to 50 year old HNWs in Hong Kong who have long-term investment objectives," said Harry Senlitonga, the firm's senior analyst, in a statement.

The study shows that this is true for over 50 per cent of the city's HNWs, with the biggest shift in asset allocation turning out to be the withdrawal of funds from fixed income. The higher level of risk tolerance is what attracts HNWs to re-allocate their wealth into equities and real estate investments and out of fixed or cash products, the study said.

The results of the study were based on responses of wealth managers and planning executives in Hong Kong who participated in Datamonitor's sixth annual Market Leaders survey in February to March 2010.