Introduction

Strength in the time of adversity

The Greater Bay Area’s (GBA) fund management industry is in good health. From increasing access to international investors and the creation of more funds to robust regulatory protections and a broader range of investable products, GBA asset managers find themselves in a strong position in 2024.

A host of data bears that out. ETF funds listed on the Stock Exchange of Hong Kong (SEHK) last year climbed to 149 and advance turnover was a record HK$11.8 billion, up by a fifth year-over-year. Sales were up, too: in January, they climbed 47% on the previous 12 months, according to the Hong Kong Investment Funds Association.

There are multiple other metrics that paint a picture of a cross-border asset management environment that is strong and growing and you will find them here in the latest edition of Bloomberg’s “Offshore China Asset Management Industry Report”.

The report, however, presents a more nuanced view of the market. In recognizing the best of the region, we also survey the challenges it has overcome, and those which lie ahead. Uncertainty over the prospects for interest rates remains, market volatility hasn’t abated and competition is increasing, all with the potential to impact the direction of the region’s markets in the coming year.

We open with a report on the ninth annual Offshore China Fund Awards in Hong Kong, organized by Bloomberg and the Chinese Asset Management Association of Hong Kong (HKCAMA), including the observations made by local dignitaries and organizers.

In the next section, an in-depth review of a discussion between industry chief executives and leaders illuminates how the largest and most prestigious participants in the GBA funds industry managed the past 12 months and lays out their expectations for the next year.

And finally, a collation of the best of Bloomberg Intelligence’s analysis of the region will focus on the news, the trends, and the sectors that have occupied our sharpest minds.