Country _ Name
Asset and portfolio management
FinTechs belonging to this category offer asset and portfolio management services via an internet platform or software programs and usually manage and dispose of the assets of their customers long or short term according to their specifications without actually holding the property or the possession of those assets. FinTechs, which provide information about and access to overnight or time deposit accounts at national and foreign banks and which execute the transactions to these accounts, also belong to this category. Some FinTechs however only act on request of the customer.

Aside from that some FinTechs offer software or internet solutions enabling users to manage and plan their personal finances on their own by providing graphics, overviews and compilations of their financial data and sometimes indicating financial risks or opportunities, but without actually managing the assets.


Attitude of the country towards modern asset and portfolio management services

As an international financial centre, Hong Kong is an important asset management hub. There is a supportive environment in Hong Kong for asset and portfolio management. 

A recent initiative is Wealth Management Connect, which was introduced on a pilot basis in the Guangdong-Hong Kong-Macao Greater Bay Area in 2021, where Hong Kong-domiciled funds managed by over 30 asset managers were made available to Mainland Chinese investors via Hong Kong banks. 

Hong Kong has an established Mutual Recognition of Funds framework.

Legal affairs

Obligations and requirements to provide asset and portfolio management, or ancillary services described above

In terms of providing asset and portfolio management, the SFC regulates the promotion and the offering to the Hong Kong public of interests in a collective investment scheme under the Securities and Futures Ordinance (“SFO”). 

It is an offence under the SFO to issue any advertisement which is or contains an offer to the Hong Kong public to acquire an interest or participate in a collective investment scheme unless it has been authorized by the SFC or an exemption under section 103 of the SFO applies. 

Separately, under the SFO, asset management is a Type 9 regulated activity. Any person who carries on a business in asset management must, unless otherwise exempted, hold a SFC Type 9 license. The SFC has comprehensive requirements on how to obtain a licence and comply with the relevant regulatory obligations. The core statutory requirements are found in the SFO, the subsidiary legislations and the codes, guidelines, circulars, and other forms of guidance published by the SFC from time to time. See its website:

Additional comments regarding the legal situation for asset and portfolio management services or what FinTech’s must be aware of in this business area

Asset managers licensed by the SFC should take note of the anti-money laundering and counter-terrorist financing laws which cover their customer due diligence obligations.

Economic conditions

Market size for asset and portfolio management services and biggest companies in this business area

Hong Kong serves as the gateway for both overseas investors who wish to invest in Mainland China and for the Mainland investors who wish to invest in the international markets. This has contributed to the steady growth of the asset management industry in Hong Kong. 

According to the latest available information from the Legislative Council of Hong Kong, at the end of 2020, there were 1,914 companies licensed by or registered with the SFC to carry out asset management business, increased for 78% since 2014. While the local stock market was volatile due to the COVID-19 pandemic,



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