Rongchai Wang
Sep 04, 2025 04:27
The SFC-HKMA joint survey reports a 40% surge in non-exchange-traded investment product sales in Hong Kong in 2024, reflecting robust market participation and investor confidence.
In 2024, the Hong Kong investment market experienced a significant upturn, as detailed in the annual joint survey conducted by the Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority (HKMA). The survey revealed a remarkable 40% year-on-year increase in the total transaction amount of non-exchange-traded investment products, reaching a record $6,073 billion, according to the Hong Kong Monetary Authority.
Market Growth and Participation
The report highlighted a broad-based growth in market participation, with the number of firms selling investment products rising by 9% to 414. Notably, 46% of these firms more than doubled their sales compared to the previous year. Large firms, defined as those with transactions exceeding $1 billion, saw a 12% increase, totaling 101 firms.
Additionally, the manpower dedicated to distributing investment products grew by 4% to over 19,000, while the number of clients completing at least one transaction surged by 28% to more than 1.2 million.
Investment Product Trends
All major investment product categories saw significant sales growth. Authorised collective investment schemes (CIS) sales nearly doubled, increasing by 96% to $1,400 billion, while unauthorised CIS rose by 50% to $844 billion. Structured products and debt securities sales also experienced growth, rising 30% and 29% respectively.
Equity-linked products, driven by strong market momentum, remained the leading structured product category, with sales climbing 43% to $1,729 billion. Money market funds and sovereign bonds continued to attract investors seeking lower-risk options in a high-interest-rate environment. These two categories accounted for significant portions of the total transaction amounts, underscoring their popularity.
Executive Insights
Dr. Eric Yip, Executive Director of Intermediaries at the SFC, emphasized the trust and dedication within the financial markets, stating, “The remarkable surge in product sales underscores the dedication of firms and the trust investors place in our financial markets.”
Similarly, Mr. Alan Au, Executive Director (Banking Conduct) of the HKMA, noted the increased investor confidence, remarking, “The strong growth in investment transactions reflects heightened investor confidence and interest in the vibrancy of Hong Kong’s investment market.”
Additional Survey Findings
Structured products accounted for 42% of the total transaction amount in 2024, with CIS and debt securities following at 37% and 15% respectively. Equity-linked products constituted 67% of all structured products sold, with a notable presence in the technology, automotive, and internet sectors.
Online sales also saw a notable increase, comprising 17% of the total transaction amount, up from 12% the previous year. The number of firms distributing investment products online grew by 13%, with CIS remaining the predominant product type sold through digital platforms.
The survey, which included responses from over 99% of the targeted licensed corporations and registered institutions, provides crucial insights into the evolving landscape of Hong Kong’s investment market.
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