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Hong Kong’s private wealth management business grows 4.3%

Despite heightened market volatility, risk aversion and pessimism in the future global outlook, Hong Kong’s private wealth management business still managed to eke out 4.3% growth, according to the Securities and Futures Commission (SFC). The sub-sector grew to HK$4.78 trillion (US$613 billion), which includes private banking business and private client funds. Licenced corporations, whose aggregate includes asset management and fund…

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