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AUM of Hong Kong PBs, private WMs up 19% in 2019, topping HK$9 trillion: SFC

Assets under management at Hong Kong’s private banks (PBs) and private wealth managers (WMs) in 2019 grew 19% YoY to HK$9,058 billion, notwithstanding social unrest in Hong Kong, challenging global markets and Sino-US tensions. This is a key finding of the annual Asset and Wealth Management Activities Survey by the Hong Kong Securities and Futures Commission (SFC), released on Tuesday. Hong…

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