HK remains preferred platform for global investors: SFC

Hong Kong remained a preferred platform for international investors investing in the region, said a survey released Monday by the Hong Kong Securities and Futures Commission (SFC).

The annual Fund Management Activities Survey (FMAS) showed that despite a 10.4 percent year-on-year decline in 2011, the combined fund management business continued on an uptrend on a three-year average basis.

According to the survey, overseas investors have consistently contributed over 60 percent of the total fund management business, excluding real estate investment trusts. This proportion has remained steady over the past five years.

"The local fund management industry continued to develop despite challenges stemming from the global economic environment in 2011," said Alexa Lam, the SFC's deputy chief executive officer.

The FMAS report notes that the SFC has continued to monitor closely regulatory compliance of investment products. Furthermore, the SFC strengthened its partnership with the mainland and fortified its role in the process of renminbi internationalization by expanding the range of renminbi products.

"The SFC will continue to maintain close dialogues with the Hong Kong government, the mainland regulatory authorities and other relevant regulators to further promote the development of offshore renminbi investment products in Hong Kong with a view to anchoring Hong Kong's role as an offshore renminbi center," Lam added.

The FMAS has been conducted annually since 1999 to help the SFC assess the industry's state of affairs for policy setting and operations planning. This year, a total of 409 entities responded to the survey on a voluntary basis.