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December 2, 2021

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Mainlanders putting money into investment funds

investment Funds are the preferred choice among eligible Chinese mainland investors in the cross-boundary Wealth Management Connect scheme, while Hong Kong and Macau residents generally picked equity wealth management products, a recent HSBC survey found.

The Wealth Management Connect program, launched in October, enables mainland residents of nine Guangdong cities in the Guangdong-Hong Kong-Macau Greater Bay Area to invest in investment products sold by banks in Hong Kong and Macau via the “southbound link” and vice versa.

Surveying around 2,300 people living in the Greater Bay Area who have at least 1 million in local currency of liquid assets, HSBC found that a majority of southbound (91 percent) and northbound (76 percent) respondents said they are interested in participating in the scheme.

For southbound respondents interested in the scheme, over 80 percent showed interest in funds.

That compared to other eligible products such as HK dollar deposits, bonds, and foreign currency deposits.

Equity wealth management products ranked at the top for northbound respondents, followed by public fixed income wealth management products and public securities investment funds.

Interestingly, while the scheme provides a new channel for investors to diversify and globalize their investment portfolio, over half of the southbound respondents expressed interest in funds with China exposure.


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