1、 Kong Private Wealth Management Report 2023Executive summaryIndustry overviewGrowing the marketRegulationTechnologyTalent and ways of workingAbout the PWMAAbout KPMGContact us030618263442484950Contents 2023 KPMG,a Hong Kong(SAR)partnership and a member firm of the KPMG global organisation of indepen
2、dent member firms affiliated with KPMG International Limited,a private English company limited by guarantee.All rights reserved.3Hong Kong Private Wealth Management Report 2023Executive summaryGlobal uncertainty will continue to affect the private wealth management industry in Hong Kong but opportun
3、ities in Chinese Mainland market,the growing family office segment and Government and regulatory reforms provide reason for optimism The eighth annual Hong Kong Private Wealth Management report,jointly authored by the Private Wealth Management Association(PWMA)and KPMG China,provides an in-depth vie
4、w into the industry landscape,evolving challenges and emerging growth opportunities.The macroeconomic and geopolitical environment will continue to impact the private wealth management sector in the Hong Kong(SAR).Rising interest rate rises,which may persist in the medium term,have impacted investme
5、nt returns and ongoing geopolitical tensions,in particular between the United States and China,which are likely to be a more permanent feature,have impacted sentiment.At the same time,however,our survey found many positive drivers including regulatory reforms and policy initiatives to attract new so
6、urces of wealth.Challenges for the industryHong Kongs private banking and private wealth management sector experienced a decline in assets under management(AUM)and a drop in net inflows last year,although the drop in AUM is consistent with the poorer market returns observed in 2022.Uncertainty is al