Asian family offices are increasingly allocating to semi-liquid alternatives such as private credit and secondaries to enhance returns and manage risk, according to Singapore-based multi-family office First Capital Global Management (FCGM). Lili Wang, the firm’s head of alternative investments, said FCGM is evaluating two private credit funds in Asia and the US and prioritises flexible, cash-generating structures with high single-digit yields. Alternatives now make up around

Paul Chan Hong Kong US visit underscored the city’s open-market advantages as the Financial Secretary called on American companies to expand their presence despite persistent US-China trade tensions. Speaking at the annual gala of the National Committee on US-China Relations in New York, Chan met former US trade envoy Charlene Barshefsky to discuss deepening economic and financial ties. He reaffirmed Hong Kong’s commitment to its free-port status, rule-of-law framework, and r

HKMA GenAI Sandbox has entered its second phase as the Hong Kong Monetary Authority, in partnership with Cyberport, launches the next cohort to accelerate safe and responsible AI adoption in the financial sector. From over 60 proposals, 27 use cases were selected from 20 banks and 14 technology partners, prioritising innovation, complexity, and industry value. The new cohort shifts focus from experimentation to implementation, introducing “A.I. vs A.I.” governance checks and

Family offices leverage strategies are expanding as ultra-wealthy investors adopt more sophisticated financing to capture opportunities and manage risk, according to a Deutsche Bank report. Over half of the 209 family offices surveyed by Germany’s largest lender view leverage as a key part of their investment approach, with real estate cited as the most common reason for increased borrowing in the past year. The report said family offices are better prepared than in previous

Hong Kong pension ranking rose to 15th globally in the Mercer CFA Institute Global Pension Index 2025 but remained behind Singapore, which became the first Asian nation to achieve an “A” grade, ranking fourth worldwide. The index evaluated 52 systems for adequacy, sustainability, and integrity. Hong Kong scored well in integrity and adequacy but only “C+” in sustainability, while Singapore’s strong performance reflected long-term reforms and improved transparency. Mercer advi

Indonesia mutual fund foreign limits are set to rise as regulators prepare to relax restrictions for the country’s USD50bn fund industry, enabling greater global diversification. The Financial Services Authority (OJK) has approved an industry proposal to raise offshore investment caps and is drafting new rules expected next year. Current regulations limit foreign holdings to 15% of net asset value, curbing flexibility and scale. The Indonesian Investment Managers Association

China’s Greater Bay Area business activity reached a four-year high in Q3 2025, supported by a temporary US-China tariff truce and stronger financial market momentum, according to the GBA Business Confidence Index by Standard Chartered Bank and the Hong Kong Trade Development Council. The headline index climbed to 54.7 from 53.1 in Q2, while the expectations index hit 55.7 — its highest in two years — signalling robust optimism. New orders and prices of finished goods rose sh

JPMorgan Asset Management Asia plans to double its assets under management in the region to USD600bn within five years, building on strong growth in active exchange-traded funds (ETFs) and new market entries. The firm managed USD302bn in Asia at end-2024 — more than double its 2019 level — according to Asia-Pacific CEO Dan Watkins. Key drivers include the launch of its first active ETF in Taiwan in September and a SGD1.1bn (USD0.8bn) mandate from the Monetary Authority of Sin

Hong Kong SFC REIT approval procedures have been shortened to four weeks as the Securities and Futures Commission launches a new one-stop channel to facilitate real estate investment trust (REIT) listings. The platform enables local and overseas issuers to consult the regulator confidentially, improving efficiency and market preparation. The SFC has also simplified authorisation requirements and documentation, streamlining the application timeline. Hong Kong currently hosts 1

Singapore Q3 GDP 2025 rose 2.9% year on year, outpacing economists’ forecasts of 2%, according to advance estimates from the Ministry of Trade and Industry. On a seasonally adjusted basis, GDP increased 1.3% quarter-on-quarter. Growth slowed as goods-producing industries expanded just 0.6% versus 4.8% in Q2, with manufacturing flat year on year but rebounding 6.1% from the previous quarter. Construction growth moderated to 3.1%, while services remained the main driver, rising

China’s commerce ministry US trade dialogue remains strained as Beijing urges Washington to “correct its wrongdoings” and show sincerity in ongoing economic talks. The statement followed US claims that China had postponed a planned call on rare earth export controls. A ministry spokesperson said Beijing had notified the US in advance of the new measures through their bilateral export control dialogue and held working-level talks as recently as Monday. The spokesperson added t

Hong Kong director pay 2024 data show thirty-one executives of listed firms each earning over HKD100m (USD12.8m), according to activist investor David Webb’s financial website Webb-site. Li Auto founder Li Xiang topped the ranking with nearly HKD680m, followed by JS Global Lifestyle chairman Wang Xuning and J&T Global Express founder Jet Li Jie, who each earned around HKD520m, mainly from share awards. HSBC CEO Georges Elhedery ranked 23rd with HKD130m, more than double his 2

Hong Kong Islamic finance initiatives are gathering pace as the city positions itself as North Asia’s hub for Shariah-compliant financial products. Companies are exploring sukuk bond issuance to attract Middle Eastern capital into the Greater Bay Area, officials and bankers said. Standard Chartered’s David Yim noted growing interest in sukuk listings following government roadshows in the region. Financial Secretary Paul Chan highlighted that Hong Kong’s legal framework alread

Singapore AI hub for finance has been launched by the Monetary Authority of Singapore (MAS) to accelerate artificial intelligence adoption across the financial industry. Developed under the PathFin.ai programme, now involving more than 80 financial institutions, the hub offers peer-validated use cases in risk management, sales, and operations. It will be expanded to include new case studies, resources, and workforce planning tools to help institutions deploy AI efficiently. M

Hong Kong family office growth continues as regulators and wealth managers intensify efforts to serve increasingly sophisticated investors shifting allocations toward private markets and global diversification. The city now counts more than 2,700 single-family offices as of September 2025, after meeting its 2022 goal to attract at least 200, and aims to bring in another 220 between 2026 and 2028. Raffles Family Office, led by group CEO Chi Man Kwan, is expanding into the Midd

Malaysia family office tax incentives could deliver up to MYR10.7bn (USD2.5bn) in economic benefits, according to Juwai IQI Global Wealth Office head Haroon Anwar. The new package aims to attract single-family offices (SFOs) with assets of at least MYR30m, a threshold below Hong Kong’s and far under Dubai’s MYR211m. It requires MYR500,000 in annual domestic spending and offers up to 20 years of 0% income tax plus exemptions on stamp duty and capital gains. Anwar said long-ter

HSBC Hong Kong cross-border wealth hub ambitions were reinforced by chief executive Georges Elhedery, who reaffirmed Hong Kong’s centrality to the bank’s long-term growth. He described the city as a core market and gateway between mainland China and global capital, predicting it would become the world’s largest cross-border wealth hub by 2030. Elhedery noted that HSBC has been adding around 100,000 new clients a month in Hong Kong over the past two years, highlighting the cit

A new FedEx survey Asia-Pacific trade reveals that more than 40% of APAC businesses plan to pivot away from the United States within a year, as firms adjust to regulatory changes and supply-chain pressures. Of those surveyed, 22% will target Asian markets and 21% will shift toward Europe. The survey of 3,800 companies across nine regional economies follows the US ending its de minimis rule in August, which had exempted imports under USD800 from customs duties. The policy chan

Lioner Hong Kong leadership has been bolstered with the appointment of Gary Mak as general manager, reinforcing Lioner International Group Ltd.’s growth strategy in Asia. The firm, which offers insurance, trust, and family office services, said Mak will oversee Hong Kong operations, focusing on sales strategy, advisor engagement, and expansion into Asia’s wealth hubs. With more than 20 years of experience at Fubon Life, AXA, MetLife, and New York Life, Mak brings strong exper

Global family offices in Hong Kong gathered at the sixth World Family Office Forum | Asia, which opened on 9 October at the Ritz-Carlton Hong Kong. The two-day event, hosted by Connect Group, convened family principals, office leaders, and investors for closed-door discussions on wealth, governance, and innovation. The forum focuses on multigenerational succession, global investment trends, venture capital, digital assets, and impact investing. Sessions also explore cybersecu