How Hong Kong can double asset holdings: target world’s ‘patient’ capital, FSDC advises

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A member of Hong Kong's Financial Development Services Council says attracting a small share of global insurance and pension funds' long-term capital could double the city's assets under management. The council recommends that Hong Kong do more to attract this patient capital and strengthen its position as an international financial centre.

Assets under management in Hong Kong would double with the addition of just a small portion of the money global insurance and pension funds have to invest, according to a member of the Financial Development Services Council (FSDC). Hong Kong should do more to attract this so-called patient capital – assets that insurance companies and pension funds invest for the long term, said the government think tank that promotes the city as an international financial centre, in a report on...