Hong Kong’s industry dominance slips
Singapore makes strides as high hopes for RMB products disappoint, finds our industry survey with Clifford Chance. But incoming licensing laws in the Lion City may change the dynamics again.
Singapore appears to be gaining ground in its battle against Hong Kong as the region’s premier hub for asset management.
A survey conducted by AsianInvestor and Clifford Chance finds more industry executives voting for Singapore as the better-positioned city. This year 47% voted for the Lion City, versus 39% last year.
Hong Kong had won 59% of last year’s vote but attracted only 51% this time around. So the Fragrant Harbour remains the leader, but by a narrower margin.
The sur…
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