HKCAMA and Bloomberg Host Seventh Annual Offshore China Fund Awards

Hong Kong – Bloomberg and the China Asset Management Association of Hong Kong (HKCAMA) announced the winners at their seventh annual Offshore China Fund Awards in Hong Kong. Leading Chinese asset managers and industry leaders across the region attended the virtual awards ceremony, where a total of 39 awards were distributed to firms for their performance and contributions to China’s offshore fund industry. The award rankings, calculated using proprietary methodologies from data compiled by Bloomberg, are available on the Bloomberg Terminal.

Keynote speeches were delivered by Paul Chan, GBM, GBS, MH, JP, Financial Secretary of Hong Kong SAR Government, Christopher Hui, JP, Secretary for Financial Services and the Treasury, Christina Choi, Executive Director, Securities and Futures Commission Investment Products Division and Madam Lian Shaodong, Chairperson of HKCAMA.

Paul Chan, Financial Secretary of the Hong Kong Special Administrative Region, noted in his speech, “The industry in general has performed in excellence, despite the continuing challenges of the COVID-19 pandemic. At the end of 2020, your sector’s funding totalled nearly HK$35 trillion, up 21%, year on year. He added, “Our goal is clear – to develop Hong Kong into an international asset- and wealth-management centre. That vision is being realised through the industry’s top-class professionalism and the continuing support of the governments in Hong Kong and cities in the
Guangdong-Hong Kong-Macao Greater Bay Area, together with Mainland regulators.”

Christopher Hui, JP, Secretary for Financial Services and Treasury, said, “Through this industry’s efforts, we have witnessed in recent years fast economic growth and wealth creation in Asia, an increase in portfolio allocation to the Asian markets and deepening financial market liberalisation in the Mainland.” He also added in his remarks that the Hong Kong SAR government is prepared to sharpen its competitive edge in the asset and wealth management area through a multi-pronged approach, including enhancing the diversification of fund structures, providing a new registration regime for funds and creating a favourable tax environment.

Christina Choi, Executive Director, Securities and Futures Commission Investment Products Division, noted that despite Hong Kong facing enormous challenges arising from the pandemic, Chinese fund managers have continued to deliver strong performance and make invaluable contributions to the industry. And despite travel restrictions due to COVID, participation in the newly launched Greater Bay Area Wealth Management Connect scheme have demonstrated a steady uptake. She believes that with a strong understanding of Mainland investors’ needs, Chinese fund managers are in a good position to capture opportunities from this scheme.

She also urged the industry to comply with new requirements on integrating climate-related risks into their investment and risk management processes and that they will continue to process ESG fund applications under its enhanced ESG Fund product guidance.

This year’s chairperson of HKCAMA, Madam Lian Shaodong commented, “With the recent launch of the Southbound Bond Connect and the Wealth Management Connect, Hong Kong’s position as a premier hub for cross-border investment and asset management has been further solidified. Chinese asset management institutions have embraced this by capturing new opportunities and developing exciting new products.” She added, “We are proud to continue hosting these awards with Bloomberg, where its financial data and advanced trading technology have provided the offshore China fund community with the tools to flourish.”

Dahai Wang, Head of Greater China for Bloomberg said, “It’s an honour to be hosting these long-running awards with HKCAMA and to recognise the very best performers among the industry. It is clear that Hong Kong’s role as the primary gateway into China cannot easily be replaced, and the economic forces that shaped its role as a premier financial centre are still very much at play.” He added, “With the help of Bloomberg’s technology, insights and data, we hope that the growth of China’s offshore markets will continue to accelerate.”

Bloomberg and HKCAMA congratulate the following 2021 winners: