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HK fund industry asset drops 10 pct to $1.2 trillion-survey
July 16, 2012 / 10:04 AM / 5 years ago

HK fund industry asset drops 10 pct to $1.2 trillion-survey

HONG KONG, July 16 (Reuters) - Assets managed by Hong Kong’s fund management industry dropped 10.4 percent in 2011 to HK$9 trillion ($1.2 trillion), an annual survey by the market regulator the Securities and Futures Commission released on Monday showed.

Asset management and fund advisory firms held HK$6.2 trillion, down about 15 percent from a year ago, with institutions, private banks and insurance companies accounting for the rest.

Foreign investors contributed 63.3 percent of the assets, excluding real estate investment trusts.

For a copy of the survey, click on: here ($1 = 7.7573 Hong Kong dollars) (Reporting by Nishant Kumar; Editing by David Holmes)

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