Lina Lim to leave HSBC Private Bank
Allen Chiu, head of discretionary and funds specialists, Hong Kong, will cover Lim’s role on an interim basis.
Wealthy investors are also broadening their portfolios for long-term growth.
Affluent investors in Asia are adjusting return expectations while continuing to pursue long-term wealth growth. They are doing this through broader portfolio diversification, international market exposure and growing use of artificial intelligence (AI) in investment research and decision-making, according to the DBS Treasures Affluent Investment Survey 2026.
“Wealthy investors in Hong Kong and Chinese Mainland remain cautious about market prospects, but optimistic about long-term wealth creation opportunities despite an uncertain economic environment,” the survey found.
Expected annual returns among Hong Kong investors eased to 7.9% from 8.4% in 2025, while expectations among Chinese Mainland investors fell to 8.1% from 10.1%. At the same time, long-term wealth growth has become a more important objective for investors, with 66% of them naming it as their most important wealth goal, up from 57% a year ago.
As a result, affluent investors in Hong Kong and Mainland China are broadening their portfolios. Stocks remained the largest portfolio holding in 2026, rising 1.8 percentage points year-on-year to 41%, while alternative investments recorded the strongest growth, increasing 10.3 percentage points to become the second-largest asset class at 18% of portfolios.
Allocations to exchange-traded funds (ETFs) also increased, while exposure to investment and mutual funds declined, reflecting investors’ growing preference for a broader mix of asset classes.
The survey, conducted between June and July 2026, included 1,617 individuals across Hong Kong and Chinese Mainland, with a minimum of HKD/RMB 1 million in assets in their respective markets.
Amy Kwan, head of business planning, customer segment and ecosystem, consumer banking group & wealth management, DBS Hong Kong said: “The survey shows that affluent investors remain invested and opportunity seeking despite ongoing market volatility. While they continue to pursue wealth growth, they are increasingly balancing this with greater diversification and risk management.
The growing emphasis on portfolio diversification is reflected in the broader range of investment products held by affluent investors. On average, investors hold 4.5 product types, with Chinese Mainland investors recording a notable increase from 3.9 to 4.5 product types.
Investment preferences also vary across markets, with Chinese Mainland showing a stronger preference for insurance products, while Hong Kong investors continue to favour stocks. Across both markets, stocks, insurance, gold, foreign currency and investment funds remain the five most widely held investment products.
AI and technological innovation, yield-generating assets, and healthcare emerged as attractive investment themes among affluent investors.
Investors are increasingly turning to AI tools to better understand investment products, monitor market developments and compare risks and potential returns.
“We are also seeing AI become an important tool to support investment research and decision-making, while investors continue to value professional advice from relationship manager for more complex wealth planning needs,” Kwan said.
While both Hong Kong and Chinese Mainland investors increased allocations to alternative assets, their investment preferences diverged. Hong Kong showed a stronger shift towards stocks, while Chinese Mainland investors were more inclined to increase ETF holdings. Looking ahead, Chinese Mainland investors are most likely to expand exposure to gold and virtual assets, whereas Hong Kong investors continue to favour, stocks and commodities, the survey concluded.
The survey also highlighted Hong Kong’s continued competitiveness as an international wealth management centre, with 63% of affluent Chinese Mainland already holding an account in Hong Kong.
Nearly three in four investors have exposure to overseas markets, with Hong Kong serving as the leading offshore investment destination for Chinese Mainland investors.
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Facts Only
* Lina Lim will leave HSBC Private Bank.
* Allen Chiu will cover Lina Lim’s role on an interim basis in Hong Kong.
* Affluent investors in Asia are adjusting return expectations while pursuing long-term wealth growth through diversification, international exposure, and AI use in investment research.
* Expected annual returns for Hong Kong investors eased to 7.9% from 8.4% in 2025.
* Expected annual returns for Chinese Mainland investors fell to 8.1% from 10.1%.
* 66% of affluent investors named long-term wealth creation as their most important wealth goal, up from 57% a year prior.
* Stocks constituted 41% of portfolio holdings in 2026, an increase of 1.8 percentage points year-on-year.
* Alternative investments grew by 10.3 percentage points to become the second-largest asset class at 18%.
* Allocations to ETFs increased; exposure to investment and mutual funds declined.
* Hong Kong investors favor stocks, while Chinese Mainland investors showed a stronger preference for insurance products.
* Stocks, insurance, gold, foreign currency, and investment funds remain the five most widely held investment products across both markets.
* AI, yield-generating assets, and healthcare emerged as attractive investment themes.
Executive Summary
Wealthy investors in Asia are adjusting their investment strategies by pursuing long-term wealth growth while incorporating broader portfolio diversification, increased international market exposure, and the growing use of artificial intelligence for research. This adjustment is occurring amidst continued caution regarding market prospects across Hong Kong and Mainland China. Among investors, expectations for annual returns have moderated; specifically, expected annual returns for Hong Kong investors eased to 7.9% from 8.4% in 2025, and for Chinese Mainland investors fell from 10.1% to 8.1%. A significant shift is observed in investor objectives, as long-term wealth growth has become a more prioritized goal, with 66% of affluent investors naming it as their most important wealth objective.
To facilitate this diversification, portfolio composition has shifted; stocks remained the largest holding in 2026 at 41%, while alternative investments grew to 18% of portfolios, marking the strongest growth segment at 10.3 percentage points. Allocations to exchange-traded funds (ETFs) increased, while exposure to investment and mutual funds declined, indicating a preference for a wider mix of asset classes. Investment preferences vary by market: Hong Kong investors favor stocks, while Chinese Mainland investors showed a stronger inclination towards insurance products. Attractive investment themes include AI, yield-generating assets, and healthcare, with investors increasingly using AI tools for research and decision-making while retaining professional advice for complex planning.
Full Take
The narrative presents a tension between lingering market caution and an active pursuit of growth through strategic structural changes in investing. The shift toward long-term wealth focus, evidenced by the majority prioritizing it, suggests that short-term volatility is less paralyzing than the perceived risk of missing long-term compounding opportunities. This rebalancing—moving capital into alternatives and international exposure—signals a demand for risk mitigation layered with aspirational returns.
The divergence in asset preference between Hong Kong (favoring stocks) and Mainland China (leaning towards ETFs and insurance) reveals that while the overarching theme is diversification, localized market realities and regulatory environments dictate specific investment vehicles. The rise of AI as an essential tool underscores a systemic shift where information processing efficiency is now a primary competitive advantage in wealth management. This implies that success in affluent investment circles will increasingly depend less on traditional asset allocation models and more on the ability to integrate complex technological research with personalized advisory services.
The underlying pattern suggests that sophisticated investors are not merely reacting to economic uncertainty but are proactively constructing resilient portfolios by seeking assets with superior growth profiles (alternatives) while using technology (AI) to manage the associated risks. The fact that Hong Kong maintains its position as a key offshore hub, coupled with Mainland preference for gold and virtual assets, implies a segmentation of risk appetite based on geopolitical perception. The implication is that future investment success hinges on the successful synthesis of macro-economic stability, technological adoption, and localized regulatory navigation.
Bridge Questions: How will regulatory divergence between Hong Kong and Mainland China affect the ability of affluent investors to implement synchronized diversification strategies? What are the non-quantifiable risks associated with over-reliance on AI tools for complex wealth decision-making? If long-term growth becomes the dominant goal, how can institutions structure risk management frameworks that account for divergent regional asset appetites?
Sentinel — Human
The article appears to be a synthesis of specific data from an investment survey, framed by personnel changes, which points toward standard financial reporting rather than pure synthetic generation.