Welcome to Fund Selector Asia's inaugural DPM Morning Briefing Hong Kong.
At FSA, we believe discretionary portfolio management should sit at the heart of all true wealth management. It is the logical separation of the duties of the investor and the wealth manager. Investors should be encouraged to place their trust in professionals who can construct suitable portfolios that match their risk and outcome requirements. Our morning briefing today has that overall theme in mind. Although the presentations will focus on specific fund ideas, it is the positions within potential portfolios that will also garner our attention and discussion.
Asia has been slower than Europe, the UK or the US to adopt discretionary services for excellent structural reasons, most logically, that enormous wealth is currently being created by first generation entrepreneurs who are very much in control of their wealth creating destinies. In due course, that wealth will transition to the scions of the families and will require careful nurturing if the wealth is to endure as it has in Europe, the UK and US. FSA fully expects discretionary services to cover more than half of all wealth management for HNWIs in Asia within the next 25 years. Today we begin a formal conversation that, we believe, has years to run.