Published on 26 Apr 2023 on Insider Monkey via Yahoo Finance
In this article, we discuss 10 best asset management stocks to buy according to hedge funds. If you want to see more stocks in this selection, check out 5 Best Asset Management Stocks To Buy According To Hedge Funds.
Although many countries recovered from the COVID-19 pandemic in 2022, the global economy faced challenges due to the war in Ukraine and rising inflation, which many economies were attempting to control. In Hong Kong, Covid-related restrictions continued to limit normal business operations. Given the market volatility in 2022, it's not unexpected that the asset management sector faced a challenging year, with all types of assets experiencing losses.
The asset management sector outlook is looking positive, as per KPMG’s latest report on the asset management and private equity sector in 2023. Hong Kong is gradually returning to normal business operations as Covid restrictions are lifted, and the easing of restrictions in mainland China has removed a significant obstacle to asset management activity, particularly in private equity. Despite ongoing geopolitical and economic uncertainty, there is a general expectation that there will be a return to relative normality in the latter part of 2023, assuming no further global shocks. The asset management sector in Hong Kong and Asia has tremendous potential for growth, with the number of asset managers in the city doubling in the 10 years up to 2021, according to the Securities and Futures Commission.