Hang Seng Bank (0011) and its mainland unit will expand their products under the cross-boundary Wealth Management Connect scheme to over 320 varieties for all eligible investors in the Greater Bay Area as the scheme’s expansion is set to launch today.
The increased number of available products offered by the bank marks a 100 percent growth since the scheme first rolled out in 2021, according to a statement.
The diverse product suite is tailored to meet the varied investment objectives and risk preferences of customers, the local lender said, among which investment funds in Greater China equity will be expanded from ‘low to medium’ risk rating to all risk ratings.
The bank added it saw accounts opened by mainland investors, as the scheme increased threefold last year compared to the previous year.
Earlier last week, DBS Hong Kong said the number of its products for mainland investors will surge to 220.
Meanwhile, the Industrial and Commercial Bank of China (Asia) said its products for mainland investors will jump by 85 percent to 189.
Last September, mainland and Hong Kong authorities said the scheme would be expanded to broaden the scope of eligible products and increase the individual investor quota.
Hong Kong United Times丨香港聯合時報丨HKUT 