Best for discretionary portfolio management in Hong Kong 2023
BNP Paribas Wealth Management
BNP Paribas Wealth Management wins two of Asiamoney’s private banking awards for Hong Kong in 2023: best for discretionary portfolio management and best for philanthropic services.
The dual wins are no surprise as BNP Paribas brings its extensive experience in managing investments across Asia and local knowledge and market insights to the table.
Despite a tough macro environment in 2022 that slammed both equities and bonds, BNPP’s DPM business succeeded in staying close to clients and limiting losses during a decidedly shaky year. The 6.6% loss in BNP’s Bond Opportunity US Dollar fund, for example, paled in comparison to double-digit declines in comparable funds. For many such funds, losses exceeded 20%.
BNPP’s DPM team identified investing in short-dated investment grade bonds as a sweet spot that appealed to its client base. Within a short period after its launch in September 2022, the short duration bond mandate saw over $100 million of inflows.
BNPP’s strategists and relationship managers in Asia are redoubling their interactions with clients with transparent and timely monthly updates and flashes.
In many cases, clients responded by topping up investments with the bank, whose Asia Pacific wealth management business is led by CEO Arnaud Tellier.