Hong Kong funds industry grows 55%

Hong Kong's role as a fund management hub was cemented in 2003 with management, advisory and private banking activities totalling HK$2.9 trillion ($378 billion), a steep rise over the past three years, which have been flat. In 2001 and 2002, the industry managed HK$1.6 trillion, and in 2000 it managed $1.4 trillion. Last year's inflows reflect the strong performance of Asian - particularly North Asian - markets relative to Europe and North America. Hong Kong attracted HK$1.86 trill…