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Financial leaders need to look beyond traditional markets and embrace Asia's complex transformation, as divergence in Asia is a primary source of alpha for active investors who are all considering where tomorrow's returns will originate, said Chairman of Securities and Futures Commission Kelvin Wong Tin-yau at the 5th Global Financial Leaders' Investment Summit.
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Wong asserted that Hong Kong must never be merely a gateway for capital passing through to Asia. "A gateway is a place you walk through, but a marketplace is a place you stay in," he stated, stressing that Hong Kong should be a venue where global capital comes to understand, price, and partner in Asian transformation.
Noting that the past decade rewarded investments in a small concentration of largely American markets, Wong pointed that past success creates a familiar validation loop of portfolios, assumptions, and expectations, maintaining that complexity in Asia contains the potential for active investors to obtain excess returns.
Against the backdrop of geopolitical tensions, accelerated technological iteration, and varying paces of development among economies, he stated that the greatest opportunities in the future are not expected to come from places where capital is already comfortable, but rather from places with the greatest variables.
