Assets controlled by Hong Kong fund managers rose to a three-year high of HK$17.68 trillion (US$2.28 trillion) at the end of 2014.
The figure is up 10.5 percent from a year earlier, according to the Hong Kong Economic Journal which cited a survey by the Securities and Futures Commission (SFC).
Chinese fund managers accounted for HK$986.8 billion of the assets.
At the end of March, Hong Kong had 594 registered funds, up from 469 in the same period last year.
Securities regulators approved 91 funds under the renminbi qualified foreign investor scheme and Shanghai-Hong Kong Stock Connect in the five months to May.
SFC executive director Julia Leung expects more funds to register in Hong Kong with when cross-border mutual recognition of funds comes into force.
Sally Wong, chief executive of the Hong Kong Investment Funds Association urged the government to strengthen the industry’s legal framework to allow more choices market players.
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