PwC Asset & Wealth Management Revolution APAC Report 2026: Singapore AUM – $4.6 Trillion, Hong Kong AUM – $4.5 Trillion, Global Client Assets in 2024 – $107.2 Trillion, Client Assets by Segment in 2024 – Pension $6 Trillion, Insurance $12.6 Trillion, Sovereign Wealth Funds $5.2 Trillion, HNWIs $35 Trillion, Mass Affluents $48.5 Trillion, Client Assets Penetration Rate for Funds (Mutual Funds, Mandates & Alternatives) – 21.7%, APAC AUM in 2024 – $23.2 Trillion, APAC AUM in 2024 by Products – Mutual Funds $11.5 Trillion, Mandates $7.8 Trillion, Alternatives $3.9 Trillion, Top 9 APAC AUM in 2024 by Location – China $8.6 Trillion, Japan $6.1 Trillion, Australia $2.9 Trillion, Hong Kong $1.8 Trillion, Singapore $1.1 Trillion, South Korea $1.1 Trillion, India $900 Billion, Taiwan $400 Billion
25th June 2026 | Hong Kong
PwC has released the PwC Asset & Wealth Management Revolution APAC Report 2026, providing key insights in global client assets & APAC asset management industry. Singapore AUM – $4.6 trillion. Hong Kong AUM – $4.5 trillion. Global Client Assets in 2024 – $107.2 trillion. Global Client Assets in 2030 (Forecast) – $154.3 trillion. Client Assets by Segment in 2024 – Pension $6 trillion, Insurance $12.6 trillion, Sovereign Wealth Funds $5.2 trillion, HNWIs $35 trillion, Mass Affluents $48.5 trillion. Client Assets Penetration Rate for Funds (Mutual Funds, Mandates & Alternatives) – 21.7%. APAC AUM in 2024 – $23.2 trillion. APAC AUM in 2030 (Forecast) – $34.5 trillion. APAC AUM in 2024 by Products – Mutual Funds $11.5 trillion, Mandates $7.8 trillion, Alternatives $3.9 trillion. Top 9 APAC AUM in 2024 by Location – China $8.6 trillion, Japan $6.1 trillion, Australia $2.9 trillion, Hong Kong $1.8 trillion, Singapore $1.1 trillion, South Korea $1.1 trillion, India $900 billion, Taiwan $400 billion. Asset Management Revenue in 2024 – $120.5 billion. Asset Management Revenue in 2024 by Product – Passives 55.4%, Active Private 36.8%, Private Markets 7.8%. Top 5 Megatrends impacting asset management strategy in last 5 years – Technological Disruption, Global Fractures (Geopolitics, Trade), Demographic Change, Energy Transition, Social Instability. Top 4 Primary drivers of fee pressure in asset management industry – Rising competition, Client negotiations, Shift to passives, New mandates with lower fees. Top 4 reasons to decrease fees in last 5 years – Remain competitive, Align with competitors, Attract new clients, Prevent client outflow. 4 Models for create value & secure revenue – Hypermarkets, Solutions platforms, Low-cost manufacturers & Niche champions. Top 3 Investment themes for younger clients – ESG, Technology / Digital Assets, Climate Change. Top 4 Most effective communication channel for younger clients – Social Media, Email Newsletters, Online Platforms, Mobile Apps. See below for key findings & summary | View report here
“ PwC Asset & Wealth Management Revolution APAC Report 2026: Singapore AUM – $4.6 Trillion, Hong Kong AUM – $4.5 Trillion, Global Client Assets in 2024 – $107.2 Trillion, Client Assets by Segment in 2024 – Pension $6 Trillion, Insurance $12.6 Trillion, Sovereign Wealth Funds $5.2 Trillion, HNWIs $35 Trillion, Mass Affluents $48.5 Trillion, Client Assets Penetration Rate for Funds (Mutual Funds, Mandates & Alternatives) – 21.7%, APAC AUM in 2024 – $23.2 Trillion, APAC AUM in 2024 by Products – Mutual Funds $11.5 Trillion, Mandates $7.8 Trillion, Alternatives $3.9 Trillion, Top 9 APAC AUM in 2024 by Location – China $8.6 Trillion, Japan $6.1 Trillion, Australia $2.9 Trillion, Hong Kong $1.8 Trillion, Singapore $1.1 Trillion, South Korea $1.1 Trillion, India $900 Billion, Taiwan $400 Billion “
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PwC Asset & Wealth Management Revolution APAC Report 2026: Singapore AUM – $4.6 Trillion, Hong Kong AUM – $4.5 Trillion, Global Client Assets in 2024 – $107.2 Trillion, Client Assets by Segment in 2024 – Pension $6 Trillion, Insurance $12.6 Trillion, Sovereign Wealth Funds $5.2 Trillion, HNWIs $35 Trillion, Mass Affluents $48.5 Trillion, Client Assets Penetration Rate for Funds (Mutual Funds, Mandates & Alternatives) – 21.7%, APAC AUM in 2024 – $23.2 Trillion, APAC AUM in 2024 by Products – Mutual Funds $11.5 Trillion, Mandates $7.8 Trillion, Alternatives $3.9 Trillion, Top 9 APAC AUM in 2024 by Location – China $8.6 Trillion, Japan $6.1 Trillion, Australia $2.9 Trillion, Hong Kong $1.8 Trillion, Singapore $1.1 Trillion, South Korea $1.1 Trillion, India $900 Billion, Taiwan $400 Billion
PwC has released the PwC Asset & Wealth Management Revolution APAC Report 2026, providing key insights in global client assets & APAC asset management industry. See below for key findings & summary | View report here
PwC Asset & Wealth Management Revolution APAC Report 2026
Summary:
- Singapore AUM – $4.6 trillion
- Hong Kong AUM – $4.5 trillion
- Global Client Assets in 2024 – $107.2 trillion
- Global Client Assets in 2030 (Forecast) – $154.3 trillion
- Client Assets by Segment in 2024 – Pension $6 trillion, Insurance $12.6 trillion, Sovereign Wealth Funds $5.2 trillion, HNWIs $35 trillion, Mass Affluents $48.5 trillion
- Client Assets Penetration Rate for Funds (Mutual Funds, Mandates & Alternatives) – 21.7%
- APAC AUM in 2024 – $23.2 trillion
- APAC AUM in 2030 (Forecast) – $34.5 trillion
- APAC AUM in 2024 by Products – Mutual Funds $11.5 trillion, Mandates $7.8 trillion, Alternatives $3.9 trillion
- Top 9 APAC AUM in 2024 by Location – China $8.6 trillion, Japan $6.1 trillion, Australia $2.9 trillion, Hong Kong $1.8 trillion, Singapore $1.1 trillion, South Korea $1.1 trillion, India $900 billion, Taiwan $400 billion
- Asset Management Revenue in 2024 – $120.5 billion
- Asset Management Revenue in 2024 by Product – Passives 55.4%, Active Private 36.8%, Private Markets 7.8%
- Top 5 Megatrends impacting asset management strategy in last 5 years – Technological Disruption, Global Fractures (Geopolitics, Trade), Demographic Change, Energy Transition, Social Instability
- Top 4 Primary drivers of fee pressure in asset management industry – Rising competition, Client negotiations, Shift to passives, New mandates with lower fees
- Top 4 reasons to decrease fees in last 5 years – Remain competitive, Align with competitors, Attract new clients, Prevent client outflow
- 4 Models for create value & secure revenue – Hypermarkets, Solutions platforms, Low-cost manufacturers & Niche champions
- Top 3 Investment themes for younger clients – ESG, Technology / Digital Assets, Climate Change
- Top 4 Most effective communication channel for younger clients – Social Media, Email Newsletters, Online Platforms, Mobile Apps
PwC Asset & Wealth Management Revolution APAC Report 2026
1) Singapore & Hong Kong AUM
Singapore & Hong Kong AUM (Assets under Management):
- Singapore AUM – $4.6 trillion
- Hong Kong AUM – $4.5 trillion
2) Global Client Assets
Global Client Assets:
- 2020 – $92.1 trillion
- 2022 – $93.9 trillion
- 2024 – $107.2 trillion
- 2030 Forecast – $154.3 trillion
Client Assets by Segment in 2024:
- Pension – $6 trillion
- Insurance – $12.6 trillion
- Sovereign Wealth Funds – $5.2 trillion
- HNWIs – $35 trillion
- Mass Affluents – $48.5 trillion
- Total – $107.2 trillion
Client Assets Penetration Rate for Funds*:
- 2020 – 21.6%
- 2022 – 21.5%
- 2024 – 21.7%
- 2030 Forecast – 22.4%
*Mutual Funds, Mandates & Alternatives
3) APAC Mutual Funds, Mandates & Alternatives AUM
APAC AUM:
- 2020 – $19.9 trilion
- 2022 – $20.2 trillion
- 2024 – $23.2 trillion
- 2030 Forecast – $34.5 trillion
Note ~ Data excludes Funds of Funds & Secondaries
APAC AUM in 2024 by Products:
- Mutual Funds – $11.5 trillion
- Mandates – $7.8 trillion
- Alternatives – $3.9 trillion
- Total – $23.2 trillion
APAC AUM in 2024 by Location:
- China – $8.6 trillion
- Japan – $6.1 trillion
- Australia – $2.9 trillion
- Hong Kong – $1.8 trillion
- Singapore – $1.1 trillion
- South Korea – $1.1 trillion
- India – $900 billion
- Taiwan – $400 billion
- Other – $500 billion
APAC AUM in 2030 (Forecast):
- Mutual Funds – $11.5 trillion
- Mandates – $7.8 trillion
- Alternatives – $3.9 trillion
- Total – $34.5 trillion
4) Asset Management Revenue
Revenue:
- 2017 – $71 billion
- 2018 – $74.9 billion
- 2019 – $84.9 billion
- 2020 – $94.5 billion
- 2021 – $108.8 billion
- 2022 – $101.3 billion
- 2023 – $102.2 billion
- 2024 – $120.5 billion
- 2030 Forecast – $167.9 billion
Revenue in 2024 by Product:
- Passives – $66.7 billion
- Active Private – $44.4 billion
- Private Markets – $9.4 billion
Note ~ Private Markets revenue includes management fees & carried interest. Private Markets excludes Hedge Funds.
Revenue in 2024 by Product:
- Passives – 55.4%
- Active Private – 36.8%
- Private Markets – 7.8%
5) Asset Management Industry Insights
Top 5 Megatrends impacting asset management strategy in last 5 years:
- Technological Disruption – 77%
- Global Fractures (Geopolitics, Trade) – 58%
- Demographic Change – 48%
- Energy Transition – 39%
- Social Instability – 26%
Top 4 Primary drivers of fee pressure in asset management industry:
- Rising competition – 50%
- Client negotiations – 26%
- Shift to passives – 15%
- New mandates with lower fees – 10%
Top 5 Main reasons to decrease fees in last 5 years:
- Remain competitive – 85%
- Align with competitors – 76%
- Attract new clients – 71%
- Prevent client outflow – 24%
- Respond to investors pressure or feedback – 18%
4 Models for create value & secure revenue:
- Hypermarkets: scaled, multi-asset firms spanning public & private markets with integrated advice
- Solutions platforms: outcome-led, often open-architecture platforms embedded in the client journey
- Low-cost manufacturers: low-cost providers of beta & simple building blocks
- Niche champions: specialists with deep advantage in a specific segment or capability
6) Younger Clients Insights
Investment themes for younger clients:
- ESG – 73%
- Technology / Digital Assets – 73%
- Climate Change – 53%
- Equity & Diversity – 27%
- Passive / Low-Cost Strategies – 20%
Most effective communication channel for younger clients:
- Social Media – 47%
- Email Newsletters – 20%
- Online Platforms – 20%
- Mobile Apps – 13%
- In-Person – 0%
PwC Asset & Wealth Management Revolution APAC Report 2026
Preface – In this report, we’ve set out the competitive imperatives needed to outpace and outperform your competitors in a regional market that’s opening up fast but defies generalisation or blanket strategies. The AWM organisations out in front are clear about where and how to compete—which markets, which product lines, and which client segments. This clarity is enabling them to target investment where it can make a decisive difference and reinforce their right to win. This clarity is also enabling the front-runners to move at pace. First or early-mover advantage holds the key to realising almost all the opportunities we’ve described in this report—especially the most profitable ones. The big question for your organisation is whether you have the same level of clarity and confidence in your business model and the capabilities needed to deliver it. As markets evolve, the strategic choices and actions you make now will determine how much of the US$47 billion revenue prize you’ll be able to share.
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