When investors want a crystal-clear commentary on Hong Kong’s effervescent financial sector only one voice will do – we present our annual interview with the exceptionally frank and free-wheeling Dr. M.F CHAN.


If great strength is seen in times of great trial then today it is sorely lacking amidst Hong Kong’s embattled finance industry – long hailed as the pillars of Asia’s financial hub. Reeling under the onslaught of local legislation, lack-lustre prospects in other Asian countries, uncertainty in China, erratic movements in commodities and other geo-political issues, the industry can’t decide if it is more exhausted than exasperated. The fittest are adapting by seeking opportunities in overseas markets and expanding into areas of trusts, asset management and insurance. 

New Reality

“The investment environment is not that bad,” says Dr. M. F Chan of Noble Apex Advisors Ltd. “Every industry faces challenges and the key is to overcome them with more ingenuity, hard work and adaptability. Complaining isn’t a solution. Yes, we’ve been through a lot but there is plenty of money around. Investors will find that bonds and equity markets thrive on liquidity so we in a sense are in an asset inflation scenario. Given the current state, most assets will appreciate. I’d say, there’s no point hoarding cash.”

Chan prefers equities to bonds expecting US markets to perform well (around the 10% annual mark) when compared to Europe and Japan. That’s acceptable considering Europe is borderline bankrupt and Japan’s dealing with an aging population, lack of new industries and technology to attract foreign investors.

In Hong Kong, investor’s favourite vehicle – the property market – will keep climbing, Chan says citing an imbalance between supply and demand.

“Currently, there are less than 20,000 new flats being launched each year. When you map that against the increase in population and the shortfall we had over the past ten years, you clearly see the shortage,” he says. “There is no way for the property prices to come down unless we are faced with a recession. We expect prices to rise by at least 10% over the coming year.”

Further Afar

“Given various reasons, many Hong Kongers are looking overseas for investment opportunities and lifestyle options. Countries like Canada, Australia and America are offering better returns and capital gains and more value in terms of lifestyle. These countries welcome foreign investment and investors from China and Hong Kong are showing increasing interest. At Noble Apex, we offer investors a one-stop-shop providing investment advise and direct opportunity to purchase quality property overseas.”

Which are the stronger markets and why? The US has been strong since the financial tsunami, the UK is still attractive as Canada and Australia’s Sydney is stealing the limelight. Closer to home, Shanghai and Beijing will grow given the pace of urbanization and the interest from the expanding affluent class.” 

Days Ahead

Chan says: “At Noble Apex, we’ve stayed true to our name – we don’t encourage speculation but rather prudent portfolio management using our experience, knowledge and resources to benefit our clients. That’s our asset management arm. Aside, we offer a wide range of insurance-related services whereby we help you get the best solutions to meet your needs. We also cater to individuals looking for estate planning, trust services, asset preservation and comprehensive financial planning solutions. We are now looking at the institutional investors markets to offer our expertise in the greater China markets.”

“We are also looking with interest at the local property market and expect it to stay firm. The new HK-Zhuhai-Macau bridge is expected to bring in more people and unless the government increases public and private housing, there will be no fall in the prices.”

Asked about the bullion market, Chan cites a correction as the reason for the recent fall in gold prices. “Nothing rises forever but gold may well cross the USD1500 per ounce mark by end of next year, given that we are still seeing asset inflation”

All in all Chan says the only way to navigate the labyrinths of the financial world is with the help of a tried and tested financial advisor. His firm that’s grown on referral business is a good checkpoint. If you’re looking for someone with the width and depth of experience like he has (to guide your investment strategy) and you have an appetite for straightforward talk, feel free.

For additional information please visit www.nobleapex.com


物競天擇 適者生存

投資者若想聆聽洞悉香港金融行業前景的評論,只需一把聲音 – 讓我們呈獻御峰董事總經理陳茂峰博士坦率的訪談。

香港的金融業被譽為亞洲金融中心的支柱,但今天正處於缺乏能量的艱難環境。本地監管日趨嚴厲、亞洲國家前景欠佳、中國存在不確定性、大宗商品波動異常、還有其他地緣政治問題,使金融業界疲於應對。業內強者早已自我調整,涉足海外市場,並把業務擴展到信託、資產管理和保險領域。

現況

御峰集團的陳茂峰博士表示:「投資環境並不是那麼惡劣。」「每個行業都面臨著挑戰,致勝關鍵是以更多的智謀、努力和適應力來克服這些挑戰。怨天尤人解決不了問題。市場雖然經歷了不少挑戰,但資金依然充裕。投資者將發現債券和股票市場流動性充沛,所以我們在某種意義上是處於資產通貨膨脹。鑑於目前的狀態,大多數資產將會升值。我會說,現在沒有理由囤積現金。」

陳博士看好股票、看淡債券,預期美國股市表現較歐洲和日本優勝,全年回報可達10%。他認為這個回報是可以接受的,因為歐洲多國政府面臨破產邊緣,而日本則要面對人口老齡化及缺乏吸引外資的創新行業和技術。

陳博士認為,投資者最喜歡的香港房地產市場將繼續攀升,皆因樓宇供需嚴重失衡。

「目前,新落成的單位數目每年不足二萬個。當你對照過去十年的人口增長和房屋供應的缺口,可以清楚看到香港房屋問題的癥結。」他說。「除非出現經濟衰退,否則香港樓價難下調。我們預計未來一年香港樓價將攀升至少10%。」

海外機遇

「基於不同原因,很多香港人正在尋找海外投資機會或移徙海外生活。像加拿大、澳洲和美國這些國家,不僅具備更好的回報和資本收益,亦提供了更有價值的生活方式。這些國家歡迎外來投資,令中國和香港的投資者越來越感興趣。御峰的一站式服務,為他們提供物業投資建議和購買優質海外物業機會。」

「哪些是較具潛力的市場?美國自金融海嘯以來一直表現強勁,英國仍然具有吸引力,而加拿大和澳洲悉尼備受追捧。鄰近香港的上海和北京樓市將隨著城市化的步伐和富裕階層擴大而蓬勃發展。」

環觀前瞻

「我們堅守御峰的理念 – 不鼓勵投機。我們的資產管理部門以其經驗、知識和資源,為客戶提供嚴謹的投資組合管理。另外,我們還提供廣泛的保險相關服務,幫助客戶獲得最佳解決方案,以滿足不同的需求。我們開展信託服務,為個人提供遺產規劃、資產保存和綜合財務規劃解決方案。此外,我們現已踏足機構投資者市場,以我們在大中華市場的專長提供相關服務。」陳博士說道。

「我們亦關注本港房地產市場。我們預期它保持穩定。新的港珠澳大橋將帶來更多人流,除非政府增加興建公私營房屋,否則樓價難下調。」

當被問及近期黃金市場價格下跌的原因時,陳博士指出「沒有任何市場能只升不跌,但黃金可能會在明年年底之前跨越每盎司1500美元,畢竟我們是處於資產通貨膨脹時期。」

總括而言,陳博士認為,在金融世界的迷宮裡找出路,要訣是由一位久經考驗的財務顧問引導。如果你正在尋找具有豐富經驗和知識深度的顧問,能夠開心見誠地指導你的投資策略,陳博士的公司御峰理財會是一個很好的選擇。請自便。

如欲知悉更多資料,請瀏覽 www.nobleapex.com


Hong Kong’s Business Leaders share market and interest intelligence in the pages of HKMVC 2017