Investor Presentaiton
Introduction
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HKEx has completed several surveys in recent years relating to investor
participation in the HKEx markets. The Securities and Futures Commission
(SFC) has also published two related surveys conducted in 2003. In addition,
in 2002 the Hong Kong Investment Funds Association (HKIFA) published
relevant findings on retail participation in investment funds. The findings from
these surveys are the pieces of a jig-saw which, when combined, form a picture
of the characteristics and behavior of the investor population in the Hong Kong
securities and derivatives markets.
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By combining the findings from the different surveys – albeit that these are of
differing scope, time frame and reliability – this paper seeks to give an overall
picture of the characteristics and behavior of the investor population in the
Hong Kong securities and derivatives markets. Such picture of the major client
group should be helpful to market development and promotional work.
Survey References
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HKEx surveys adopted in this paper include:
Cash Market Transaction Surveys (CMTS), since 1990/91
Derivatives Market Transaction Surveys (DMTS), since 2000/01
Retail Investor Surveys (full-scale and omnibus) (RIS & ORIS), since
1989
Primary Market Survey (PMS) 2001/02
SFC surveys adopted in this paper include:
Retail Investor Survey 2003 (SFC-RIS)
Investor Survey on Investment Research Activities, Nov 2003 (SFC-
IRA)
HKIFA survey adopted in this paper includes:
Investor Survey 2002 (IFA-IS)
It must be noted that the interpretations made in this paper are subject to the
limitations of the respective surveys. Readers are advised to refer to the
respective survey reports for further details of the findings and the survey
limitations.View entire presentation