Hong Kong family offices are increasingly incorporating philanthropy into their investment strategies, aligning with global trends. While these offices primarily focus on wealth preservation for future generations, philanthropy offers a way to reflect family values through impact investments and legacy building.
Despite Hong Kong hosting over 2,700 family offices and 15,000 charities, the Doing Good Index 2024 shows that only 8% of social organizations in the city receive ongoing capacity-building support, lower than the Asian average of 15%.
Experts like Kithmina Hewage from the Centre for Asian Philanthropy and Society, and Jason Fong from InvestHK, highlight the benefits of philanthropy, not just for the community but also for the families and their businesses.
Hewage emphasizes Hong Kong’s strong philanthropic culture but notes there is potential for more. Fong stresses the importance of a well-defined philanthropic mission that aligns with family values and social priorities.
However, measuring the impact of philanthropy can be challenging, as it may conflict with the metrics-focused approach of many businesses. Despite this, philanthropy can strengthen family bonds across generations, as indicated by KPMG’s 2021 Global UHNWI Philanthropy White Paper.
The Kadoorie and Lee Hysan families exemplify how philanthropy, through ventures in environmental conservation, education, and healthcare, can have a lasting impact across generations.
