Millionaires are not hard to come by in Hong Kong, so the recent wild ride in global stock markets has thrown up serious challenges for what is a reasonable-size chunk of the population.
Lowering risk in an uncertain climate has been one of those challenges, top asset managers told CNBC.
"One of the main questions for many investors who are relatively conservative is how to sensibly invest in today's low interest rate and high stock market volatility environment," Alois Mueller, head of Wealth Management North Asia at Rothschild Hong Kong, said.
"A sensible alternative is to add a few solid high dividend stocks, but recent market volatility, especially in the local markets here, have made investors nervous."
In the past, Hong Kong's high net worth individuals (HNWIs) have relied on carry trades as a relatively safe investment.
Mueller noted: "Many clients over the past few years have invested in alternative currencies - AUD, CAD and the like - as a result of the low interest rates on USD bonds and HKD cash deposits. In many cases, this provided them not only with a higher coupon than in USD/HKD, but also the chance of a currency appreciation."
"This has changed dramatically with the U.S. dollar strengthening over the recent past, and so this apparently low-risk option has gone away, and in some cases led to painful losses."
Once asset class Hong Kong's HNWIs - a group that numbered almost 194,000 last year, according to Knight Frank's Wealth Report 2015 - are now looking to for security is property, particularly as Hong Kong's wealthy are typically keen to invest their money where it can also be passed down to the next generation.
Now, with local property prices expected to rise, HNWIs are increasingly investing in foreign real estate.