# Principal Asset Management (Asia)

> Principal Asset Management (Asia) is an SEC-registered investment advisory firm in Wanchai, Hong Kong, registered since 2022, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated March 31, 2026.

- CRD: 322390
- Filed as: PRINCIPAL ASSET MANAGEMENT  (ASIA)
- Legal name: Principal Asset Management Company (Asia) Limited
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Wanchai, Hong Kong
- Filing period: October 2026
- Form ADV filing dated: March 31, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/322390
- AdvisorCensus page: https://advisorcensus.com/firm/principal-asset-management-asia-wanchai-322390

## Quick answers

**How is Principal Asset Management (Asia) compensated?**
On its Form ADV (Item 5.E, October 2026), Principal Asset Management (Asia) reports these compensation arrangements: a percentage of assets under its management; fixed fees (other than subscription fees); performance-based fees. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is Principal Asset Management (Asia) located?**
Principal Asset Management (Asia)'s principal office is in Wanchai, Hong Kong, according to its Form ADV; the April 2026 filing also lists 1 other office (Schedule D, Section 1.F).

**Is Principal Asset Management (Asia) registered with the SEC or a state?**
Principal Asset Management (Asia) is an SEC-registered investment advisory firm, registered since 2022. Status as filed: Approved. CRD 322390.

**How much does Principal Asset Management (Asia) manage?**
Principal Asset Management (Asia) reports $14,380,880,456 in regulatory assets under management in its Form ADV filing dated March 31, 2026 (94% discretionary).

**How have Principal Asset Management (Asia)'s assets and staff changed since 2022?**
In the Form ADV data for Principal Asset Management (Asia): Regulatory assets under management: $11,335,296,878 in the October 2022 data and $14,380,880,456 in the October 2026 data, up 27%. Total employees: 15 in October 2022 and 39 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Principal Asset Management (Asia) serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (14); investment companies (10); pension and profit sharing plans (but not the plan participants or government pension plans) (8).

**Which custodians does Principal Asset Management (Asia) use?**
Principal Asset Management (Asia)'s most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Citibank NA as a custodian holding 10% or more of its separately managed account assets.

**Does Principal Asset Management (Asia) report any disciplinary disclosures?**
Reports 2 disclosure items on Form ADV Item 11: yes answers to 11.D(2) (another regulator's finding of a violation) and 11.D(4) (another regulator's order in the past ten years). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/322390

**What changed in Principal Asset Management (Asia)'s recent Form ADV filings?**
In the April 2026 filing data: Updated its list of owners and control persons (Schedule A).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Fixed fees (other than subscription fees)
- Performance-based fees

### Custodians (Schedule D, Section 5.K(3))
- Citibank NA

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $14,380,880,456
- Discretionary: $13,558,514,231
- Non-discretionary: $822,366,225

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | Fewer than 5 | $0 |
| High net worth individuals | Fewer than 5 | $0 |
| Banking or thrift institutions | 1 | $1,988,172,604 |
| Investment companies | 10 | $222,133,659 |
| Business development companies | 0 | $0 |
| Pooled investment vehicles (other than investment companies and business development companies) | 14 | $11,493,589,780 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 8 | $383,865,628 |
| Charitable organizations | Fewer than 5 | $0 |
| State or municipal government entities (including government pension plans) | Fewer than 5 | $0 |
| Other investment advisers | Fewer than 5 | $0 |
| Insurance companies | Fewer than 5 | $0 |
| Sovereign wealth funds and foreign official institutions | 1 | $242,779,698 |
| Corporations or other businesses not listed above | 1 | $50,339,087 |
| Other | 0 | $0 |

### Advisory services (Item 5.G)
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients
- Selection of other advisers (including private fund managers)

### Firm details
- Registered since: 2022 (4 years)
- Employees: 39 total, 30 performing advisory functions
- Wrap fee program participation: No
- Disclosures (Item 11): Reports 2 disclosure items on Form ADV Item 11.

### Item 11 questions answered yes
- 11.D(2): Has another federal regulator, a state regulator, or a foreign financial regulator ever found that the firm or an advisory affiliate was involved in a violation of investment-related regulations or statutes?
- 11.D(4): In the past ten years, has another federal regulator, a state regulator, or a foreign financial regulator entered an order against the firm or an advisory affiliate in connection with investment-related activity?

Each question covers the firm and its advisory affiliates: its current employees other than clerical staff, its officers, partners, and directors, and anyone who controls the firm or is controlled by it. One event can produce yes answers to several questions. SEC-registered advisers and exempt reporting advisers may leave out events more than ten years old, and may answer 11.A(2) and 11.B(2) for pending charges only. The detail of each yes answer is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/322390

### Other offices (Schedule D, Section 1.F), as of the April 2026 filing
- Kwun Tong, Kowloon

### Websites listed on Form ADV (Item 1.I)
- [principal.com.hk](https://principal.com.hk)
- [principalam.com](https://principalam.com)
- [principalasia.com](https://principalasia.com)
- Facebook @PRINCIPALHONGKONG
- LinkedIn @principalhongkong
- YouTube @Principal_HK
- YouTube @UClTlDRehURiz_naxqnSuE4g

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2022 | $11,335,296,878 | 15 | June 29, 2022 |
| October 2023 | $14,155,994,424 | 15 | March 29, 2023 |
| October 2024 | $12,449,027,783 | 41 | September 5, 2024 |
| October 2025 | $13,572,877,144 | 39 | March 31, 2025 |
| October 2026 | $14,380,880,456 | 39 | March 31, 2026 |

Regulatory assets under management: $11,335,296,878 in the October 2022 data and $14,380,880,456 in the October 2026 data, up 27%.
Total employees: 15 in October 2022 and 39 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Principal Asset Management (Asia) (CRD 322390): Form ADV filing data as of October 2026.