A survey by Barclays Capital has predicted that Asia's top wealth management markets will grow by up to 17% a year over the next three years.The Barclays Capital Wealth Management Survey includes participants from 40 institutions with more than $3 trillion of assets under management. These firms predict that in three years’ time, they will be managing an estimated $334 billion of assets for South Korean high-net-worth clients, $256 billion for Indian clients and $150 billion for Chinese clients.The survey distinguishes between two clients segments – high-net-worth and mass affluent. High-net-worth clients are defined as those with assets under management of $500,000 and above, while mass affluent clients are those with assets under management of $100,000-500,000.For the mass affluent segment, the survey predicts that China will be the largest market in Asia with an estimated $93 billion of assets under management, followed by Korea and India with $50 billion each.Participants in the survey also forecast double-digit growth in assets under management across the region. Asset growth is expected to reach 17% a year in both India and Korea over the next three years. China is expected to grow by 14%, southeast Asia and Taiwan by 13%, Hong Kong by 11% and New Zealand by 10%. The survey also found equity to be the preferred asset class for high-net-worth individuals, followed by credit and debt-related products.
More on Foreign Exchange
Target redemption forwards declining in popularity for macro reasons
EC ‘forgets’ to mention sterling in letter defining forex contracts
Target redemption forwards with capped loss structure set for launch
CNT fixing will be a boon for Taiwan’s derivatives market
Sign up for Risk.net email alerts
Sponsored webinar: IBM Risk Analytics
Nominated for two technology awards
Nominated for post trade technology award
Sponsored webinar: Collateral and counterparty tracking
There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.