Asia’s private wealth market is to reach
$15.81trn by 2015 with the number of high net worth individuals
(HNWIs) rising to 2.82m, a Julius Baer study predicts.
The Julius Baer Wealth Report
estimated the number of Asian HNWIs in 10 core countries will more
than double by 2015 from its present level of 1.16m.
Go deeper with GlobalData
It forecasts combined wealth will almost
triple over the same period.
These figures differ significantly from Boston
Consulting Group’s (BCG) estimates of Asian HNWI forecasts which
put total HNWI wealth in Asia at $37.3trn by 2015.
Julius Baer’s research excluded Japan and
Australasia which are included in the BCG study.
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By GlobalDataIndonesia to grow
25%
Indonesia is expected to show the highest HNWI
growth rate, up 25% over a five year period to 99,000, with
combined wealth of $487bn by 2015.
China alone is predicted to have 1.4m HNWIs
with combined wealth of $8.76trn by 2015, according to the Baer
report.
Rising currencies across Asia could create
600,000 new US dollar-based millionaires by 2015.
Baer’s report also confirmed that Asia-based
investors generally have a higher proportion of equities relative
to other regions in their portfolios but lower home bias (almost
50%) than Europe-based investors.
Focus on 10 core
countries
The report focused on China, India, South
Korea, Thailand, Taiwan, Indonesia, Singapore, Hong Kong, Malaysia
and the Philippines.
It was conducted in conjunction with CLSA,
Asia’s independent brokerage and investment group.
