LONDON--(BUSINESS WIRE)--The Wealth Management in Asia Report released today by leading financial and professional services information provider, VRL, finds that the number of High Net Worth Individuals (HNWIs) in the Asia-Pacific region has risen to 3.3 million, surpassing Europe’s 3.1 million and just behind America where HNWIs total 3.4 million. 52.5 percent of Asian HNWIs are based in China or Japan, the region’s two largest economies.
The growth in the number of HNWIs and concurrent rise of their Assets Under Management (AUM) has seen an increase in local and global wealth management firms operating in the region, offering new products and services tailored to the Asia-Pacific demographic. 53 percent of financial assets are invested in either property or equity based products. In spite of a low interest rate environment, the fixed income asset class is also significant, accounting for 22 percent of regional asset allocation.
James Duckworth, Reports Editor for VRL commented: “Financial power has been shifting towards Asia for the past twenty-five years. The commodity and manufacturing boom over much of the last decade in particular has fuelled a large part of the rise in the number of Asian HNWIs. The market response has been an expansion in the number and range of products and services being offered in, and it presents a huge opportunity for banking and financial service providers. This report will aid anyone in the market with an interest in servicing this valuable sector.”
This report looks at the state of a number of the regional markets including Singapore, South Korea, Indonesia, India and Malaysia and is supported by an extensive number of charts and tables. The Wealth Management in Asia report profiles characteristics and specific preferences of HNWIs in Asia-Pacific and presents significant data on how banks and financial institutions, both local and international, service the complex and demanding needs of HNWIs in the region.
For further details on VRL reports please email michelle@c8consulting.co.uk or visit: http://www.vrl-financial-news.com/reports.