View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
September 27, 2021

India’s Sanctum Wealth secures $10.5m from The Xander Group

By Verdict Staff

Indian wealth manager Sanctum Wealth has secured around $10.5m in investment from the investment firm The Xander Group.

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

The investment was made through Xander’s Singapore-based financial services arm.

Sanctum started its operations in 2016, following its takeover of Royal Bank of Scotland’s Indian private banking business.

The firm offers investments, estate planning, and real estate and private transactions to high-net-worth (HNW) individuals in India and internationally. It manages some $2.17 bn in HNW client assets.

Sanctum will leverage the new capital to strengthen its operating platform and to expand its client base.

Sanctum CEO Shiv Gupta said: “We are seeing robust growth in our customer franchise, which we expect to continue.

“Our partnership with The Xander Group, with whom we share our core values and see many synergies, should allow us to accelerate our growth and further strengthen our platform.”

The Xander Group founder Sid Yog added: “We are big believers in the structural opportunities being created in the Indian financial services space by a young, upwardly mobile, and entrepreneurial population, against the backdrop of deepening reforms and positive regulatory change. This will result in exponential growth in wealth advisory and management over the next decade.”

Xander has made private, public, credit, and venture investments worth $3bn in India since 2005.

Earlier this month, India-based invest-tech platform dezerv raked in $7m in a seed funding round to grow its team as well as launch and expand its investment technology platform.

In August this year, British banking giant Barclays announced plans to infuse more than $400m to its Indian arm as part of a strategy to ramp up its operations in the country.

The investment was aimed at driving the growth of the bank’s corporate and investment banking and private clients businesses in India.

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Private Banker International