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January 27, 2011updated 04 Apr 2017 3:51pm

Wealth confidence up 21% among Asian HNW

Wealth confidence across Asia is above the global average, with stronger investor attitudes and a focus on higher money goals for 2011 within the high net worth (HNW) segment Scorpios inaugural 2011 Future Priority report found a majority (81%) of the 1800 Asian millionaires sampled said they would make money in the next 12 months 10% higher than the global average and 21% up on the past 12 months.

By PBI Editorial

Wealth confidence across Asia is above the global average, with stronger investor attitudes and a focus on higher money goals for 2011 within the high net worth (HNW) segment.

Scorpio’s inaugural 2011 Future Priority report found a majority (81%) of the 1800 Asian millionaires sampled said they would make money in the next 12 months – 10% higher than the global average and 21% up on the past 12 months.

 

Confidence variable across Asia

Investor confidence varied by country, with the wealthy in Indonesia, India, Malaysia and China showing higher levels of confidence about growing their wealth in 2011.

The Standard Chartered sponsored report found those in India want to be seen as financial leaders and innovators within their business, mirroring the push in private bank Non-Resident Indians advisory offerings for the Indian HNW segment.

The majority (82%) of respondents in Hong Kong had specific financial goals, but were the least confident about their wealth increasing in the next 12 months among Asian HNW.

 

No ‘one-size-fits-all’ solution

Standard Chartered global head premium banking Foo Mee Har said the report confirmed there was no ‘one size fits all’ solution when it came to understanding the priorities and needs of the wealthy across Asia.

“This target customer is ambitious and confident of their abilities. These individuals are Asia’s lieutenants of industry who aim to become the captains of industry within a short space of time,” said Sebastian Dovey, Scorpio Partnership managing partner.

Scorpio’s study sampled HNW banking clients in 10 different countries with average wealth of $1.3m.

 

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