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Russia’s ultra wealthy to wait out crisis

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The number of wealthy Russian investors employing a conservative wealth management strategy has more than quadrupled in two years. 

The findings come from a new report on Russian wealth holders, one of the most discreet communities worldwide, titled The UBS / Campden Wealth Russian Entrepreneurship Report 2015, released by Campden Wealth Research, in partnership with UBS.

Twenty three per cent of participants said their wealth management objective was to preserve wealth, while 42% employed a balanced approach, and 35% sought growth. Two years ago, the figure seeking wealth preservation was 5%.

One investor quoted in the report said the “current situation” had impacted the way they managed their money. “I had to change my investment strategy to become conservative; instead of growth I currently prioritise the protection of the investments, and I aim to minimise risks.”

The research surveyed 30 Russian wealth holders, with individual private wealth ranging from USD 2-50 million to USD 1 billion. In total, the 30 Russian-national participants in this study represent over USD 2.5 billion of personal Russian wealth, and USD 6.5 billion of business turnover in 2014, reflecting a diverse range of industries.

“While Russian wealth holders are set to maintain business ownership despite the economic downturn, with some opting to move away from Russia in the long term, as a group, Russian wealth holders are becoming more conservative with their private wealth. It is paramount for financial service providers to secure the achievements of this entrepreneurial generation of Russian business leaders,” says Dominic Samuelson, Chief Executive Officer of Campden Wealth.

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