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Asian HNWIs to hold USD14.4trn in investable assets by 2020, says Julius Baer


The pool of investable assets held by High Net Worth Individuals (HNWI) in Asia could reach USD14.5 trillion by 2020, or a growth of 160 per cent in the current decade, according to Julius Baer’s fifth Annual Wealth Report: Asia.

In addition to the Julius Baer Lifestyle Index, which was launched in 2011 and tracks the costs of goods and services for HNWI in 11 Asian cities, this year’s report also includes forecasts of HNWI wealth creation trends in ten Asian markets for the next five years until 2020. Despite its maturing economy, China’s HNWI wealth is expected to increase to USD8,249.6 billion in 2020, trebling the 2010 figure and making it one of the biggest wealth creation engines in the region. The Philippines and India are also ranked in the top three in terms of HNWI wealth creation.

Boris FJ Collardi (pictured), Chief Executive Officer of Bank Julius Baer, says: “For the first time since 2011, we revisit the growth of millionaires in Asia. Whilst we have tempered our optimism as to the rate of growth, there is still much reason to look to Asia as the greatest garden to grow millionaires. These findings also support our belief that wealth management is clearly a growth industry, with wealth set to continue its upward trajectory in Asia.”

Thomas R Meier, Region Head Asia Pacific of Julius Baer, adds: “Notwithstanding slowing global conditions, we remain positive on the trajectory of Asian HNWI wealth led by China where we estimate a tripling of HNWI wealth this decade to more than USD 8trillion. Our forecasts reflect the belief and confidence that China has ample room to ease monetary and fiscal policy to both stabilise and boost the economy. We also see great catch-up potential in India where we expect economic expansion to strengthen from next year. India has the potential to narrow the wealth and economic gap with China over the next decade.”

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