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HNWI Asset Allocation in India 2014

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Published Date : May 2014

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No. of Pages : 67 Pages


  • This report is the result of WealthInsight\'s extensive research covering the high net worth individual (HNWI) population and wealth management market in India.
  • The report focuses on HNWI performance between the end of 2008 (the peak before the global financial crisis) and the end of 2013. This enables us to determine how well the country\'s HNWIs have performed through the crisis.


This report provides the latest asset allocations of India HNWIs across 13 asset classes. The report also includes projections of the volume, wealth and asset allocations of India HNWIs to 2018 and a comprehensive and robust background of the local economy.


  • Independent market sizing of India HNWIs across five wealth bands
  • HNWI volume and wealth trends from 2009 to 2013
  • HNWI volume and wealth forecasts to 2018
  • HNWI and UHNWI asset allocations across 13 asset classes
  • Insights into the drivers of HNWI wealth

Reasons To Buy

  • The WealthInsight Intelligence Center Database is an unparalleled resource and the leading resource of its kind. Compiled and curated by a team of expert research specialists, the database comprises dossiers on over 60,000 HNWIs from around the world.
  • The Intelligence Center also includes tracking of wealth and liquidity events as they happen and detailed profiles of major private banks, wealth managers and family offices in each market.
  • With the Database as the foundation for our research and analysis, we are able obtain an unsurpassed level of granularity, insight and authority on the HNWI and wealth management universe in each of the countries and regions we cover.
  • Report includes comprehensive forecasts to 2018.

Key Highlights

  • In 2013, real estate was the largest asset class for Indian HNWIs, with 30.0% of total HNWI assets, followed by business interests with 23.6%, equities with 23.1%, alternatives with 8.5%, fixed-income with 7.9%, and cash and deposits with 6.9%.
  • Alternatives, business interests and real estate recorded growth at respective review-period rates of 69%, 57% and 48%.
  • Alternative assets held by Indian HNWIs increased during the review period, from 7.3% of total HNWI assets in 2009 to 8.5% in 2013. HNWI allocations to commodities increased from 3.8% of total assets in 2009 to 4.9% in 2013.
  • Over the forecast period, allocations in commodities are expected to decline to 3.6% of total HNWI assets by 2018, as global liquidity tightens due to a forecast near-term drop in demand from China for raw materials that will cause global commodity prices to flatten out.
  • In 2013, Indian HNWI liquid assets amounted to US$476.8 billion, representing 37.8% of wealth holdings.
Table of Contents

1 Introduction
1.1 Details of this Report
1.2 Definitions

2 Executive Summary

3 Wealth Sector Fundamentals
3.1 Political Background
3.2 Economic Background
3.3 Social Background
3.4 Benchmarking Indian Wealth in Context
3.4.1 Distribution of wealth in India
3.5 HNWI Volume and Wealth Trends

4 Analysis of Indian HNWI Investments
4.1 Analysis by Asset Class
4.1.1 Trends in alternative assets
4.1.2 Trends in ‘art, wine and wheels\'
4.1.3 Trends of investments in real estate
4.1.4 Trends of investments in cash and deposits
4.1.5 Trends of investments in fixed income
4.1.6 Investment trends in equity
4.1.7 Investments trends in business interests
4.2 Analysis of Foreign Investments
4.2.1 Investments in Europe
4.2.2 Investments in North America (including the US, Mexico and the Caribbean)
4.2.3 Investments in Asia-Pacific
4.2.4 Investments in Central and South America
4.2.5 Investments in the Middle East
4.2.6 Investments in Africa
4.3 Alternative Breakdown: Liquid vs Investable Assets
4.4 Analysis of Indian UHNWI Investments

5 Appendix
5.1 Additional Components of the Wealth Sector in India
5.1.1 Philanthropy
5.1.2 Demand for intergenerational wealth transfer
5.1.3 Human resource availability for the wealth management industry
5.2 Tax Regulations
5.3 Regulations Related to Immigration, Investment and Employment
5.4 Key Drivers
5.4.1 INR to US$ exchange rate
5.4.2 Real GDP growth
5.4.3 Per capita GDP
5.4.4 Domestic market capitalization
5.4.5 Commodity index
5.4.6 Foreign direct investments - inflow and outflow
5.4.7 Inflation rate
5.4.8 Interest rate
5.4.9 Balance of payments
5.4.10 Government debt
5.4.11 Stock market performance
5.5 Wealth Breakdowns

6 About WealthInsight

List of Table

Table 1: HNWI Wealth Band and Group Definitions
Table 2: Cities in India by Population (Volume), 2013
Table 3: Indian Allocations of HNWI Assets (%), 2009-2018
Table 4: Indian HNWI Holdings Growth (%), 2009-2018
Table 5: Indian HNWI Alternative Asset Composition (%), 2009-2018
Table 6: Indian HNWI Trends of Investments in Alternative Assets (%), 2009-2018
Table 7: Indian Trends in ‘Art, Wine and Wheels\', 2009-2013
Table 8: Global Prime Real Estate Prices per m2 (US$), 2012
Table 9: Indian HNWI Foreign Investment Allocations (%), 2009-2018
Table 10: Indian HNWI Liquidity Breakdown (US$ Billion), 2009-2018
Table 11: Indian HNWI Liquidity Breakdown (%), 2009-2018
Table 12: Indian UHNWI Allocations and Share of HNWI Assets (%), 2013
Table 13: Indian Income Tax Bands (INR), 2013-2014
Table 14: INR per US$ Exchange Rate, 2009-2018
Table 15: Indian Real GDP Growth (%), 2009-2018
Table 16: Indian GDP per Capita (US$), 2009-2018
Table 17: Indian Domestic Market Capitalization (US$ Billion), 2009-2013
Table 18: Indian Commodity Indices, 2009-2018
Table 19: Indian Foreign Direct Investment (US$ Billion), 2009-2018
Table 20: Indian Inflation Rate (%), 2009-2018
Table 21: Indian Money Market Rate (%), 2009-2018
Table 22: Indian Balance of Payments (US$ Billion), 2009-2013
Table 23: Indian Government Debt as a Percentage of GDP, 2009-2018
Table 24: Indian Stock Market Performance, 2009-2013
Table 25: Indian HNWI Wealth vs GDP Ratio, 2009-2018
Table 26: India - Appendix One
Table 27: India - Appendix Two

List of Chart

Figure 1: HNWI Wealth Band Definitions
Figure 2: Map of India
Figure 3: Indian Asset Price Performance (%), 2009-2013
Figure 4: Indian HNWI Performance (US$ Billion and HNWI Volume), 2009-2018
Figure 5: Indian vs Global HNWIs (%), 2009-2018
Figure 6: Indian HNWI Asset Class Composition (%), 2009-2018
Figure 7: Indian HNWI Trends in Alternative Assets (US$ Billion), 2009-2018
Figure 8: Indian Trends in ‘Art, Wine and Wheels\', 2009-2013
Figure 9: Indian HNWI Foreign Investment Allocations and Growth (%), 2013
Figure 10: Indian HNWI Global Distribution of Foreign Investments (%), 2009-2018
Figure 11: Indian HNWI Liquidity Breakdown (%), 2009-2018
Figure 12: Indian UHNWI Asset Class Composition (%), 2009-2018
Figure 13: INR to US$ Exchange Rate, 2009-2018
Figure 14: Indian Real GDP Growth (%), 2009-2018
Figure 15: Indian GDP per Capita (US$), 2009-2018
Figure 16: Indian Domestic Market Capitalization (US$ Billion), 2009-2013
Figure 17: Indian Commodity Indices, 2009-2018
Figure 18: Indian Foreign Direct Investment (US$ Billion), 2009-2018
Figure 19: Indian Inflation Rate (%), 2009-2018
Figure 20: Indian Money Market Rate (%), 2009-2018
Figure 21: Indian Balance of Payments (US$ Billion), 2009-2013
Figure 22: Indian Government Debt as a Percentage of GDP, 2009-2018
Figure 23: Indian Stock Market Performance, 2009-2013
Figure 24: Indian HNWI Wealth vs GDP Ratio, 2009-2018
Figure 25: Indian HNWIs - Volume by Wealth Band, 2009-2018
Figure 26: Indian HNWIs - Wealth by Wealth Band (US$ Billion), 2009-2018
Figure 27: Indian HNWIs - Wealth per Capita (US$ Million), 2009-2018

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