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Canadian HNWIs to Hold Marginally Less Wealth in Foreign Countries by 2020

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Published on : May 11, 2016

ALBANY, New York, May 11, 2016: The report, titled “Challenges and Opportunities for the Wealth Sector in Canada 2016,” also presents an overview of the independent market sizing of the high net worth individuals (HNWIs) in the country across five wealth bands.

The report focuses on the financial performance of HNWIs in Canada starting at the end of 2011 until the end of 2015. The report also presents wealth and volume forecasts until 2020.

The report gives data pertaining to the asset allocations of HNWIs and ultra-high net worth individuals (UHNWIs) across 13 asset classes, including real estate, art, cash and deposits, business interests, wine and wheels, fixed-income, alternative assets, and equity. The segment of alternative assets has been further examined for two categories: investable assets and liquid assets.

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The report states that HNWIs in Canada held nearly 27% (an estimated US$501 bn) of their wealth in foreign countries in 2015. However, the share of Canada’s HNWIs’ wealth in foreign holding is expected to decline a little by 2020, to 26.3%, and reach a valuation of US$598.9 bn.

A detailed assessment of foreign asset holdings for Canadian HNWIs has been examined for regions such as Africa, South America, Asia Pacific, the Middle East, Europe, and North America (including the U.S., Caribbean, and Mexico). Of these, North America topped, accounting for a share of 41.9% of the foreign assets of Canadian HNWIs in 2015. Asia Pacific accounted for 26.9%, Europe accounted for 15.9%, Latin America had an 11.5% share, Africa had 3.2%, and Middle East had 0.5% share of the overall foreign assets of Canadian HNWIs in 2015.

Canadian HNWI asset allocations in foreign countries more prominently saw an exponential rise in Asia Pacific over the period between 2011 and 2015, and increased from 14.8% in 2011 to a staggering 26.9% in 2015. The trend is expected to continue over the report’s forecast period as well and over 35.2% share in the Canadian HNWI foreign asset allocations is projected to be seen in Asia Pacific by 2020.

The report also presents a detailed overview of the competitive landscape of the wealth management market in Canada with the help of an overview of domestic private banks, foreign private banks, family offices, and wealth managers in the country.

A collective impact of factors such as Canadian dollar to U.S. dollar (CAD - US$) exchange rate, per capita GDP, real GDP, commodity index, domestic market capitalization, government debts, inflation rates, interest rates, and stock market performance on the wealth management market in the country has also been examined in the report.

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