India's super rich dump fixed income assets for stocks

By Arka Bhattacharya

India’s super rich increased their exposure to stocks and cut their fixed income and real estate holdings in the last couple of years. The shift to equity was prompted by the rally in the stock market from September 2013.

According to a report released by Kotak Wealth Management, the number of ultra high networth households (HNH) went up by 17.2% in 2014-15 to 1,37,100 from a year ago. Their net assets increased by almost 23% to Rs 1,28,00,000 crore (Rs 128 lakh crore). An ultra high networth household is defined as one with an average minimum net worth of at least Rs 25 crore over the last 10 years.