India's wealth management industry to grow 15 pc annually: Survey
India's wealth management industry seems to be least affected by the global economic slowdown, with about two-third wealth managers in Asia expecting over 15 per cent annual growth in revenues from the country.
By PTI |
NEW DELHI: India's wealth management industry seems to be least affected by the global economic slowdown, with about two-third wealth managers in Asia expecting over 15 per cent annual growth in revenues from the country, says a survey.
Overall in Asia, the industry is also projected to witness a revenue growth of more than 15 per cent per annum.
According to a survey conducted by Barclays Capital, wealth managers expected China to have the highest revenue growth potential in Asia over the next two years, with 80 per cent of respondents anticipating more than 15 per cent per annum growth.
Barclays Capital is the investment banking division of Barclays Bank Plc.
They were followed by 68 per cent of respondents for Southeast Asia, where Singapore is the leading wealth management market, while about 60 per cent wealth managers expected more than 15 per cent per annum revenue growth from India, Hong Kong and Taiwan.
These countries were closely followed by 55 per cent, who anticipate the same level of revenue growth from Korea.
The three most important product features over the next two years are considered to be growth, liquidity and diversification, in descending order, followed by capital protection, the survey noted.
"These results reflect the influence of the recent market turmoil, with clients placing greater importance on diversifying into liquid assets and protecting their underlying capital rather than pursuing an aggressive short-term investment strategy," Head of Non Japan Asia Investor Solutions at Barclays Capital Peter Hu said in a statement.
Overall in Asia, the industry is also projected to witness a revenue growth of more than 15 per cent per annum.
According to a survey conducted by Barclays Capital, wealth managers expected China to have the highest revenue growth potential in Asia over the next two years, with 80 per cent of respondents anticipating more than 15 per cent per annum growth.
Barclays Capital is the investment banking division of Barclays Bank Plc.
They were followed by 68 per cent of respondents for Southeast Asia, where Singapore is the leading wealth management market, while about 60 per cent wealth managers expected more than 15 per cent per annum revenue growth from India, Hong Kong and Taiwan.
These countries were closely followed by 55 per cent, who anticipate the same level of revenue growth from Korea.
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The three most important product features over the next two years are considered to be growth, liquidity and diversification, in descending order, followed by capital protection, the survey noted.
"These results reflect the influence of the recent market turmoil, with clients placing greater importance on diversifying into liquid assets and protecting their underlying capital rather than pursuing an aggressive short-term investment strategy," Head of Non Japan Asia Investor Solutions at Barclays Capital Peter Hu said in a statement.
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