South-East Asia's wealth management sector booming, India included

SINGAPORE: South-East Asia is seen as second only to China in growth potential for the wealth management field, a published survey said Tuesday. Some 60 percent of the wealth managers from India, Taiwan and Hong Kong expected annual revenue growth of more than 15 percent.

Market volatility in the United States and Europe has made little dent in the industry's confidence, said the survey of wealth managers by Barclays Capital. Asia's wealth management growth is not expected to slow over the next two years, according to the findings in The Straits Times.

South-East Asia is expected to see wealth management revenue growth of more than 15 percent in the next two years, said 68 percent of the respondents. China was selected as the market with the highest revenue growth potential by 80 percent of the 91 respondents from 57 wealth management organizations across Asia, excluding Japan.