The global economy seems to be taking an optimistic outlook after treading cautiously for close to a decade. The total wealth of high net worth individuals (HNWIs) worldwide has crossed $70 trillion for the first, according to the World Wealth Report 2018 (WWR), released by Capegemini. (Image: Reuters)
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HNWI wealth grew by 10.6 percent in 2017, making it the sixth consecutive year that their wealth has grown. (Image: Shutterstock)
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According to the report, close to 1.6 million HNWIs were added to global economy. Close to 75 percent of these new HNWIs came from the Asia-Pacific and North America, with the US, Japan, Germany and China, representing 61.2 percent of the global HNWI population in 2017. They also added $4.6 trillion in new HNWI wealth. (Image: Reuters)
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HNWIs see equities as the largest asset class in investment portfolios, standing at 30.9 percent of their financial wealth in the first quarter of 2018, followed by cash and cash equivalents at 27.2 percent, and real estate at 16.8 percent. (Image: Reuters)
Cryptocurrencies are being closely tracked by HNIWs, as 71 percent aged 40 years and below gave priority to receiving information on cryptocurrencies from wealth management firms as compared to 13 percent aged 60 years and above. Wealth managers are comparatively more ambivalent to the volatile currency, as only 34.6 percent of HNWIs globally said they received cryptocurrency information from their wealth managers (Image: Reuters)
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HNWIs are aware of the role big techonology firms like Google, Mircrosoft and Apple have in creating future wealth, with 36.7 percent having an “extreme interest” in bringing Google on board their wealth management. (Image: Google)
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Where does India stand? Close to 263 HNWIs were present in the country in 2017, which increased from 213 in 2016. (Image: Reuters)
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The wealth of Indian HNWIs stood at $1.067 trillion. This was close to 1.5 percent of the overall accumulated wealth of HNWIs globally. (Image: Shutterstock)
