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Wealth Management in Asia's Offshore Centers
WealthInsight Ltd, Jan 2012, Pages: 42
Synopsis
This report is the result of WealthInsight’s extensive research covering the Wealth Management industry in Asia. It covers Asia's major offshore centre's namely: Hong Kong and Singapore.
Summary
Asia is the fastest growing region in the world in terms of wealth. Financial centres such as Singapore and Hong Kong are ideally located to benefit from this new wealth. The report analyses Hong Kong and Singapore’s Wealth Management and Private Banking sector, and the opportunities and challenges therein.
Scope
The report features:
- Political and Economic reviews
- Competitive Landscape of the Wealth Sector in Hong Kong and Singapore
- Challenges and Opportunities for the Wealth Sector in both countries
- Leading Companies in the Wealth Management and Private Banking Industry in Hong Kong and Singapore
- Family office information
Reasons To Buy
- The WealthInsight Intelligence Center Database is an unparalleled resource and the leading resource of its kind. Compiled and curated by a team of expert research specialists, the Database comprises up to one hundred data-points on over 100,000 HNWI, private banks, wealth managers and family offices around the world. With the Database as the foundation for our research and analysis, we are able obtain an unsurpassed level of granularity, insight and authority on the HNWI and wealth management universe in each of the countries and regions we cover.
- Comprehensive forecasts to 2015.
Key Highlights
- The Asia-Pacific wealth management sector (excluding Japan and Australia) grew from assets under management (AuM) of US$650 billion in 2007 to over US$1.3 trillion in 2011. Singapore on its own constitutes 30% of this figure with AuM of over US$550 billion. This is significantly larger than Hong Kong’s wealth management and private banking industry, which has US$250 billion in AuM .
- Singapore is the second-largest offshore private banking center in the world, after Switzerland.
- By 2015, Singapore is expected to gain significant ground on Switzerland. This will be fueled by Asia-Pacific HNWIs and by an increasing number of global clients moving their offshore funds from other jurisdictions to Singapore.
- Singapore has positioned itself as the region’s leading financial center and is the prime candidate to take advantage of the large capital flows that are expected to flow into China, India and Indonesia over the forecast period.
- Hong Kong’s overall prospects remain bright. The PRC’s Twelfth-Five-Year Plan, which intends on internationalizing the Chinese currency for the first time, gives support to the development of Hong Kong as a Chinese offshore and international asset management centre.
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