Gurgaon, India, May of 2016 The number of ultra-high net worth people in Singapore decreased in 2015, but the amount of assets under control saw significant rise. year-on-year ken research has released its most recent publication, which is titled “wealth in singapore: sizing the market potential.” This report offers a comprehensive examination of the wealth management and distribution business in Singapore. The research also includes coverage, on a category-by-category basis, of the many market subsets that make up the industry. The reader is provided with the ability to comprehend future outlooks on the form that the market will take by the end of this decade thanks to the research. Singapore has surpassed Switzerland as the world’s biggest offshore wealth center and is now the wealth hub with the greatest growth rate in the world. The path to become a multimillionaire in Singapore often involves working as the chief executive officer of a bank, hedge fund, private investment, or wealth advice firm. It is generally agreed that Singapore is the epicenter of private banking in the Asia Pacific region. The mass affluent in Singapore are the clients that wealth managers in the country focus on serving. This demographic comprises young, upwardly mobile professionals who make more than US$6,000 per month. Bonds will be the fastest expanding asset class because there is a larger supply of them, not because of increased customer demand. Singapore has established itself as one of the most important offshore investment centers in the world because to the fact that 81 percent of the country’s wealth is held in funds originating from non-residents. In 2017, Singapore will join the Free Trade Area of the Americas (FTAA), which will result in modifications to the country’s tax system. Despite the city state’s relatively low population, there are one million wealthy people, which helps to make the onshore market a significant source of assets under management (aum). There is evidence that residents are interested in investing overseas since 34% of AUM is held in offshore accounts. As a regional commercial center, China, India, and Indonesia have a significant impact on the growth rates of Singapore. Despite the fact that development in some of these nations is slowing, Singapore’s wealth market is expected to continue to record strong growth rates. In 2015, it was discovered that there was a decline in the number of persons in Singapore who had a very high net worth. The reason for this is the three percent decrease in the overall number of uhnwis around the globe. Nevertheless, the projections indicate that the population of Uhnwi will expand by a factor of 0.48 during the course of the next ten years. In 2016, Singapore maintained its status as the third most important country in the world according to uhnwis. Between the years 2015 and 2019, it is anticipated that the value of high-net-worth individuals’ liquid assets would increase by around 7.5% annually. The value of assets under managed in Singapore has increased at a rate of thirty percent year over year. Positive asset inflows from Asia and Singapore’s status as an asset management center are cited as the causes for this rise. market for wealth on a global scale The market for wealth throughout the world is seeing consistent expansion. As a result of the expansion of the wealthy population, it is anticipated that by the end of this year there will be more than 10 million high-net-worth investors. The United States will continue to be the world’s biggest wealth market. The following are some of the key topics that are covered in the report: a detailed analysis of Singapore’s wealth market; an analysis of value and volume for Singapore’s investors; a historic and forecast value analysis by category; key issues in the market; an investor trend framework; and an analysis of mega-trends. Please visit the following website if you are interested in learning more about coverage: https://www.kenresearch.com/banking-financial-services-and-insurance/financial-services/wealth-singapore-sizing-market/21661-93.html related news accounts: A look forward to 2020: consequences for wealth managers brought forth by non-resident Indians’ advising responsibilities Ankur Gupta, Head of Marketing and Communications at Ken Research may be reached at query@kenresearch.com or by calling +91-124-4230204.
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