Market Research Report
Wealth in Singapore: HNW Investors 2018
|Published by||GlobalData||Product code||364721|
|Published||Content info||58 Pages
|Wealth in Singapore: HNW Investors 2018|
|Published: May 3, 2018||Content info: 58 Pages||
Singapore's wealth market is highly competitive and established compared to the wider region, where the private banking concept is still relatively new - particularly when considering emerging markets such as the Philippines, Indonesia, and China. Singapore has emerged as a premium private banking hub that caters to the global HNW elite, covering both offshore investors (who figure prominently here), and a substantial resident population that includes a large numbers of expats. As Southeast Asia's premier financial market, almost all international private wealth managers have operations in the country, meaning it has an unparalleled product and service range within the region but is also the most hotly contested market.
Singaporean HNW individuals have made their fortunes predominantly through earned income, although business owners in one form or another are also significant. The most prominent industries from which HNW individuals have amassed their wealth are financial services and real estate.
At over 13%, the proportion of directors in Singapore who were women in 2017 was at roughly the same level as the proportion of HNW female investors, according to Diversity Action Committee Singapore. Offering dedicated services for female investors will become increasingly important, as efforts are underway to boost the number of high-earning female directors. Inheriting from spouses (typically from man to woman) along with the rise of more women working at the director level should result in tailored wealth services for women, (such as Miss Kaya) witnessing significantly more demand. All wealth managers need to ensure they are addressing this growing opportunity effectively and in a substantive manner, rather than simply offering pink credit cards.
The report "Wealth in Singapore: HNW Investors 2018", analyzes the investment preferences and portfolio allocation of Singaporean HNW investors. The report is based on our proprietary Global Wealth Managers Survey.
Specifically the report -
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Companies mentioned in this report: DBS, Bank of Singapore, UOB, Credit Suisse, UBS