Indians are one of the youngest among Asia’s wealthy
Indians are one of the youngest among Asia’s wealthy, with an average age of just 39, after China at 36 and Indonesia at 38 years. One-fifth of the affluent Indian investors surveyed also are looking at taking a higher risk in the next six months, with 66 per cent planning to make new investments.
Gannesh Bharadhwaj, head-retail banking and wealth management, HSBC India, said in a press release, “Our survey shows that young, cash-rich Indians are willing to take a higher level of investment risk as they increase and diversify investments in the second half of 2011.
However, affluent Indian hold an average of $87,910 in liquid assets, the lowest in the region, of which 52 per cent are held in local currency deposits, and 47 per cent in stocks, unit trusts and other investments, according to the latest HSBC Affluent Asian Tracker. A quarter of Indian affluent also favour emerging markets funds and equities.
HSBC’s survey shows that affluent Asians have the liquidity, appetite for diversification and a tendency towards a balanced risk mentality to help maintain and grow wealth in both in good and difficult times. Affluent Asians have the liquidity, appetite for diversification and a tendency towards a balanced risk mentality.
Of the wealthy in Asia, 75 per cent are married with kids, 13 per cent are DINKs (double income with no kids) and 12 per cent are still single. The HSBC Affluent Asian Tracker was conducted by Nielsen across over 4,400 individuals in the top 10 percentile of the population by average liquid assets and mortgage value across eight markets in Asia.
Affluent Asians hold average liquid assets of over $190,000 led by Hong Kong with $315,116, followed Australia $296,297, Singapore $293,774, China $159,253, Taiwan $156,936, Malaysia $118,750, Indonesia $92,835 and India $87,910.
Sixty-one per cent of affluent in Asia reported a rise in net worth in the last 12 months led by India 81 per cent, Malaysia 66 per cent, Indonesia 63 per cent, Hong Kong 63 per cent and followed by China 59 per cent, Australia 56 per cent, Taiwan 54 per cent and Singapore 48 per cent.
“Last year, despite market disruptions caused by events in Japan and the West Asia, inflationary pressures and continued uncertainty in the west, the majority of affluent Indians said they increased their wealth,” Bhardwaj said.