Chinese HNW and insurance investors are temporarily holding back on offshore investments, but will likely ratchet up again in the future. This poses challenges for wealth and asset managers.
Chinese HNWIs are increasingly seeking diversification benefits through asset allocation but it it's early days yet and the country's wealth managers are still playing catchup.
The firm will add around 20 staff for its new 'smart' wealth management offering as it builds out its digital platform, says Chang Linyun, deputy head of WM at UBS in Taiwan.
The ranks of the truly wealthy have swelled, with Asia leading the recovery, according to the Merrill Lynch Global Wealth Management/Capgemini World Wealth Report.
And appetite for risk among wealthy Asians is set to rise in the next two years, with many likely to seek financial planning and advisory asset-management services, according to a Datamonitor survey.
Perhaps understandably, Asian high-net-worth individuals are more bullish about their prospects than their Western counterparts, according to a Barclays Wealth survey.
Agricultural commodities, emerging markets, infrastructure and energy, and distressed assets will be beneficial to portfolios of high-net-worth individuals, says Citi Private Bank.