Boston, MA -- (SBWIRE) -- 06/26/2012 -- India's GDP grew at an annual growth rate of 8% in 2011 and has a strong growth outlook. This makes the country an attractive investment location for wealth management firms. India has the main components that comprise a high-growth wealth management market, including: a very large and young affluent customer base, an improving wealth situation among global Indians, a goal to more tightly regulate financial services by the Indian government, and an increasing share of organized companies compared to the unorganized workforce. India currently has the fourth-largest number of high net worth individuals (HNWIs) in the Asia-Pacific region, after Japan, China and Australia. There were over 250,000 HNWIs in India, which cumulatively owned assets that valued over US$1 trillion in 2011. The volume of HNWIs in India increased at a compound annual growth rate (CAGR) of 7.20% during the review period (2007-2011), while the total HNWI wealth increased in value at a CAGR of 2.47%.

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Key Highlights

- HNWIs in India are expected to increase their number of equity asset allocations over the forecast period, while reducing their number of fixed-income and cash assets.
- As the wealth management market in India matures, Indian HNWIs are expected to significantly increase their investments in sophisticated wealth alternatives, such as hedge funds, private equity and venture capital.
- The regulatory environment in the Indian wealth management market is evolving, which presents opportunities for established wealth managers to expand their product and service offerings in the country. The government is planning to implement regulations covering fiduciary duties and investor protection.
- Commercial banks, private wealth management companies and asset management companies in India are adopting various marketing strategies to become successful in the Indian wealth management market.
- India's wealth management market is highly fragmented, which is not surprising as it is in an early stage of development. The organized service providers, such as commercial banks and wealth management companies, have so far focused mainly on the urban population, leaving an underexplored customer base of approximately one-fifth.

Scope

- This report provides an extensive analysis of the Indian wealth management industry, including market sizing by asset classification
- The report highlights various asset classes available for HNIs and also classifies the investment made by the HNIs in each of the mentioned asset classes
- It also provides an analysis of marketing strategies used by banking and financial services companies in India
- The report provides a detailed understanding of the product offerings of banking and asset management companies
- It also provides insights into the strategies that companies can adopt to succeed in the industry to strengthen market position

Companies Mentioned in this Report: Housing Development Finance Corporation Bank (HDFC), ICICI Bank Ltd, Kotak Mahindra Bank, AXIS Bank Limited, DBS Bank Ltd (India), Deutsche Bank (India), Standard Chartered Bank (India), HSBC (India), SG Private Banking (India), Edelweiss Financial Services Limited, Client Associates, Karvy Private Wealth

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