Asia Pacific's HNWIs jumped by 8.5% to 4.69m

Their wealth rocketed to a whopping US$15.8tr.

Asia-Pacific recorded robust HNWI population and wealth growth rates (8.5% and 11.4%, respectively), highest across the globe, and edged past North America to become the region with the most HNWIs at 4.69 million.

According to a release from Capgemini, on the wealth front, Asia-Pacific is still second to North America but registered the greatest gain to reach US$15.8 trillion. Asia-Pacific is expected to surpass North America on wealth terms in 2015.

Further, Asia-Pacific (excl. Japan) GDP expanded by 5.8%, which was consistent with 2013 (5.7%).

In 2014, Asia-Pacific accounted for 34,000 Ultra-HNWIs, representing a growth of 14.3% over 2013 and comprising 0.7% of the Asia-Pacific HNWI total.

Here's more from Capgemini:

The 2015 Global HNW Insights Survey, which is in its third year, revealed a number of perspectives and asset allocation preferences of HNWIs in Asia Pacific (n=1,642):

HNWIs in Asia Pacific (excl. Japan) and Japan demonstrated an increased interest in equities though they still have cash as the dominant asset class. Japanese HNWIs allocated the highest percentage into cash compared to global peers.

HNWIs in Asia Pacific (excl. Japan) favoured cash (23.1%) but increased their equity investments to 22.8% from 21.7% previous year.

Despite a drop in cash holdings from 43.8% in 2014, Japanese HNWIs held 37.1% of their financial assets as cash and cash equivalents as compared to a global average of 25.6% in 2015.

Asia Pacific (excl. Japan) HNWIs allocated the balance of their portfolios to cash and cash equivalents (23.1%), real estate (21.4%), fixed income (18.7%), and alternative investments (14.0%).

Within alternative investments, Asia-Pacific (excl. Japan) HNWIs hold the most in structured products (21.0%) while Japanese HNWIs invested the most in foreign exchange (27.8%).

HNWIs in Asia Pacific (excl. Japan) hold cash as part of their portfolio for a variety of reasons: Maintaining lifestyle (30.9%) is the top reason HNWIs hold cash, followed by security in case of market volatility (29.7%), for unique financial opportunities (18.7%), real estate investments (8.7%), and for use in own business (8.4%).

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