Indian population of HNI will increase by 21 per cent by 2011, says a Merrill Lynch Capgemini report
India ranks twelfth among nations with the highest number of HNIs, according to a study by Merrill Lynch Wealth Management in association with Capgemini, say media reports. India's population of HNIs stood at 1, 53,000 in 2010 - the highest figure for India ever. The number of HNIs, defined as those with an investible surplus of US $ 1 million, has grown by 21 per cent last year.
The rise in Indian wealth is on the back of a GDP growth rate of 9.1 per cent in 2010 and an increase in market capitalisation by 24.9 per cent. Domestic demand in India as well as in other nations such as China and Singapore helped boost the economic output of the Asia Pacific region, with GDP rising to 8.3 per cent for the region.
Giving his views, Atul Singh, Managing Director and Head, Merrill Lynch Global Wealth Management, India reportedly said, “In India investors are interested in investing in sports and leagues such as the Indian Premier League (IPL), sailing and race horses.”
According to the report, HNIs held 33 per cent of all their investments in equities, 29 per cent in fixed income investments, 19 per cent in real estate and 14 per cent in cash and deposits.
