The number of millionaires in mainland China grew by 35% in 2020, while the number of millionaires in Hong Kong fell by 7%, according to a new report from the private bank.
Michael Felman, an experienced family investor in New York, explains how Asian investors are keen on mega-trends and physical assets.
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.
The region's investors are eager to take on more risk, but they are too focused on cash to achieve their return targets, finds a new global survey by Legg Mason.
The attraction of the internet is luring high-net-worth Asians away from wealth managers as they look for investment opportunities in blogs and social media, raising questions over traditional sources of advice.
Growth in the number and wealth of high-net-worth individuals in Asia will outstrip North America within three years, although it will be a tight race, finds a benchmark survey.