Wealth Management in Asia-Pacific 2004: Industry Report

Wealth Management in Asia-Pacific 2004

Product Type: Market Research Report
Published by: Datamonitor
Published: November 2004
Product Code: R313-7307

Description

Introduction
Datamonitor's Wealth Management in Asia-Pacific 2004 focuses on the onshore liquid wealth of high net worth customers (those with more than USD300,000 in investible assets) in Australia, China, Hong Kong, Japan, New Zealand, Singapore, South Korea and Taiwan. It offers access to key statistics from Datamonitor's proprietary Global Wealth Model.

Scope
Investigates the size of key savings and investment product sectors and the major economic trends shaping each market
Sizes and forecasts the high net worth market across the eight countries through to 2008, including data from Datamonitor's proprietary wealth model
Insight into the respective financial services markets, obtained through in-depth interviews with the main wealth managers and private bank
Highlights
The Japanese market is more than twice the size of the other seven savings and investments markets combined. The combined value of the other seven countries was USD3,736bn at the end of 2003.

Taiwan will overtake Hong Kong as the second strongest growth market over the 2003-2008 period, behind China.

China's high net worth population will grow from 810,900 to 1,401,100 between 2003 and 2008 making it the second largest market.

Reasons to Purchase
Allows strategy teams to determine the most attractive onshore markets in Asia-Pacific and to make informed, research-based decisions
This report forecasts the eight markets to 2008, allowing competitors to plan strategies on the basis of detailed market information
Allows wealth managers to monitor threats and opportunities posed by the main competition in each country

Table of Contents

TABLE OF CONTENTS

CHAPTER 1 EXECUTIVE SUMMARY 3

Introduction 3

What is this report about? 3

Regional overview 4

Introduction 4

General economic stability 4

GDP growth 5

Income distribution 5

Market size 5

Wealth market comparison 7

High net worth sector 7

Future decoded 8

Individuals 8

Attractiveness of the domestic markets going forward 9

CHAPTER 2 INTRODUCTION 19

What is this report about? 19

Who is the target reader? 19

How to use this report 20

CHAPTER 3 REGIONAL OVERVIEW 21

Introduction 21

Economic factors 22

General economic stability 22

GDP growth 22

GDP per capita 23

Stock market performance 24

Income distribution 26

Gini indices 26

Retail investment 27

Market size 27

Market growth 28

S&I per capita 29

Data 31

CHAPTER 4 WEALTH MARKET COMPARISON 35

High net worth sector 35

Individuals 37

Assets 38

Competitive dynamics 40

Australian overview 40

China overview 42

Hong Kong overview 42

Japan overview 43

New Zealand overview 43

Singapore overview 44

South Korea overview 44

Taiwan overview 45

Data 46

CHAPTER 5 FUTURE DECODED 49

Forecast factors 49

Market forecasts 51

Individuals 51

Assets 52

Attractiveness of the domestic markets going forward 53

North Asia and Greater China 53

South-East Asia and Pacific 57

Data 60

CHAPTER 6 APPENDIX 64

Definitions 64

AAGR 64

Advisory portfolio management 64

CAGR 64

Discretionary portfolio management 65

Gini index 65

High net worth (HNW) 65

Liquid assets 65

Liquid asset bands 66

Research methodology 66

The Global Wealth Model 67

The UK sub model 67

Asia-Pacific sub model 67

Forecasting methodology 67

Datamonitor’s wealth numbers compared with others’ numbers 68

Bespoke Wealth Market Sizing 69

Further reading 70

Datamonitor Asia-Pacific Wealth Reports 70

Datamonitor Asia-Pacific Insight Reports 70

Datamonitor Global Wealth Service: Competitor Tracking 70

Datamonitor Financial Services Consulting 71

Asia-Pacific contacts 71

LIST OF TABLES

Table 1: Historic GDP growth, 1998-2003 31

Table 2: Indexed historic GDP growth, 1998-2003 31

Table 3: Market capitalization of domestic equities, 1998-2003 32

Table 4: Indexed market capitalization of domestic equities, 1998-2003 32

Table 5: Relative income distribution 33

Table 6: Retail savings and investments market sizes, 1998-2003 33

Table 7: Indexed retail savings and investments market sizes, 1998-2003 34

Table 8: S&I per Capita, 2003 34

Table 9: Most of the regional or global private banks have a presence in Singapore and Hong Kong 41

Table 10: Proportion of high net worth individuals to adult population, 2003 46

Table 11: High net worth individuals, 1998-2003 46

Table 12: Indexed high net worth individuals, 1998-2003 47

Table 13: High net worth assets, 1998-2003 47

Table 14: Indexed high net worth assets, 1998-2003 48

Table 15: Forecasted GDP growth, 2003-2008 60

Table 16: Indexed forecasted GDP growth, 2003-2008 60

Table 17: Forecasted high net worth individuals, 2003-2008 61

Table 18: Indexed forecasted high net worth individuals, 2003-2008 61

Table 19: Forecasted high net worth assets 2003-2008 62

Table 20: Indexed forecasted high net worth assets 2003-2008 62

Table 21: High net worth market overview, 2003 63

Table 22: High net worth market overview, 2008 63

Table 23: Wealth markets that have been modeled using the Global Wealth Model 69

LIST OF FIGURES

Figure 1: The Japanese market is more than twice the size of the other seven markets combined 6

Figure 2: 60.0% of high net worth individuals from the eight countries are in Japan 7

Figure 3: Taiwan will overtake Hong Kong as the second fastest growing market over the 2003-2008 period 8

Figure 4: Methodology diagram and report structure 20

Figure 5: China and South Korea have experienced the most rapid GDP growth in recent years 23

Figure 6: China lags way behind the other countries in terms of GDP per capita 24

Figure 7: In general the major markets have seen torrid time in recent years, with the Australian market performing most consistently 25

Figure 8: Japan has the most evenly distributed income profile of the eight countries 26

Figure 9: The Japanese market is more than twice the size of the other seven markets together 28

Figure 10: Retail savings and investments have grown most rapidly in China over the 1998-2003 period 29

Figure 11: Hong Kong has the highest savings and investments per capita at USD112,520 30

Figure 12: 60.0% of high net worth individuals from the eight countries are in Japan 36

Figure 13: Hong Kong has the highest proportion of high net worth relative to adult population of any country in this study 37

Figure 14: The Chinese market has seen the fastest growth in number of high net worth individuals in recent years 38

Figure 15: The pattern of growth of liquid assets is very similar to that seen in number of individuals over the 1998-2003 period 39

Figure 16: Going forward, China and Hong Kong are expected to see the strongest GDP growth 50

Figure 17: Taiwan will overtake Hong Kong as the second fastest growing market over the 2003-2008 period 51

Figure 18: Japan will continue to see the slowest growth over the 2003-2008 period 52

Figure 19: North Asian high net worth wealth may not grow more strongly between 2003 and 2008 than it has over the last five years 55

Figure 20: South-East Asian high net worth wealth is set to grow strongly 57

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