World's richest cut exposure to property and hedge funds
Chris Gant, Head of Wealth Management, Financial Services, Capgemini UK explains that growing emerging markets are helping the wealthy.
25 June 2008
Publication
Emerging markets are ensured the world’s richest people to expand their wealth by more than 9%, it was revealed by the publication of the 2008 World Wealth Report.
Chris said, “While there is still a lot of wealth tied up in the mature economies, the in-crease is more rapid in the new economies.”
The study, complied by Merill Lynch and Capgemini highlights that the world’s rich “have managed to avoid some of the heavy losses that have hit the banking business”.
The study also revealed that;
- There are more than 10m people on the planet with financial assets worth more than $1m, an increase of 6%.
- The ultra-rich, individuals with $30m or more to invest - grew at even faster rate of 8.8%.
To read the rest of the article at the FT.com, click here.
To download the 12th annual World Wealth Report, click here.
To read the press release on how the emerging markets are fueling growth, click here.
To read the press release on increase of individuals joining the millionaires’ club, click here.
To read the press release on the rise of investments in luxury items, click here.
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