CapGemini Tells You More About the Uber-Rich

CapGemini and Merrill Lynch recently released their 10th annual World Wealth report with some astounding numbers. In 2005, there were 8.7 million high net worth individuals (HNWIs: people with net financial assets of at least US$1 million, excluding primary residence and consumables), who had US$33 trillion of assets, averaging to $3.8 million per. 85,400 Ultra-HNWIs – those who have financial assets of more than US$30 million – had about $4.3 trillion at $50 million per. The number of HNWIs increased by 6.5% and the Ultra-HNWIs grew by 10.2%, mostly in Asia Pacific. In South Korea, the number grew by 21% and in India by 19%. It appears that the rich and the uber-rich comfortably increased their numbers and wealth, and are more aggressive with their investments in order to become even more financially secure. They are moving investments away from US and Europe into potentially higher yielding positions in Asia Pacific, which have seen dramatic gains in equity markets over the last few years. Real estate continues to be a strong holding, but individuals are moving to alternative investments as well. So far look like the rich have it pretty well worked out, with all their sophisticated financial planning to eke out marginal returns from overlooked niches and protecting it well with creative tax strategies. Now why would Merrill Lynch and CapGemini co-sponsor, push for and create this report? We can speculate that their Global Private Client Group and Global Financial Services are creating the kind of thought-leadership buzz that brings in some of the uber-rich to seek their expertise. Or just some findings for the rest of the 5 billion individuals in the world (except of course the 8.4 million) to file away as astounding fact. Article provide by www.big4.com