Emerging Wealth Management Markets in Asia-Pacific
Datamonitor
January 22, 2007 87 Pages - SKU: DFMN1445643
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Countries covered: Asia
Introduction
Emerging Wealth Markets in Asia-Pacific is Datamonitor’s guide to the affluent wealth landscapes in Malaysia, South Korea and Taiwan. Following the popularity of Datamonitor’s recent research in the Indian and Chinese markets, the report explores some of the less high-profile emerging wealth markets in the Asia-Pacific region.
Scope-
Based on data collected directly from governmental sources such as central banks, mutual fund associations and stock exchanges.
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Insight into the respective financial services market was obtained through in-depth interviews with the main wealth managers and private bankers
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Sizing and forecasting of high net worth individuals were generated by Datamonitor's proprietary Global Wealth Model
Report Highlights
There is some consensus that it is not the high net worth individuals that are the key to the Malaysian market. Rather, it is those individuals with more than EUR100,000 (USD130,000) that are the most attractive market segment.
Citigroup Private Bank is seen as a big threat in the Korean market. The bank has a team of local Korean private bankers, which is important in the market. However, Citibank’s strength lies in combining this local team with its international network and subsequent access to a wide range of diverse products and services.
It has been widely acknowledged that the region is facing a talent shortage in the wealth management space, with competitors at once trying to retain relationship managers and poach others from their competitors.
Reasons to Purchase
- Find out why these markets are attractive and their advantages over other emerging economies.
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Find out how large the markets are now and how large they will be in 2010
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Find out how big the opportunities for growth will be going forward
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- CHAPTER 1 INTRODUCTION
- What is this report about?
- Who is the target reader?
- How to use this report
- CHAPTER 2 MACROECONOMIC OVERVIEW
- Market comparisons
- The four economies
- Sectoral breakdown
- Size and growth
- GDP per capita
- Inflation and consumer prices
- Population and unemployment
- CHAPTER 3 THE MALAYSIAN WEALTH MARKET
- Market background
- Savings and investments
- Islamic deposits and finance
- Size of the affluent market
- Financial services and the regulatory environment
- Financial services
- The Financial Sector Master Plan
- Capital markets
- Competitive dynamics
- The local players
- The foreign players
- Developments in 2006
- November 2005 - Citibank offers additional overseas investments
- March 2006 - Standard Chartered optimistic on growth
- April 2006 - Alliance forms joint venture to boost its wealth management offering in Malaysia
- August 2006 - Citigroup launches European fund in Malaysia
- November 2006 - CIMB launches Malaysian fund-of-funds
- December 2006 - Hong Leong revinvents Priority Banking
- Future focus
- The affluent outlook
- Mass affluent segment
- High net worth segment
- CHAPTER 4 THE SOUTH KOREAN WEALTH MARKET
- Market background
- Savings and investments
- Size of the affluent market
- Financial services and the regulatory environment
- Financial sector restructure
- Competitive dynamics
- Commercial banks
- Private/ premier banking and wealth management
- Developments in 2006
- April 2006 - Credit Suisse create Korean JV
- July 2006 - UBS acquires a stake in Korean asset manager
- August 2006 - Standard Chartered bullish on market share
- Future focus
- The affluent outlook
- Mass affluent segment
- High net worth segment
- CHAPTER 5 THE TAIWANESE WEALTH MARKET
- Market background
- Savings and investments
- Size of the affluent market
- Financial services and the regulatory environment
- June 2005 - Taiwan limits wealth management fees to 'wealthy'
- February 2006 - The resource drain
- May 2006 - Taiwanese regulator amends wealth management regulations
- Competitive dynamics
- Competitive developments in 2006
- October 2005 - BNP Paribas expands into Taiwan
- October 2005 - ABN AMRO opens in Taiwan
- December 2005 - Citigroup launches private banking in Taiwan
- October 2006 - First Sino Bank applying for renminbi license
- The affluent outlook
- Mass affluent segment
- High net worth segment
- CHAPTER 6 APPENDIX
- Data
- Definitions
- AAGR
- Affluent
- CAGR
- Gini index
- Liquid assets
- Liquid asset bands
- Research methodology
- The Global Wealth Model
- The UK sub model
- Asia-Pacific sub model
- Forecasting methodology
- Datamonitor's wealth numbers compared with others' numbers
- Bespoke Wealth Market Sizing
- Further reading
- Datamonitor Asia-Pacific Wealth Reports
- Datamonitor Asia-Pacific Insight Reports
- Datamonitor Global Wealth Service: Competitor Tracking
- Asia-Pacific contacts
- List of Tables
- Table 1: The local players have a much larger share of the Malaysian banking market than the foreign players
- Table 2: Sectoral breakdown of GDP in Malaysia, Thailand, South Korea and Taiwan, 2005
- Table 3: Indexed GDP growth, 1999=100
- Table 4: GDP per capita, GDP in USDbn and average GDP growth
- Table 5: Consumer Price Indices of Malaysia, Thailand, South Korea and Taiwan, 2000-2005
- Table 6: Rate of unemployment in Malaysia, Thailand, South Korea and Taiwan, 2000-2005
- Table 7: Population breakdown by age in Malaysia, Thailand, South Korea and Taiwan, 2005
- Table 8: Malaysian retail savings and investments, 2000-2005
- Table 9: South Korean retail savings and investments, 2000-2005
- Table 10: Taiwanese retail savings and investments, 2000-2005
- Table 11: Onshore liquid wealth owned by individuals in Malaysia, 2001-2005
- Table 12: Number of affluent individuals in Malaysia, 2001-2005
- Table 13: Onshore liquid wealth owned by individuals in Malaysia, 2006-2010
- Table 14: Number of affluent individuals in Malaysia, 2001-2005
- Table 15: Onshore liquid wealth owned by individuals in South Korea, 2001-2005
- Table 16: Number of affluent individuals in South Korea, 2001-2005
- Table 17: Onshore liquid wealth owned by individuals in South Korea, 2006-2010
- Table 18: Number of affluent individuals in South Korea, 2006-2010
- Table 19: Onshore liquid assets owned by affluent individuals in Taiwan, 2005-2010
- Table 20: Number of affluent individuals in Taiwan, 2001-2005
- Table 21: Onshore liquid wealth owned by individuals in Taiwan, 2006-2010
- Table 22: Number of affluent individuals in Taiwan, 2006-2010
- Table 23: Wealth markets that have been modelled using the Global Wealth Model
- List of Figures
- Figure 1: Report structure and research model
- Figure 2: A sectoral breakdown of the four economies reveals varying reliance on the services sector, with Taiwan's economy being the most reliant
- Figure 3: Taiwan's economy grew at the slowest overall rate between 2001 and 2005
- Figure 4: South Korea's economy is by far the largest of the four and saw good average annual growth over the 2001-2005 period
- Figure 5: All four economies have seen low inflation of consumer prices over the 2000-2005 period
- Figure 6: Of the four countries Malaysia has the youngest population profile
- Figure 7: All four countries have low unemployment on a global scale, with Thailand's rate the lowest in 2005
- Figure 8: Retail savings and investments outgrew GDP growth over the 2000-2005 period
- Figure 9: The investible assets of affluent individuals in Malaysia amounted to more than USD112bn at the end of 2005
- Figure 10: The number of those with between USD60,000 and USD500,000 grew at an average annual rate of 9.4% between 2000 and 2005
- Figure 11: The number of individuals with more than USD500,000 in investible assets grew by 8,600 between 2000 and 2005
- Figure 12: Mass affluent individuals with between USD60,000 and USD500,000 will own almost half of all retail liquid assets in 2010
- Figure 13: The number of individuals with between USD60,000 and USD500,000 in investible assets will grow by almost 40% between 2005 and 2010
- Figure 14: The overall liquid wealth of affluent individuals will grow at a rate of 8.1% compounded annually over the 2005-2010 period, primarily benefiting the most affluent individuals
- Figure 15: The fastest growing high net worth sub-segment over the 2005-2010 period will be that composed of individuals with USD3m-4m in onshore liquid assets
- Figure 16: Retail savings and investments growth flattened out in 2003, but the market did not see a major dip as other countries did
- Figure 17: Individuals with between USD60,000 and USD500,000 in investible assets grew to more than 1.6 million in 2005
- Figure 18: The number of high net worth individuals in South Korea dipped in 2003 before growing in 2004 and 2005
- Figure 19: Typical diversified investment portfolio of a Korean individual with more than USD10m, as provided by Korean wealth managers, 2006
- Figure 20: Commercial banks in South Korea fall into three categories, Nationwide Banks, Local Banks and Foreign Bank Branches
- Figure 21: Mass affluent individuals with between USD60,000 and USD500,000 will own 50% of all retail liquid assets in 2010
- Figure 22: The number of individuals with between USD60,000 and USD500,000 in investible assets will grow by more than 30% between 2005 and 2010
- Figure 23: The overall liquid wealth of mass affluent individuals will grow at a rate of 6.4% compounded annually over the 2005-2010 period, not a great deal fasted than overall retail liquid wealth
- Figure 24: Growth in retail savings and investments has outpaced GDP growth by a considerable margin in Taiwan over the 2000-2005 period
- Figure 25: The liquid wealth of Taiwanese affluent individuals grew by more than 60% over the 2000-2005 period
- Figure 26: Those with more than USD10m in liquid assets have grown rapidly in number over the 2000-2005
- Figure 27: High net worth individuals with more than USD500,000 in liquid assets will own 32% of all retail liquid assets in 2010
- Figure 28: The number of individuals with between USD60,000 and USD500,000 in investible assets will grow by more than 39% between 2005 and 2010
- Figure 29: The overall liquid wealth of affluent individuals in Taiwan will grow at a rate of 8.1% compounded annually over the 2005-2010 period, not a great deal fasted than overall retail liquid wealth
- Figure 30: High net worth individuals in Taiwan will own USD222bn in liquid assets at the end of 2010
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