Singapore's domestic and overseas wealth pool has expanded steadily over the past year, with average assets among the country's high-net-worth clients rising 6 percent to US$1.5 million (HK$11.7 million), a white paper prepared by Citi Wealth and independent research firm RFI Global showed on Thursday.
Assets among Singapore's affluent clients increased 5 percent to more than US$565,000, according to the study, aimed at exploring how Singapore compares with other global wealth markets.
- The study found that mutual fund ownership among Singapore's high-net-worth investors has nearly tripled from 11 percent in 2022 to 31 percent in 2026, the highest adoption level in Asia, outpacing countries like India and South Korea.
- However, a large portion of portfolios remain held in cash, with 72 percent of onshore affluent assets and 74 percent of offshore booked assets concentrated in cash and liquid deposits.
- The findings were similar across other Asia hubs, reflecting investors' continued preference for liquidity.
- The study found Singapore leading in intergenerational wealth preparedness, with 76 percent of individuals aged 55 and above having established wills or wealth succession plans.
Reuters
