Survey shows Singapore HNWs preference for wealth creation

currency banknotesA survey has highlighted the different attitudes to wealth among high net worth investors (HNWs) in Hong Kong and Singapore. Research from Quilter International showed that while the majority (55%) of HNWs in Singapore favour wealth creation, the majority (69%) of HNWs in Hong Kong are more concerned with wealth creation. The survey also showed differences in the choice of asset classes. While the use of traditional asset classes is broadly the same, Singapore investors are more likely to invest in private equity and twice as likely to invest in commodities such as gold and precious metals. Ian Kloss, Singapore chief executive for Quilter International, said that one of the reasons for the difference in investment strategies is that Singapore has “more policies and infrastructures to encourage entrepreneurship”. Furthermore, the research shows that almost three times as many Singapore HNWs run their own business compared to their counterparts in Hong Kong – 29% compared to 10%.   Kloss also cites the younger average age of HNWs in Singapore as a reason for favouring more aggressive investment strategies as well as an environment which “supports wealth creation strategies”. © 2020 funds global Asia

Sponsored Profiles

Sponsored feature: Asset allocators – How do you track your decisions?

Apr 06, 2020

Mark Barry, Head of Asset Allocation at Milestone Group, explores how a simple question can highlight opportunities to automate and streamline your asset allocation investment process.

Sponsored feature: How is DLT changing the global securities services landscape?

Oct 17, 2019

By Jeslyn Tan, global head of product management, securities services, at Deutsche Bank

Sponsored feature: A new base for fund distribution

Oct 16, 2019

To get the most value out of the digitisation of investment fund distribution, a blockchain-based infrastructure is fundamental. By Olivier Portenseigne, Managing Director and Chief Commercial Officer, Fundsquare.

Sponsored profile: Bridging the gap

Mar 11, 2019

Private equity is a core part of the business for Caceis’ Hong Kong office, which looks after clients in China and Europe. David Li, chief executive officer, explains why private equity enjoys strong client demand and how it is being used to fund China’s international infrastructure ambitions.

Executive Interviews

Executive interview: ‘China is the 800-pound gorilla’

Aug 04, 2020

Just over a year into his new role, Wai-Kwong Seck, chief executive officer at Eastspring Investments, discusses his business goals, the Covid-19 pandemic and China.

Executive interview: Understanding geographies

Apr 06, 2020

Margaret Harwood-Jones, co-head financing and securities services at Standard Chartered, shares her insights on platform standardisation, opportunities in Asia and regulatory change to encourage...


Hong Kong roundtable: A ‘fragile Goldilocks situation’

Apr 06, 2020

With the global economy at a crossroads, our panel of experts share their thoughts on the market conditions, geopolitical volatility and growth opportunities. Chaired by Romil Patel in Hong Kong.

Singapore roundtable: A horizon to hold long-term assets

Dec 12, 2019

Panellists discuss the geopolitical fractures concerning asset owners, Singapore as a hub for fintech start-ups and why it makes sense to raise capital from a Variable Capital Company (VCC). Chaired by Romil Patel in Singapore.