North America reclaimed the top spot with the most millionaires last year as the world?s ultra-rich led the way in raising global wealth to a record high, according to a report by Cap Gemini SA and Royal Bank of Canada.
People in North America with at least US$1-million in investable assets climbed 11.5% to 3.73 million in 2012, regaining the No. 1 ranking after being overtaken in 2011 by the Asia-Pacific region, according to Tuesday?s 17th annual World Wealth Report. High-net-worth individuals in Asia-Pacific increased 9.4% to 3.68 million.
The combined wealth of the world?s millionaires rose 10% to a record US$46.2-trillion last year, after declining 1.7% in 2011. North America remained the richest region with US$12.7-trillion of high-net-worth assets, compared with US$12-trillion in Asia-Pacific, according to the study.
?North America?s lead in both population and wealth is likely to be eclipsed again in future by Asia-Pacific,? Jean Lassignardie, chief sales and marketing officer for Paris-based Capgemini Global Financial Services, said in a statement. Asia-Pacific?s total wealth increased 12.2%, outpacing North America?s 11.7% growth, he said.
The increase in global wealth was led by the super-rich, those with at least US$30-million to invest, whose assets and numbers rose by about 11% following declines in 2011, according to the report. A global recovery in stock markets and real estate fuelled the increase, the study found.
Latin America
The MSCI AC World Index, which tracks global stocks in developed and emerging markets, climbed 13% in 2012 and the MSCI AC Asia Pacific Index jumped 14%.
All regions had strong gains in high-net-worth populations and wealth except Latin America, which faltered amid slow economic growth and ?challenged? equity markets, according to the report.
The population of millionaires worldwide rose 9.2% to 12 million, according to the report.
Global wealth will grow at 6.5% annually over the next three years, led by the 9.8% increase from the Asia- Pacific region, the report shows.
The dominant source of wealth for the world?s richest people is from entrepreneurship rather than inheritance, according to a separate report Monday by London-based Barclays Plc. Wealth is being created twice as quickly in developing regions such as Asia-Pacific and Africa, where it took rich people an average of 12 years and 16 years, respectively, to accumulate their assets, the Barclays study found.
Cautious Wealthy
A Pew Research Center study in April found that while the U.S. economy has recovered for households with net worth of US$500,000 or more, the recession continues for almost everyone else. Wealthy U.S. households boosted their net worth by about 21% between 2009 and 2011 as the rest of America lost 4.9% of household wealth during that period, the Pew study found.
The world?s affluent remained cautious in 2012, with a focus on preserving assets, according to the report from Capgemini and Royal Bank?s RBC Wealth Management unit, which surveyed more than 4,400 high-net-worth individuals. A third were primarily focused on preserving wealth, while 26% sought to increase assets. Almost 30% of high-net-worth wealth was held in cash and deposits, the report found.
?Despite a marked focus on capital preservation and high cash allocations, high-net-worth individuals achieved a record level of wealth in 2012, suggesting further growth lies ahead if trust and confidence in the markets increases further,? George Lewis, group head of RBC Wealth Management and RBC Insurance, said in the statement.
Asset Allocations
Millionaires in the Middle East and Africa were the most focused on wealth accumulation, with about 42% making asset growth a priority compared with 33 percent seeking preservation, the study found.
North America?s wealthy held most of their assets in equities, at 37%, while those in Latin America and Asia- Pacific, excluding Japan, preferred property. Latin America?s rich had 30% of their portfolios in real estate, compared with 25% for Asia-Pacific. Millionaires in Europe favoured cash and real estate, allocating 27% to each.
Capgemini and RBC Wealth Management compiled data from 71 countries accounting for 98 percent of global gross national income. Toronto-based RBC Wealth Management manages more than $369-billion for customers globally.
www.bloomberg.com
Shain Gandee mlb yankees Bb&t Maria Sibylla Merian cory monteith Holly Sonders
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.