India’s wealth mgmt biz to grow @ 15%'

New Delhi, April 21: India's wealth management industry seems to be
least affected by the global economic slowdown, with about two-third
wealth managers in Asia expecting over 15 per cent annual growth in
revenues from the country, says a survey.

Overall in Asia, the industry is also projected to witness a revenue
growth of more than 15 per cent per annum.

According to a survey conducted by Barclays Capital, wealth managers
expected China to have the highest revenue growth potential in Asia
over the next two years, with 80 per cent of respondents anticipating
more than 15 per cent per annum growth.

Barclays Capital is the investment banking division of Barclays Bank
Plc.

They were followed by 68 per cent of respondents for Southeast Asia,
where Singapore is the leading wealth management market, while about
60 per cent wealth managers expected more than 15 per cent per annum
revenue growth from India, Hong Kong and Taiwan.

These countries were closely followed by 55 per cent, who anticipate
the same level of revenue growth from Korea.

The three most important product features over the next two years are
considered to be growth, liquidity and diversification, in descending
order, followed by capital protection, the survey noted.

"These results reflect the influence of the recent market turmoil,
with clients placing greater importance on diversifying into liquid
assets and protecting their underlying capital rather than pursuing an
aggressive short-term investment strategy," Head of Non Japan Asia
Investor Solutions at Barclays Capital Peter Hu said in a statement.