100,000 High Net Worth Individuals in India
November 12, 2007
According to the second Asia Pacific Wealth report published by Merrill Lynch and Cap Gemini, the number of High Net Worth Individuals (HNIs) in India increased by 20% in 2006 to touch 100,000. About 0.85% of them are Ultra HNIs (people with net worth in excess of US$30M). A majority of the HNIs are in the 41-55 year bracket.
So who is an HNI? The study defines an HNI as someone with net financial assets of at least US$1 Milion (excluding their primary residence).
To put things in context, Asia Pacific is home to just over 27% of the world’s HNI population and India is the second-fastest growing HNI population in Asia Pacific.
Another chak de moment for India….. is it not?
Entry Filed under: Business, Chak de India. Tags: Chak de India, High Net Worth Individuals, HNIs, India, Indian wealth.
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anandkrishna
1.
kiran | January 16, 2008 at 9:09 pm
Hey, could you tell me exactly what classifies an individual to be a High Networth Individual. I am talking from an Indian perspective not a global perspective. I came to this question after seeing the different categories of people who can apply for an IPO. retail investors hni QIB etc.
2.
anandkrishna | January 19, 2008 at 5:50 am
Hi Kiran- In the context of applying to IPOs in India, I think an HNI is someone who applies for shares worth more than Rs1 lakh. This segment has a separate % of the issue reserved and do not benefit from any discount to the issue price, which “Retail investors” get.
The Wealth Management industry has a different yardstick to define HNIs. For them, the criterion is the total “net worth” of the individual. This is typically used as a gating criterion to decide what level of client service is provided, and what additional services are offered.
Hope this helps.
Anand