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Singapore Wealth Report 2014

Published: Jan-2015 | Format: PDF | WealthInsight | Number of pages: 105 | Code: MRS - 3183

Synopsis

This report is the result of WealthInsight’s extensive research covering the high net worth individual (HNWI) population and wealth management market in Singapore.

Summary

This report reviews the performance and asset allocations of HNWIs and ultra-HNWIs in Singapore. It also includes an evaluation of the local wealth management market.

Scope

  • Independent market sizing of Singapore's HNWIs across five wealth bands
  • HNWI volume, wealth and allocation trends from 2009 to 2013
  • HNWI volume, wealth and allocation forecasts to 2018
  • HNWI and UHNWI asset allocations across 13 asset classes
  • Geographical breakdown of all foreign assets
  • Alternative breakdown of liquid vs investable assets
  • Number of UHNWIs in major cities
  • Number of wealth managers in each city
  • City ratings of wealth management saturation and potential
  • Details of the development, challenges and opportunities in the wealth management and private banking sectors in Singapore
  • The size of Singapore's wealth management industry
  • The largest private banks by AuM
  • Detailed wealth management and family office information
  • Insights into the drivers of HNWI wealth

Reasons To Buy

  • The Singapore Wealth Report 2014 is an unparalleled resource and the leading resource of its kind. Compiled and curated by a team of expert research specialists, the report comprises a wide variety of data that is created based on over 125,000 HNWIs from around the world in our database.
  • With the wealth reports as the foundation for its research and analysis, WealthInsight is able obtain an unsurpassed level of granularity, insight and authority on the HNWI and wealth management universe in each of the countries and regions it covers.
  • The report reviews the performance and asset allocations of HNWIs and ultra-HNWIs. The report also includes projections of the volume, wealth and asset allocations f the HNWIs to 2018 and a comprehensive background of the local economy.
  • The report provides a thorough analysis of the private banking and wealth management sectors, the latest merger and acquisition activity, and the opportunities and challenges that it faces.
  • It also provides detailed information on HNWIs volumes in each major city.

Key Highlights

  • There were 151,025 HNWIs in Singapore in 2013. These HNWIs held US$7498.8billion in wealth, and wealth per capita was US$5.0 million.
  • Singaporean HNWI numbers rose by 2.3% in 2013, following an increase of 1.9% in 2012.
  • Growth in HNWI volumes and wealth is expected to improve over the forecast period. The total number of Singaporean HNWIs is forecast to grow by 18.6%, to reach 182,855 in 2018. HNWI wealth will grow by 28.8%, to reach US$1.0 trillion by 2018. 
  • Singaporean HNWIs held 32.9% of their wealth outside their home country in 2013, equal to US$246.0 billion, which is higher than the global average of 20–30%.

Table of Contents

 

1 Introduction 
1.1 Details of this Report 
1.2 Definitions 

 

2 Executive Summary 

 

3 Wealth Sector Fundamentals 
3.1 Political Background 
3.2 Economic Background 
3.3 Social Background 
3.4 Benchmarking Singapore’s Wealth in Context 
3.4.1 Distribution of wealth in Singapore 
3.5 HNWI Volume and Wealth Trends 

 

4 Findings from the WealthInsight HNWI Database 
4.1 Trends in HNWI Wealth to 2018 
4.1.1 HNWI trend analysis 
4.1.2 Wealth band trends 
4.1.3 Demographic breakdown of HNWIs 
4.1.4 HNWIs – job titles 
4.1.5 HNWIs – industry breakdown 
4.1.6 HNWIs – industry performance 
4.2 UHNWIs 
4.2.1 UHNWI volume trend analysis 
4.2.2 UHNWI wealth trend analysis 
4.2.3 Demographic breakdown of UHNWIs 
4.2.4 UHNWIs – industry breakdown 
4.3 UHNWIs – Billionaires 
4.3.1 Billionaire volume trend analysis 
4.3.2 Billionaire wealth trend analysis 
4.3.3 Billionaire per capita net worth trend analysis 
4.3.4 List of billionaires 
4.4 UHNWIs – Centimillionaires 
4.4.1 Centimillionaire volume trend analysis 
4.4.2 Centimillionaire wealth trend analysis 
4.4.3 Centimillionaire per capita net worth trend analysis 
4.5 UHNWIs – Affluent Millionaires 
4.5.1 Affluent millionaire volume trend analysis 
4.5.2 Affluent millionaire wealth trend analysis 
4.5.3 Affluent millionaire per capita net worth trend analysis 
4.6 Core HNWIs 
4.6.1 Core HNWI volume trend analysis 
4.7 Core HNWIs – Mid-Tier Millionaires 
4.7.1 Mid-tier millionnaire volume trend analysis 
4.7.2 Mid-tier millionaire wealth trend analysis 
4.7.3 Mid-tier millionaire per capita net worth trend analysis 
4.8 Core HNWIs – Lower-Tier Millionaires 
4.8.1 Lower-tier millionaire volume trend analysis 
4.8.2 Lower-tier millionaire wealth trend analysis 
4.8.3 Lower-tier millionaire per capita net worth trend analysis 

 

5 Analysis of Singaporean HNWI Investments 
5.1 Analysis by Asset Class 
5.1.1 Trends in alternative assets 
5.1.2 Trends in ‘art, wine and wheels’ 
5.1.3 Trends of investments in real estate 
5.1.4 Investments trends in cash and deposits 
5.1.5 Investments trends in fixed-income 
5.1.6 Investment trends in equity 
5.1.7 Investment trends in business interests 
5.2 Analysis of Foreign Investments 
5.2.1 Investments in Europe 
5.2.2 Investments in North America (including the US, Singapore and the Caribbean) 
5.2.3 Investments in the Asia-Pacific 
5.2.4 Investments in Central and South America 
5.2.5 Investments in the Middle East 
5.2.6 Investments in Africa 
5.3 Alternative Breakdown: Liquid vs Investable Assets 
5.4 Analysis of Singaporean UHNWI Investments 

 

6 Competitive Landscape of the Wealth Sector 
6.1 Competitive Landscape 
6.1.1 Domestic private banks 
6.1.2 Foreign private banks 
6.1.3 Wealth managers 
6.1.4 Family offices 
6.1.5 Financial advisors 
6.2 Developments in the Singaporean Private Banking Industry 
6.3 Wealth Management and the Private Banking Industry 
6.4 Singaporean Wealth Management Industry – Clientele Model and Maturity 
6.5 Behavioral Mapping of Wealth Management and Private Banking in Singapore 
6.6 Porter’s Five Force Analysis – Wealth Management Industry 

 

7 Appendix 
7.1 Additional Components of the Singaporean Wealth Sector 
7.1.1 Philanthropy 
7.1.2 Demand for intergenerational wealth transfer 
7.2 Tax Regulations 
7.3 Regulations Related to Immigration, Investment and Employment 
7.4 Key Drivers 
7.4.1 SGD to US$ exchange rate 
7.4.2 Real GDP growth 
7.4.3 Per capita GDP 
7.4.4 Domestic market capitalization 
7.4.5 Commodity index 
7.4.6 Foreign direct investments – inflow and outflow 
7.4.7 Inflation 
7.4.8 Interest rate 
7.4.9 Balance of payments 
7.4.10 Government debt 
7.4.11 Stock market performance 
7.5 Wealth Breakdown 

 

8 About WealthInsight

 

List of Tables

 

Table 1: HNWI Wealth Band and Group Definitions 
Table 3: Singaporean HNWIs – Volume Distribution (%), 2013 
Table 4: Singaporean HNWIs – Wealth Distribution (%), 2013 
Table 5: Singaporean HNWIs – Industry Performance, 2009–2013 
Table 6: Singaporean UHNWIs – Gender Performance, 2009–2013 
Table 7: Singaporean UHNWIs – Sources of Wealth (%), 2013 
Table 8: Singaporean Billionaires – Market Overview (US$ Billion), 2009–2018 
Table 9: Top Seven Singaporean Billionaires (US$ Billion), 2013 
Table 10: Singaporean Billionaire Wealth Growth, 2009−2013 
Table 11: Singaporean Centimillionaires – Market Overview, 2009–2018 
Table 12: Singaporean Affluent Millionaires – Market Overview, 2009–2018 
Table 13: Singaporean Mid-Tier Millionaires – Market Overview, 2009–2018 
Table 14: Singaporean Lower-Tier Millionaires – Market Overview, 2009–2018 
Table 15: Singaporean Allocations of HNWI Assets, 2009–2018 
Table 16: Singaporean HNWIs − Holdings Growth (%), 2009–2018 
Table 17: Singaporean HNWIs – Alternative Asset Composition (%), 2009–2018 
Table 18: Singaporean HNWIs – Trends of Investments in Alternative Assets (%), 2009–2018 
Table 19: Singaporean Trends in ‘Art, Wine and Wheels’, 2009–2013 
Table 20: Global Prime Real Estate Prices per m2 (US$), 2014 
Table 21: Singaporean HNWIs – Foreign Investment Allocations (%), 2009–2018 
Table 22: Singaporean HNWIs – Liquidity Breakdown (US$ Billion), 2009–2018 
Table 23: Singaporean HNWIs – Liquidity Breakdown (%), 2009–2018 
Table 24: Singaporean UHNWIs – Allocations and Share of HNWI Assets, 2013 
Table 25: Leading Private Banks in Singapore by AuM (US$ Million), 2013 
Table 26: Singaporean Leading Foreign Private Banks, 2013 
Table 27: Singaporean Wealth Managers, 2013 
Table 28: Singaporean Family Offices, 2013 
Table 29: Wealth Management Industry – Recent Deal Activity in Singapore, 2013–2014 
Table 30: Singaporean Income Tax Bands (SGD), 2013 
Table 31: SGD per US$ Exchange Rate, 2009–2018 
Table 32: Singaporean Real GDP Growth (%), 2009–2018 
Table 33: Singaporean GDP per Capita (US$), 2009–2018 
Table 34: Singaporean Domestic Market Capitalization (US$ Billion), 2009–2013 
Table 35: Singaporean Commodity Indices, 2009–2018 
Table 36: Singaporean Foreign Direct Investments (US$ Billion), 2009–2018 
Table 37: Singaporean Inflation Rate (%), 2009–2018 
Table 38: Singaporean Interest Rate (%), 2009–2018 
Table 39: Singaporean Balance of Payments (US$ Billion), 2009–2013 
Table 40: Singaporean Government Debt as a Percentage of GDP (%), 2009–2018 
Table 41: Singaporean Stock Market Performance, 2009–2013 
Table 42: Singaporean HNWI Wealth vs GDP Ratio (%), 2009–2018 
Table 43: Singapore – Appendix One 
Table 44: Singapore – Appendix Two 

 

List of Figures

 

Figure 1: HNWI Wealth Band Definitions 
Figure 2: Map of Singapore 
Figure 3: Singaporean Asset Price Performance, 2009–2013 
Figure 4: Singaporean HNWI Performance, 2009–2018 
Figure 5: Singaporean vs Global HNWIs, 2008–2015 
Figure 6: Singaporean HNWIs – Growth Factor Correlation, 2009–2013 
Figure 7: Singaporean HNWIs – Volume Distribution Wealth Pyramid, 2013 
Figure 8: Singaporean HNWIs – Wealth Distribution Wealth Pyramid (%), 2013 
Figure 9: Singaporean HNWIs – Age Distribution (%), 2013 
Figure 10: Singaporean HNWIs – Job Titles, 2009–2013 
Figure 11: Singaporean HNWIs – Distribution by Industry (%), 2013 
Figure 12: Singaporean UHNWIs – Wealth Share vs Volume Growth (%), 2009–2013 
Figure 13: Singaporean UHNWIs – Volume by Wealth Band, 2009–2018 
Figure 14: Singaporean UHNWIs – Wealth by Wealth Band (US$ Billion), 2009–2018 
Figure 15: Singaporean UHNWIs – Age Distribution (Percentage Share), 2013 
Figure 16: Singaporean UHNWIs – Distribution by Industry (%), 2013 
Figure 17: Singaporean Billionaires – Market Overview, 2009–2018 
Figure 18: Singaporean Centimillionaires – Market Overview, 2009–2018 
Figure 19: Singaporean Affluent Millionaires – Market Overview, 2009–2018 
Figure 20: Singaporean Mid-Tier Millionaires – Market Overview, 2009–2018 
Figure 21: Singaporean Lower-Tier Millionaires – Market Overview, 2009–2018 
Figure 22: Singaporean HNWIs – Asset Class Composition, 2009–2018 
Figure 23: Singaporean HNWIs – Trends in Alternative Assets (US$ Billion), 2009–2018 
Figure 24: Singaporean Trends in ‘Art, Wine and Wheels’, 2009–2013 
Figure 25: Singaporean HNWIs – Foreign Investment Allocation and Growth (%), 2013 
Figure 26: Singaporean HNWIs – Global Distribution of Foreign Investments, 2009–2018 
Figure 27: Singaporean HNWIs – Liquidity Breakdown (%), 2009–2018 
Figure 28: Singaporean UHNWIs – Asset Class Composition (%), 2009–2018 
Figure 29: Singaporean Wealth Management Industry – Maturity Level of Operators 
Figure 30: Singaporean Wealth Management Industry – Behavioral Mapping, 2013 
Figure 31: Singaporean Wealth Management Industry – Five Forces Analysis 
Figure 32: SGD to US$ Exchange Rate, 2009–2018 
Figure 33: Singaporean Real GDP Growth (%), 2009–2018 
Figure 34: Singaporean GDP per Capita (US$), 2009–2018 
Figure 35: Singaporean Domestic Market Capitalization (US$ Billion), 2009–2013 
Figure 36: Singaporean Commodity Indices, 2009–2018 
Figure 37: Singaporean Foreign Direct Investments (US$ Billion), 2009–2018 
Figure 38: Singaporean Inflation Rate (%), 2009–2018 
Figure 39: Singaporean Interest Rate (%), 2009–2018 
Figure 40: Singaporean Balance of Payments (US$ Billion), 2009–2013 
Figure 41: Singaporean Government Debt as a Percentage of GDP (%), 2009–2018 
Figure 42: Singaporean Stock Market Performance, 2009–2013 
Figure 43: Singaporean HNWI Wealth vs GDP Ratio (%), 2009–2018 
Figure 44: Singaporean HNWIs – Volume by Wealth Band, 2009–2018 
Figure 45: Singaporean HNWIs – Wealth by Wealth Band (US$ Billion), 2009–2018 
Figure 46: Singaporean HNWIs – Wealth per Capita (US$ Million), 2009–2018

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