A recent survey by HSBC has revealed that the youngest affluent populations in Asia are in China, Indonesia and India, with average ages of 36, 38 and 39 respectively.

Date: Sept 23, 2011

Tags: Affluent, RMB, Diversification

A recent survey by HSBC has revealed that the youngest affluent populations in Asia are in China, Indonesia and India, with average ages of 36, 38 and 39 respectively.

The survey, HSBC Affluent Asian Tracker, said 61% of affluent Asians saw an increase in their wealth in the first half of 2011, and showed an appetite for diversification along with a tendency towards a balanced risk mentality among affluent Asians.

Bruno Lee, regional head of wealth management for HSBC in Asia-Pacific, said he expects affluent Asians to gradually become “all weather investors”.

Said Lee: “In the last year, despite market disruptions caused by events in Japan and the Middle East, inflationary pressures in the region and continued uncertainty in the west, the majority of affluent Asians said they increased their wealth, capturing opportunities in the stock and foreign exchange markets.”

In particular, the survey showed the appetite among Hong Kong’s affluent population for RMB products, with 45% of them planning to increase RMB deposits in the second half of 2011. Affluent individuals in Hong Kong were also found to hold the highest average liquid assets at US$315,116.

The survey also pointed out that Asia’s new investors, especially those from faster-growing markets in Indonesia, India and China, tend to adopt a balanced approach to investing across all markets. And around one-fifth of respondents in India and China plan to invest in structured products and bonds for the first time.

The HSBC Affluent Asian Tracker was conducted from March to May 2011, covering Australia, Hong Kong, India, Indonesia, mainland China, Malaysia, Singapore and Taiwan, and involving more than 4,400 respondents aged from 18 to -65 in the top 10% of the population, based on average liquid assets or mortgage value.