Wealth Landscape in Singapore: Market Sizing and Opportunities to 2022

Based on our proprietary datasets, this report analyzes Singapore’s wealth and retail savings and investments markets, with a focus on the HNW segment. This includes overall affluent market size (both by number of individuals and the value of their liquid assets) as well as a breakdown of liquid versus illiquid HNW holdings. The report also provides analysis of the factors driving liquid asset growth, including a breakdown and forecast of total retail savings and investments split by asset classes including deposits, mutual funds, equities, and bonds.

Singapore is one of the world’s pre-eminent offshore investment centers, but its domestic market is a major source of assets under management in its own right. Rising levels of affluence coupled with increasing numbers of Singaporean residents classed as HNW have made the domestic market attractive.

Affluent individuals represent over a quarter of the total adult population. The segment held 84.5% of the country’s total onshore liquid assets in 2018, with HNW investors alone holding over a third of the country’s wealth.

Singaporean HNW individuals hold the majority of their investments in liquid assets such as equities, mutual funds, deposits, and bonds – with investment in liquid assets accounting for 78.5% of their total investments in 2018. However, the proportion invested in illiquid investments has been steadily increasing, with the share of illiquid assets rising from 8.4% in 2008 to 21.5% in 2018.

Scope

- The country’s affluent individuals accounted for 26.7% of the total Singaporean population in 2018. Wealth held by HNW investors will grow strongly over the review period.

- Deposits remain the preferred investment avenue among Singaporean retail investors, accounting for 68% of total liquid retail savings and investments in 2018.

- Singaporean HNW individuals invest nearly half of their wealth outside the country, with tax efficiency being the main reason to invest offshore.

Reasons to buy

- Make strategic decisions using top-level historic and forecast data on Singapore’s wealth industry.

- Identify the most promising client segment by analyzing penetration of affluent individuals.

- Receive detailed insight into retail liquid asset holdings in Singapore, including deposits, mutual funds, equities, and bonds.

- Understand changing market and competitive dynamics by learning about new competitors and recent deals in the wealth space.

- See an overview of key digital disruptors in the country’s wealth market.

Companies mentioned

DBS

OCBC

HSBC

UOB

Maybank

Citibank

Standard Chartered

CIMB

RHB

Bambu Life

Sherelt

Miss Kaya

Schroders Plc

Thirdrock Pte Ltd

Octava Pte Ltd

Franklin Templeton ...

DBS

OCBC

HSBC

UOB

Maybank

Citibank

Standard Chartered

CIMB

RHB

Bambu Life

Sherelt

Miss Kaya

Schroders Plc

Thirdrock Pte Ltd

Octava Pte Ltd

Franklin Templeton Investments

Mamoru Taniya

Bambu Singapore Pte Ltd

Schroders Plc

Planar Investments Pte Ltd

SGG S.A.

Iyer Practice Advisers

Rozario family

Asia Wealth Platform (StashAway)

Table of Contents

Table of Contents

Executive Summary

Macroeconomic Overview

Singapore’s Wealth Market

Resident Retail Savings and Investments

Resident vs Non-Resident Investments in Singapore

Digital Disruptors

Recent Deals ...

Table of Contents

Executive Summary

Macroeconomic Overview

Singapore’s Wealth Market

Resident Retail Savings and Investments

Resident vs Non-Resident Investments in Singapore

Digital Disruptors

Recent Deals

Appendix

List of Tables

List of Figures

    Pricing

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