Sat, Jan 21, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Timetric research finds Singapore will overtake Switzerland as largest offshore banking centre

Tuesday, April 09, 2013

Beverly Chandler, Opalesque London: Latest research from Timetric finds that Singapore is the fastest growing wealth centre in the Asia Pacific region and that Singapore will overtake Switzerland as the largest global offshore private banking market by 2020. The firm writes: "With Assets under Management (AuM) of US$550 billion at the end of 2011, new research reveals that Singapore is the fastest growing wealth centre in the world, and will be the largest offshore private banking market by 2020. This reflects the significant disparity in the performance of the HNWI sectors in the Asia-Pacific region and the rest of the world, and suggests a bright future for HNWIs in the region."

The research covered the high net worth individual (HNWI) populations in 13 Asia Pacific countries, focusing on HNWI performance between 2007 (the peak before the global financial crisis) and the end of 2011. The firm claims that this enables them to determine how well each country's HNWIs have performed through the crisis.

Singapore has seen its AUM rise from US$50 billion in 2000 to US$550 billion in 2011. The firm says: "Singapore will benefit from the movement of funds away from Switzerland, Luxemburg and the Caribbean over the next seven years, and by 2020 will be the largest global offshore banking market by AuM."

Key findings in the report include:

  • As of 2011, there are approximately 2.......................

    To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Investing - This hedge fund made 37% betting on banks in 2016 and remains bullish after the Trump rally, Hedge fund legend David Einhorn is making a big bet on GM, After impressive 85% return in 2016, hedge fund looks to Canadian gold producer, small banks[more]

    This hedge fund made 37% betting on banks in 2016 and remains bullish after the Trump rally From Forbes.com: Can bank stocks continue to rise after a 28% surge in the KBW Bank Index in 2016, fueled by a post-election rally as stock pickers returned to the beaten down sector? Forget the s

  2. SWFs - China sovereign wealth fund CIC plans more U.S. investments[more]

    From Reuters.com: China Investment Corporation (CIC), the country's sovereign wealth fund, is looking to raise alternative investments in the United States due to low returns in public markets, its chairman said on Monday. CIC will boost its investments in private equity and hedge funds as wel

  3. Some hedge funds strong start in 2017 nice contrast to 2016[more]

    With the 2016 HSBC Hedge Weekly performance rankings in the books - a year in which the same leader-board entries pretty much dominated unchallenged throughout the year - comes a new leader board that is a hard-scrabble mix of hedge fund styles and categories. What is clear after but a few short wee

  4. Macro hedge funds and CTAs outperform in December on strong dollar[more]

    Komfie Manalo, Opalesque Asia: The last month of 2016 saw risk assets climbing higher, as part of expectations that the new U.S. administration will remove barriers to growth and investment, Lyxor Asset Management said. December also saw the Fed hik

  5. Opalesque Exclusive: Roxbury credit events UCITS gathers more assets[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: The Roxbury Credit Events Fund, launched in September 2015, was up 4.24% in 2016, having returned seven positive months during the year. The managers raised