South-East Asia's wealth management growth booming

Business Materials 22 April 2008 07:11 (UTC +04:00)

( dpa ) - South-East Asia is seen as second only to China in growth potential for the wealth management field, a published survey said Tuesday.

Market volatility in the United States and Europe has done little to dent confidence in the industry, said the survey of wealth managers by Barclays Capital.

Asia's wealth management growth is not expected to slow over the next two years, according to the findings in The Straits Times.

South-East Asia is expected to see wealth management revenue growth of more than 15 per cent in the next two years, said 68 per cent of the respondents.

China was selected as the market with the highest revenue growth potential by 80 per cent of the 91 respondents from 57 wealth management organizations across Asia, excluding Japan.

South-East Asia emerged second. Nearly 60 per cent of the wealth managers expected annual revenue growth of more than 15 per cent from India, Taiwan and Hong Kong.