Around 60 per cent of India's Uber rich wealth is still parked in real estate and gold, according to a report by Bernstein. Uber rich individuals includes Ultra High Net Worth Individuals (UHNI), High Net Worth Individuals (HNI), and the Affluent class.
'Other sectors that manage the savings pools of Indians are giving tough competition to life insurance companies.'
'While investors believe in India's long-term growth story and resilience amid global uncertainty, they see near-term risks around the direction of a global trade war.'
Tatas, Ambanis, Adanis, Birlas contributed an average of Rs 800 crore to Rs 1,000 crore per family group.
Philanthropic contributions made by India's ultra high networth individuals (net wealth of over Rs 1,000 crore), also known as UHNIs, have fallen sharply to Rs 4,230 crore in FY22, from Rs 11,821 crore the previous financial year, according to the India Philanthropy Report 2023 by Dasra and Bain & Co, which was released on Wednesday. The report says that the dramatic fall, almost by a third, was due to the fact that contributions by the Azim Premji Foundation dropped by Rs 9,000 crore due to a share buyback of Wipro, which helped the foundation to access liquidity directly. However, the report laments that even excluding the Premji Foundation's contribution, "Indian UHNI contribution has not kept pace with wealth creation" and is "below par, with a 5 per cent contraction in FY2022".
Prices of luxury properties appreciated by 8-12 per cent during the last year across major cities and has breached the 2015 peak level, according to India Sotheby's International Realty. In its annual 'Luxury Outlook Survey 2023', India Sotheby's International Realty (ISIR) revealed that 61 per cent of High-Net-worth Individuals (HNIs) and Ultra High-Net-worth Individuals (UHNIs) are looking to buy luxury real estate during 2023-24. The sample size of the survey is more than 500 HNIs and UHNIs.
The amount of money Indians invested in foreign securities, property, and deposits in 2022 was likely the highest on record. At $2.1 billion, it was the largest spend for any 12-month period according to the Reserve Bank of India's (RBI's) data going back over a decade. The amount spent for each individual segment was also the highest.
The total wealth of the ultra HNIs, or those with a networth of over Rs 25 cr, grew by five per cent to Rs 1.35 lakh cr.
'The need for added safety has bolstered demand for charter flights in the last year and is expected to continue.'
The growth of ultra high net worth households (UHNHs) slowed down in 2015-16, growing at seven per cent.
'Then select those that are well-aligned with your risk-return profile and investment time horizon.'
In spite of a massive jump in the number of the uber rich and rich becoming richer, their contributions to charity continued to decline during the COVID-19 pandemic when a whopping 200 million-plus were forced into poverty, says a report. While CSR (corporate social responsibility) spends have increased from 12 per cent in FY15 (two years into mandatory CSR spends) to 23 per cent in FY21, charity by the uber rich slipped from 18 per cent of the total funding in FY15 to a paltry 11 per cent in FY21, says global consultancy Bain & Company and charity-focused domestic consultancy Dasra in their India Philanthropy Report 2022. The report said that donation from private foreign companies has contracted from around 26 per cent in overall private giving in FY15 to around 15 per cent in FY21.
The number of ultra-high networth individuals (UHNIs) having an investible surplus of over Rs 25 crore (Rs 250 million) rose 16 per cent to 1.17 lakh last fiscal, and this is estimated to triple to 3.43 lakh in the next three years.
According to a study released by Kotak Wealth and Crisil Research, ultra high net worth households as those with a minimum net worth of Rs 25 crore or $5 million, as the benchmark for qualifying into the UHNI segment.
The group had earmarked $400-million to fund its expansion in the private banking business globally, two years back. The group has already hired 57 professionals for its Indian operations and plans to enhance the staff strength to nearly 100 within the next six months.
These funds give the wealthy an option to invest in strategies that other equity products like mutual funds and portfolio management services cannot, says Nishant Agarwal.
Stressed asset funds could offer higher returns than traditional fixed-income funds, but holding period will be longer due to the risky underlying assets
It is easy to invest in exotic products but difficult to exit them. Think carefully before investing rather than being blown away by expected returns alone, suggests Mrin Agarwal, founder, Finsafe India.
As with stocks, real estate and art, investing in start-ups has emerged as an asset class in itself.
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