Assets of AsiaÆs richest to grow 7.9% annually
Merrill Lynch says wealth managers have a new target in Asia û the so-called emerging rich, particularly in China, India, Vietnam and Thailand.
The latest turmoil on Wall Street and its impact on financial markets and global economic growth will be a temporary setback for wealthy individuals in Asia-Pacific, but in the long-run a reallocation of assets will ensure that portfolio growth targets are on track, according to Merrill Lynch.
Merrill Lynch stands firm in its projection û initially released in June û that assets of high-net-worth individuals HNWIs in Asia-Pacific will grow at an annual rate of 7.9% to reach $13.9...
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