assets-of-asias-richest-to-grow-79-annually

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.

Rita Raagas De Ramos

September 26, 2008

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 trillion by 2012. The current market conditions only affect the near-term growth prospects but the long-term projections remain intact, Merrill Lynch says.

The ability to reallocate portfolios among asset classes and geographic focus, in many...

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