India’s wealth management industry seems to be least affected by global economic slowdown, with about two-third wealth managers in Asia expecting over 15 per cent annual growth in revenues from the country, says a survey.

Overall in Asia, the industry is projected to witness a revenue growth of more than 15 per cent per annum. According to a survey conducted by Barclays Capital, about 60 per cent wealth managers expected more than 15 per cent per annum revenue growth from India, Hong Kong and Taiwan with China expecting to have highest revenue growth potential in Asia over next two years.

The three most important product features over next two years are considered to be growth, liquidity and diversification, in descending order, followed by capital protection, it noted.

The survey involved 91 respondents of 57 key wealth management organisations from across non-Japan Asia, including asset managers, insurance companies, local and global retail banks etc. These wealth managers between them have over $five trillion of assets under management.

Market turmoil

Barclays Capitals also pointed out that the effect of the market turmoil is highlighted by changes in wealth managers recommended asset allocation for a global balanced-risk investor portfolio, with increased weighting in Asian equity, commodities, cash and bonds at the expense of US, European and Japan equity.  In the Asia region, 80 per cent of wealth managers indicated that their clients make substantial use of capital protection and 65 per cent use multi-asset investment strategies.