Challenges and Opportunities for the Wealth Sector in Singapore 2013

Date: September 4, 2013
Pages: 58
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US$ 1,995.00
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Publisher: WealthInsight
Report type: Strategic Report
Delivery: E-mail Delivery (PDF)
ID: CA18A920061EN
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Challenges and Opportunities for the Wealth Sector in Singapore 2013
SYNOPSIS
  • This report is the result of WealthInsight’s extensive research covering the high net worth individual (HNWI) population and wealth management market in Singapore.
  • The report focuses on HNWI performance between the end of 2007 (the peak before the global financial crisis) and the end of 2012. This enables us to determine how well the country's HNWIs have performed through the crisis.
SUMMARY

This report is a thorough analysis of Singapore's Wealth Management and Private Banking sector, and the opportunities and challenges that it faces.

SCOPE
  • Independent market sizing of Singapore HNWIs across five wealth bands
  • HNWI volume and wealth trends from 2008 to 2012
  • HNWI volume and wealth forecasts to 2017
  • HNWI and UHNWI asset allocations across 13 asset classes
  • Number of UHNWIs in each state and all major cities
  • Fastest growing cities and states for UHNWIs (2008-2012)
  • Insights into the drivers of HNWI wealth
REASONS TO BUY
  • The WealthInsight Intelligence Center Database is an unparalleled resource and the leading resource of its kind. Compiled and curated by a team of expert research specialists, the database comprises dossiers on over 60,000 HNWIs from around the world.
  • The Intelligence Center also includes tracking of wealth and liquidity events as they happen and detailed profiles of major private banks, wealth managers and family offices in each market.
  • With the Database as the foundation for our research and analysis, we are able obtain an unsurpassed level of granularity, insight and authority on the HNWI and wealth management universe in each of the countries and regions we cover.
  • Report includes comprehensive forecasts to 2017.
KEY HIGHLIGHTS
  • There were just over 183,000 HNWIs in Singapore in 2012. These HNWIs collectively held US$857 billion in wealth, which equated to 85.7% of the total individual wealth held in the country.
  • Singaporean HNWIs outperformed the global average during the review period – worldwide HNWI volumes decreased by 0.3% while Singapore HNWI numbers increased almost by 100%.
  • In 2012, Singapore HNWI numbers rose by 21.7%, following an increase of 4.2% in 2011.
  • Growth in HNWI wealth and volumes are expected to improve over the forecast period. The total number of Singaporean HNWIs is forecast to grow by 59% to reach over 291,579 in 2017. HNWI wealth is projected to grow by 63% to reach US$1.39 trillion by 2017.
1 INTRODUCTION

1.1 Details of this Report
1.2 Definitions

2 EXECUTIVE SUMMARY

3 WEALTH SECTOR FUNDAMENTALS

3.1 Political Background
3.2 Economic Background
3.3 Benchmarking Singapore Wealth in Context
  3.3.1 World statistics
  3.3.2 Distribution of wealth in Singapore
3.4 HNWI Volume and Wealth Trends

4 COMPETITIVE LANDSCAPE OF THE WEALTH SECTOR

4.1 Competitive Landscape
  4.1.1 Private banks
  4.1.2 Wealth managers
  4.1.3 Family Offices
  4.1.4 Financial advisors
4.2 Wealth Management Industry – Clientele Model and Maturity
4.3 Behavioral Mapping of Wealth Management and Private Banking in Singapore
4.4 Financial Services Review
  4.4.1 Retail banks
  4.4.2 Hedge funds

5 APPENDIX

5.1 Additional Components of the Wealth Sector in Singapore
  5.1.1 Philanthropy
  5.1.2 Demand for Intergenerational Wealth Transfer
  5.1.3 Human Resource Availability for the Wealth Management Industry
5.2 Regulations on Taxes
5.3 Regulations Related to Immigration, Investment and Employment
5.4 Economic Indicators
  5.4.1 LC to US$ exchange rate
  5.4.2 Real GDP growth
  5.4.3 Per capita GDP
  5.4.4 Domestic market capitalization
  5.4.5 Commodity index
  5.4.6 Foreign direct investment
  5.4.7 Inflation rate
  5.4.8 Interest rate
  5.4.9 Balance of payments
  5.4.10 Government debt
  5.4.11 Stock market performance
  5.4.12 Wealth Breakdowns

6 ABOUT WEALTHINSIGHT

LIST OF TABLES

Table 1: HNWI Wealth Band and Group Definitions
Table 2: Main Regions in Singapore
Table 3: Top Private Banks in Singapore, 2012
Table 4: Singapore: 10 most populous departments, 2012
Table 5: Singapore City Multi-Family Office
Table 6: Singaporean Single-Family Offices
Table 7: Major Banks in Singapore, 2012
Table 8: Singapore Allocations of HNWI Assets (%), 2007−2017
Table 9: SGD to US$ Exchange Rate, 2008–2017
Table 10: Singapore Real GDP Growth, 2008–2017
Table 11: Singapore GDP Per Capita, 2008–2017
Table 12: Singapore Domestic Market Capitalization (US$ Billions) 2008–2012
Table 13: Singapore Commodity Indices, 2008–2017
Table 14: Singapore Foreign Direct Investments (US$ Billions) 2008–2017
Table 15: Singapore Inflation Rate, 2008–2017
Table 16: Singapore Money Market Rate, 2008–2017
Table 17: Singapore Balance of Payments (US$ Billions) 2008–2012
Table 18: Singapore Government Debt to GDP, 2008–2017
Table 19: Singapore Stock Market Performance, 2008–2012
Table 20: Singapore HNWI Wealth vs GDP Ratio, 2008–2017
Table 21: Singapore Appendix Two
Table 22: Singapore Appendix Two

LIST OF FIGURES

Figure 1: HNWI Wealth Band Definitions
Figure 2: Map of Singapore
Figure 3: Singapore: Asset Price Performance, 2008–2012
Figure 4: Singapore HNWI Performance, 2008–2017
Figure 5: Singaporean HNWIs vs the World
Figure 6: Singapore: Wealth Management Industry – Maturity Level of Players
Figure 7: Singapore: Behavioral Mapping of HNWIs, 2012
Figure 8: SGD to US$ Exchange Rate, 2008–2017
Figure 9: Singapore Real GDP Growth (%), 2008–2017
Figure 10: Singapore GDP Per Capita, 2008–2017
Figure 11: Singapore Domestic Market Capitalization (US$ Billions) 2008–2012
Figure 12: Singapore Commodity Indices, 2008–2017
Figure 13: Singapore Foreign Direct Investments (US$ Billions) 2008–2017
Figure 14: Singapore Inflation Rate, 2008–2017
Figure 15: Singapore: Money Market Rate, 2008-2017
Figure 16: Singapore Balance of Payments (US$ Billions) 2008–2012
Figure 17: Singapore Government Debt to GDP, 2008–2017
Figure 18: Singapore Stock Market Performance, 2008–2017
Figure 19: Singapore HNWI Wealth vs GDP Ratio, 2008–2017
Figure 20: Singaporean HNWIs – Volume by Wealth Band, 2008–2017
Figure 21: Singaporean HNWIs – Wealth by Wealth Band (in US$ Billions), 2008–2017
Figure 22: Singaporean HNWIs – Wealth Per Capita (in US$ Billions), 2008–2017

COMPANIES MENTIONED

Standard Chartered Private Bank
UOB Private Banking
DBS Private Bank
Bank of Singapore Ltd

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Challenges and Opportunities for the Wealth Sector in Singapore 2013
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