The report, compiled annually by Capgemini and, since last year, in association with RBC Wealth Management, found the wealth of the world’s HNWIs leapt by 10% last year to reach a record high of $46.2trn, after slipping by 1.7% in 2011.
One million individuals joined the global HNWI population last year, the report’s researchers found, bringing it up to to 12 million, an increase of over 2011’s total of 9.2%.
For the purposes of this report, HNWIs are defined as those having investable assets of $1m or more, and ultra-HNWIs has having investable assets of $30m or more, excluding their primary residence, collectibles, consumables, and consumer durables.
North America roars back…
The wealthy residents of Canada and the US enabled North America to reclaim its position as the largest HNWI market in 2012, after it slipped into second place, behind Asia-Pacific’s HNWIs, in 2011.
The total population of North American HNWIs touched 3.73 million last year, a mere 50,000 very rich individuals more than Asia-Pacific’s total of 3.68 million.
The total wealth of those North American HNWIs reached $12.7trn, $700bn more than the combined wealth held by Asia-Pacific’s wealthy.
…but ‘eclipse’ seen
Capgemini Global Financial Services’ chief sales and marketing officer, Jean Lassignardie, noted that North America’s lead in both HNWI population and wealth is likely to be eclipsed again in the future, as it was in 2011 by Asia-Pacific.
"Interestingly, while North America led in HNWI population [last year], Asia-Pacific actually had a higher overall wealth growth rate at 12.2%, compared to North America’s 11.7%," Lassignardie said.
HNWI perspectives and behaviour
The 2013 edition of the World Wealth Report is the 17th, but it is also the first to include the findings of recent research into global HNWI "perspectives and behaviour", Capgemini and RBC Wealth Management noted in unveiling the full report. The so-called Global HNW Insights Survey was compiled from the responses of more than 4,400 high net worth individuals across 21 countries and "explores HNWI confidence levels, asset allocation decisions, as well as their wealth management advice and service preferences", Capgemini and RBC Wealth noted.
