Emerging Opportunities in the Indian Wealth Management Industry: Market Size, Strategies, Products and Competitive Landscape
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SynopsisThe report provides detailed market analysis, information and insights, including:• In-depth analysis of wealth management strategies adopted by Indian banking and financial institutions• How companies in India are adopting marketing strategies to succeed in the wealth management industry • Key trends and drivers supporting the growth of the wealth management industry in India• Challenges faced by companies in the Indian wealth management industry• Company-wise analysis of marketing strategies and product offerings in the wealth management industry
Summary
India's GDP grew at an annual growth rate of 8% in 2011 and has a strong growth outlook. This makes the country an attractive investment location for wealth management firms. India has the main components that comprise a high-growth wealth management market, including: a very large and young affluent customer base, an improving wealth situation among global Indians, a goal to more tightly regulate financial services by the Indian government, and an increasing share of organized companies compared to the unorganized workforce. India currently has the fourth-largest number of high net worth individuals (HNWIs) in the Asia-Pacific region, after Japan, China and Australia. There were over 250,000 HNWIs in India, which cumulatively owned assets that valued over US$1 trillion in 2011. The volume of HNWIs in India increased at a compound annual growth rate (CAGR) of 7.20% during the review period (2007–2011), while the total HNWI wealth increased in value at a CAGR of 2.47%.
Scope• This report provides an extensive analysis of the Indian wealth management industry, including market sizing by asset classification• The report highlights various asset classes available for HNIs and also classifies the investment made by the HNIs in each of the mentioned asset classes• It also provides an analysis of marketing strategies used by banking and financial services companies in India• The report provides a detailed understanding of the product offerings of banking and asset management companies • It also provides insights into the strategies that companies can adopt to succeed in the industry to strengthen market position
Reasons To Buy
• Gain in-depth insight into the wealth management industry and the strategies used in India.
• Understand the various market dynamics of the wealth management industry in India.
• Take informed decisions and formulate effective strategies based on the report's detailed market insights on Indian wealth management.
• Understand the growth strategies adopted by key companies.
Key Highlights• HNWIs in India are expected to increase their number of equity asset allocations over the forecast period, while reducing their number of fixed-income and cash assets.• As the wealth management market in India matures, Indian HNWIs are expected to significantly increase their investments in sophisticated wealth alternatives, such as hedge funds, private equity and venture capital.• The regulatory environment in the Indian wealth management market is evolving, which presents opportunities for established wealth managers to expand their product and service offerings in the country. The government is planning to implement regulations covering fiduciary duties and investor protection.• Commercial banks, private wealth management companies and asset management companies in India are adopting various marketing strategies to become successful in the Indian wealth management market.• India's wealth management market is highly fragmented, which is not surprising as it is in an early stage of development. The organized service providers, such as commercial banks and wealth management companies, have so far focused mainly on the urban population, leaving an underexplored customer base of approximately one-fifth.
Table of Contents1 Executive
Summary2 Indian Wealth Management Market Environment2.1 Macroeconomic Fundamentals2.1.1 GDP at constant prices2.1.2 Inflation rate2.1.3 Annual disposable income2.1.4 Market capitalization2.1.5 Bank repo rate2.2 Regulatory Framework2.2.1 Investor protection2.2.2 Evolving tax laws3 Market Size and Growth Potential of Indian Wealth Management3.1 Wealth Management Market in India3.2 Wealth Management Market by Asset Class3.2.1 Direct equity3.2.2 Bank deposits3.2.3 Mutual funds3.2.4 Life insurance3.2.5 Alternative assets3.3 Market Size of Indian Wealth Management by HNWIs3.3.1 High net worth individuals (HNWIs)3.3.2 Ultra-high net worth individuals (UHNWIs)3.3.3 The core high net worth individuals (core HNWIs)3.4 HNWI Investments by Asset Class3.4.1 Investment trends in liquid assets – equity, fixed income and cash deposits3.4.2 Investment trends in cash and deposits3.4.3 Investments in real estate3.4.4 Investment trends in equity3.4.5 Trends in art, wine and automobiles4 Wealth Management Services in India4.1 Portfolio Management and Portfolio Rebalancing4.1.1 Kotak Mahindra portfolio management services4.1.2 ICICI Bank portfolio management services4.1.3 HSBC India portfolio management services4.1.4 Deutsche Bank portfolio management services4.1.5 Karvy Wealth portfolio management and rebalancing services4.2 Trusts and Estate Planning and Management4.2.1 Kotak Wealth estate planning services4.2.2 Client Associates's estate planning service4.2.3 The Royal Bank of Scotland estate planning services4.2.4 HSBC estate planning service4.3 Private Banking and Financing4.3.1 HDFC private and preferred banking services4.3.2 ICICI private and privilege banking services4.3.3 Kotak Mahindra privy league private banking service4.4 Tax Planning and Management4.5 Investment Management and Advisory4.5.1 ICICI Bank investment advice4.5.2 Client Associates (CA) investment management services4.5.3 Kotak wealth and investment management services5 Trends and Growth Drivers5.1 Emergence of Private-Investment Banking in India5.2 Increasing HNWIs Volume and Wealth Value5.3 Changing Consumer Attitudes are Encouraging Retail Banking Growth5.4 Increasing Service Options from Wealth Management Companies5.5 Targeting Mass Customer Base Rather than HNWIs5.6 Real GDP Growth Rate5.7 Annual Average Exchange Rate (INR-US$)5.8 Government Initiatives to Attract the Wealth of Overseas Indians5.9 Increasing Remittances from Non-Resident Indians (NRIs)6 Marketing and Growth Strategies of Indian Wealth Management Service Providers6.1 Marketing Strategies6.2 Product Diversification6.3 Optimization of Risk Management Services6.4 Enhancing the Quality of Investment Advisors and Managers6.5 Partnering with Assets Management Companies6.6 Utilizing Social Media to Interact With Clients7 Strategies to Succeed in the Indian Wealth Management Market7.1 Maintaining Low Overhead Costs7.2 Building an Effective Distribution Strategy7.3 Capitalizing on Technology7.4 Understanding the Changing Consumer Requirements7.5 Long-Term Commitment Required7.6 Brand Building7.7 Transparency and Regulatory Adherence7.8 360 Degree View of Investment8 Challenges8.1 Regulatory Issues8.1.1 Taxation8.2 Tightening Government Control8.3 Lack of Talent and Geography of Operation8.4 Reputation Issues8.5 Underdeveloped Product Offerings8.6 Self-Management of Wealth9 Competitive Landscape9.1 Industry Structure9.2 Wealth Managers and Private Banks9.2.1 Public-sector banks9.2.2 Wealth managers9.2.3 Private-sector banks9.2.4 Foreign banks and MNCs10 Company Profile10.1 Housing Development Finance Corporation Bank (HDFC)10.1.1 Company overview10.1.2 Business segmentation10.2 ICICI Bank Ltd10.2.1 Company overview10.2.2 Business segmentation10.3 Kotak Mahindra Bank10.3.1 Company overview10.3.2 Business segmentation10.4 AXIS Bank Limited10.4.1 Company overview10.4.2 Business segmentation10.5 Other Private Banks10.5.1 DBS Bank Ltd (India)10.5.2 Deutsche Bank (India)10.5.3 Standard Chartered Bank (India)10.5.4 HSBC (India)10.5.5 SG Private Banking (India)10.6 Non-Banking Investment Management Companies in India10.6.1 Edelweiss Financial Services Limited10.6.2 Client Associates10.6.3 Karvy Private Wealth11 Appendix11.1 About BRICdata11.1.1 Definitions11.1.2 Areas of expertise11.2 Methodology11.3 Disclaimer
List of Tables
Table 1: Indian GDP at Constant Prices (US$ Billion), 2007–2016 (Base Year 1999–2000)
Table 2: Indian Inflation Rate (%), 2007–2016
Table 3: Indian Annual Disposable Income (US$ Billion), 2007–2016
Table 4: Indian Repo Rate (%), April 2009 – April 2012
Table 5: Indian Wealth Management Market Size by Asset Class (US$ Billion), 2007–2011
Table 6: Indian Wealth Management Market Share by Asset Class (%), 2007–2011
Table 7: Indian Initial Public Offerings (US$ Billion), 2007–2011
Table 8: Indian Large IPOs in 2011
Table 9: Indian Total Bank Deposits (US$ Billion), 2007–2011
Table 10: Indian HNWIs Volume by Wealth Bands, 2007–2011
Table 11: Indian HNWIs Volume by Wealth Bands, 2012–2016
Table 12: Indian HNWIs Value by Wealth Band (US$ Billion), 2007–2011
Table 13: Indian HNWIs Value by Wealth Band (US$ Billion), 2012–2016
Table 14: Indian UHNWIs Volume by Type of HNWI, 2007–2011
Table 15: Indian UHNWIs Volume by Type of HNWI, 2012–2016
Table 16: Indian UHNWIs Value by Type of HNWI (US$ Billion), 2007–2011
Table 17: Indian UHNWIs Value by Type of HNWI (US$ Billion), 2012–2016
Table 18: Indian Core HNWIs Volume by Type of HNWI, 2007–2011
Table 19: Indian Core HNWIs Volume by Type of HNWI, 2012–2016
Table 20: Indian Core HNWIs Value by Type of HNWI (US$ Billion), 2007–2011
Table 21: Indian Core HNWIs Value by Type of HNWI (US$ Billion), 2012–2016
Table 22: Indian HNWI Liquid Asset Composition (%), 2007–2016
Table 23: Indian Real GDP Growth Rate (%), 2008–2016
Table 24: Indian Annual Exchange Rate (INR-US$), 2007–2011
Table 25: Indian Wealth Management Companies
Table 26: Karvy Private Wealth: Main Services
Table 27: Indian Annual Exchange Rate (INR–US$), 2007–2011
Table 28: Definitions
List of FiguresFigure 1: Indian GDP at Constant Prices (US$ Billion), 2007–2016 (Base Year 1999–2000)Figure 2: Indian Inflation Rate (%), 2007–2016Figure 3: Indian Annual Disposable Income (US$ Billion), 2007–2016Figure 4: Indian Market Capitalization (US$ Billion), 2007–2011Figure 5: Indian Repo Rate (%), April 2009 – April 2012Figure 6: Indian Wealth Management Market Size by Asset Class (US$ Billion), 2007–2011Figure 7: Indian Initial Public Offerings (US$ Billion), 2007–2011Figure 8: Bombay Stock Exchange Performance (500 Index), 2000–2012Figure 9: Indian Market Capitalization (US$ Billion), 2007–2011Figure 10: Indian Total Bank Deposits (US$ Billion), 2007–2011Figure 11: Indian Asset Under Management of Mutual Funds (US$ Billion), 2007–2011Figure 12: Indian Life Insurance Market Size (US$ Billion), 2007–2016Figure 13: Indian Life Insurance Total Assets (US$ Billion), 2007–2016Figure 14: India Gold Demand Volume (Tonnes), 2007–2011Figure 15: India Gold Demand Value (US$ Billion), 2007–2011Figure 16: Indian Art Funds Market Size (US$ Million), 2007–2011Figure 17: Indian Wealth Management Market Customers – HNWI CompositionFigure 18: Indian HNWIs Volume, 2007–2011Figure 19: Indian HNWIs Volume, 2012–2016Figure 20: Indian HNWIs Value (US$ Billion), 2007–2011Figure 21: Indian HNWIs Value (US$ Billion), 2012–2016Figure 22: Indian HNWIs Regional Distribution (% Share), 2011Figure 23: Indian UHNWIs Volume by Type of HNWI, 2007–2011Figure 24: Indian UHNWIs Volume by Type of HNWI, 2012–2016Figure 25: Indian UHNWIs Value by Type of HNWI (US$ Billion), 2007–2011Figure 26: Indian UHNWIs Value by Type of HNWI (US$ Billion), 2012–2016Figure 27: Indian UHNWIs Regional Distribution (% Share), 2011Figure 28: Indian Core HNWIs Volume by Type of HNWI, 2007–2011Figure 29: Indian Core HNWIs Volume by Type of HNWI, 2012–2016Figure 30: Indian Core HNWIs Value by Type of HNWI (US$ Billion), 2007–2011Figure 31: Indian Core HNWIs Value by Type of HNWI (US$ Billion), 2012–2016Figure 32: Indian Core HNWIs Regional Distribution (% Share), 2011Figure 33: Asset Class Composition (% Share), 2007–2016Figure 34: Indian HNWI Liquid Asset Composition (US$ Billion), 2007–2016Figure 35: HNWIs – Investment in Cash and Deposits (US$ Billion), 2007–2016Figure 36: Indian HNWI Investment in Real Estate (US$ Billion), 2007–2016Figure 37: Indian HNWI Investment in Equities (US$ Billion), 2007–2016Figure 38: Indian Wealth Management ServicesFigure 39: Indian Wealth Management Trends and Growth DriversFigure 40: Non-Resident Indian Remittances (US$ Billion), 2007–2011Figure 41: ICICI Bank – Official Twitter PageFigure 42: ICICI Bank – Official Facebook PageFigure 43: HDFC Bank – Official Twitter PageFigure 44: Strategies to Succeed in the Indian Wealth Management MarketFigure 45: A Unified View of Customer InvestmentFigure 46: Indian Wealth Management Challenges
Companies mentionedHousing Development Finance Corporation Bank (HDFC)ICICI Bank LtdKotak Mahindra BankAXIS Bank LimitedDBS Bank Ltd (India)Deutsche Bank (India)Standard Chartered Bank (India)HSBC (India)SG Private Banking (India)Edelweiss Financial Services LimitedClient AssociatesKarvy Private Wealth
To order this report:Private Banking Industry: Emerging Opportunities in the Indian Wealth Management Industry: Market Size, Strategies, Products and Competitive LandscapeCheck our Industry Analysis and Insights
Nicolas Bombourg
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