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市場調查報告書
新加坡的財富經營管理:2011年
Wealth Management in Singapore 2011
| 出版商 |
Datamonitor |
| 出版日期 |
2011年07月 |
商品編碼 |
208011 |
| 內容資訊 |
英文 Pages: 108 |
| 價格 |
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新加坡的財富經營管理:2011年 是由出版商Datamonitor在2011年07月所出版的。
這份英文市場調查報告書包含Pages: 108 價格從美金4495起跳。
新加坡在全球財富經營管理市場上佔最主要的地位，並為主要企業的重要市場。國內市場上則是小規模、高淨值(HNW)客戶與資產運用額正速增加中。
本報告提供新加坡財富經營管理市場調查，彙整各競爭公司的策略、鎖定客戶、行銷/商品策略、目標群客戶的規模，理解客戶需求等等相關考察，為您概述為以下內容。
第1章 概要
第2章 摘要整理
- 新加坡的高淨值投資者(HNW)財經市場受強而有力的地區經濟推動，正急速成長中
- 新加坡的富裕階層集中在中老年的男性創業者中
- 新加坡的財經市場為全球大多數的主要企業與國內的強勢銀行競爭
第3章 新加坡的富裕階層市場的規模與預測
- 簡介
- 新加坡主要的宏觀經濟學資料
- 新加坡的財富經營管理法規
- 國內富裕階層人口規模
- 新加坡國內富裕階層市場預測
- 新加坡的委外市場規模數倍於境內市場
第4章 新加坡的富裕階層客戶
- 新加坡高淨值投資者(HNW)大多為中老年的男性創業者
- 新加坡的高淨值投資者(HNW)主要為現金和股分公司的投資
- 新加坡的高淨值投資者(HNW)的財務規劃需求高，但信用卡的重要性也日益增加
- 新加坡的高淨值投資者(HNW)有豐富的金融知識，並對財富合作夥伴很忠實
- 新加坡的高淨值投資者(HNW)有將財富分散交由複數的經營管理企業管理的趨勢
第5章 新加坡的財富經營管理的競爭情形
- 新加坡的財富經營管理企業經營模式非常多樣化
- 競爭企業趨勢
- 新加坡的財富經營管理市場的主要企業
- 競爭企業簡介
附錄
Abstract
Introduction
Singapore has taken its place as one of the leading wealth management centers
of the world, making it key market for any major player. The domestic market,
though small, is characterized by rapid growth in HNW clients and their AUM.
Its highly competitive nature makes an in-depth understanding of the local
market dynamics, competitive landscape and client needs critical for success.
Features and benefits
- Build your customer targeting strategy using in-depth HNW demographics and
needs analysis based on Datamonitor' s annual Global Wealth Manager Survey
- Assess your competition through detailed profiles of notable players,
including the customer targeting, marketing and product strategies they employ.
- Size your potential client base using Datamonitor' s proprietary data,
presenting the number of affluent individuals by liquid asset band to 2014.
Highlights
Growth in the value of the assets held onshore by HNW Singaporeans is forecast
to be strong over the next four years. Much of the growth in asset values will
be underpinned by the global economic recovery and the enduring strength of
the regional economy.
The HNW market in Singapore is dominated by male entrepreneurs or business
owners aged 31 - 50, in contrast to the wider Asia Pacific region which has a
more evenly distributed age and gender profile. In terms of life stages these
individuals are also very likely to be coping with the demands of family and
at-home children.
The market in Singapore has become crowded as foreign banks from elsewhere in
Asia as well as further afield in Europe and North America seek to use the
country as a base from which to gain exposure to Asian growth and rising
affluence.
Your key questions answered
- What strategies are my competition employing to win and keep affluent
clients?
- What is the potential market for a private banking or mass affluent
proposition in Singapore?
- What are the most effective acquisition techniques that I should use to
build up my client base?
- What products and services will have the strongest client demand going
forward?
Table of Contents
OVERVIEW
- Catalyst
- Summary
- Methodology
EXECUTIVE SUMMARY
- The Singapore HNW wealth market is racing ahead, fueled by strong local
and regional economies
- There are more than 25,000 high net worth individuals in Singapore
- HNW Singaporeans will see their wealth grow by an average of 15% each
year from 2010 to 2014
- Strong real GDP growth in Singapore and around the region has fueled the
rising affluence
- Affluent Singaporeans are concentrated among middle-aged male entrepreneurs
- Singaporean HNW individuals have the most wealth invested in equities
and corporate debt, making them fully exposed to any improvements in the
global economy
- Looking forward two years, strong demand for advisory asset management
is expected from HNW clients
- The wealth market in Singapore contains most of the leading players from
around the world as well strong local banks
- The Singapore wealth management market is predominantly asset
management-led offshore and bank-led onshore
- Many leading private wealth managers already have a presence in the city
and are upgrading their operations
- Being able to offer exposure to the Chinese yuan has become a key
competitive advantage for wealth managers
SIZING AND FORECASTING THE AFFLUENT MARKET IN SINGAPORE
- Introduction
- Key macroeconomic data for Singapore
- Macroeconomic trends and performance
- GDP
- Inflation
- Long-term and short-term interest rates
- Stock market capitalization
- Income distribution
- Regulation of wealth management in Singapore
- Key institutions and players
- Recent legislation and regulatory changes
- Sizing the onshore affluent population
- The number of affluent individuals has grown at an impressive rate since
the credit crunch
- Value of affluent assets in Singapore
- Forecasting the onshore affluent market in Singapore
- The number of affluent individuals will rise steadily, supported by a
buoyant economy
- The projected value of assets will grow throughout the forecast period
- The offshore market of Singapore is many times the size of its onshore
counterpart
- The offshore market in Singapore is attractive for many wealthy
investors from around the world
- Offshore AUM are sourced primarily from neighboring countries, making a
regional network an asset
HIGH NET WORTH CUSTOMERS IN SINGAPORE
- Most Singaporean HNWs are middle-aged male entrepreneurs
- Most HNW individuals in Singapore are in the prime earning years of
their life
- Women account for only a minor proportion of HNWs in Singapore
- The bulk of HNWs have amassed their fortunes through entrepreneurship
- Singaporean HNWs typically invest in cash and equities
- Wealth managers in Singapore will need to work at getting clients out of
cash and into broad asset class terms
- Detailed asset class analysis shows that Singaporean HNWs have the most
wealth invested in equities
- Within two years, equities will see the biggest positive reallocation in
Singapore HNW portfolios, so it is critical that managers are able to give
their clients cheap and efficient exposure to global stock markets
- There is a high demand for financial planning among Singaporean HNWs, but
credit cards are set to become increasingly important
- HNWs in Singapore have access to many services not commonly offered
elsewhere in the region
- Singapore HNWs currently have a strong appetite for execution-only
services, but advisory asset management will grow
- Looking forward two years, strong demand for advisory asset management
is expected
- Developing a plan and a clear picture of a client' s finances will be
very much in demand among HNWs
- Singapore HNWs are financially sophisticated and tend to stick with their
wealth partners
- HNW clients in Singapore are more open to offshore investments than
their peers across the region
- A high premium is placed on personal relationships, making face-to-face
meetings important
- New entrants to the Singapore market can buy a client base by poaching
more established banks' talent
- Singaporean HNWs tend to spread their wealth among multiple managers
- Many Singapore wealth managers will be responsible for only 10% of a
client' s AUM but can obtain up to 50%
- Customer referrals are the most effective means of customer acquisition
- Wealth managers need to remember that what works in the rest of Asia
Pacific does not necessarily fly in Singapore
COMPETITOR DEVELOPMENTS IN SINGAPORE WEALTH MANAGEMENT
- The business models of Singapore wealth managers are mixed
- The Singapore wealth management market is predominantly asset
management-led offshore, and bank-led onshore
- The leading retail banks in the country generally compete in the
Singapore onshore market as well
- Competitor trends
- Significant competitor developments
- All wealth managers in Singapore have been scrambling to offer Chinese
yuan renminbi products
- Key competitors in Singapore wealth management
- Competitor profiles
- Citibank
- DBS
- OCBC/Bank of Singapore
- Standard Chartered
- UOB
APPENDIX
- Supplementary data
- Definitions
- High net worth (HNW)
- Liquid assets
- Mass affluent
- Measures of growth
- Onshore
- Methodology
- Overall methodology
- Global Wealth Model
- Global Wealth Managers Survey 2011
- Selected bibliography
- Further reading
- Ask the analyst
- Datamonitor consulting
- Disclaimer
TABLES
- Table: Singapore: macroeconomic indicators
- Table: Singapore: macroeconomic indicators
- Table: Number of mass affluent Singaporeans (000s), 2006 - 10
- Table: High net worth Singaporeans (000s), 2006 - 10
- Table: Mass affluent Singapore AUM ($bn), 2006 - 10
- Table: HNW Singapore AUM ($bn), 2006 - 10
- Table: Forecast number of mass affluent Singaporeans (000s), 2010 - 14f
- Table: Forecast number of HNW Singaporeans (000s), 2010 - 14f
- Table: Forecast mass affluent Singapore AUM ($bn), 2010 - 14f
- Table: Forecast HNW Singapore AUM ($bn), 2010 - 12f
- Table: Singapore AUM split by offshore and onshore (S$bn), 2006 - 10
- Table: Singapore population split by residency status (000s), 2000 - 10
- Table: Number of resident couple-based households in Singapore by monthly
income and age of head of household, 2010 (S$)
- Table: Licensed financial institutions engaging in wealth management in
Singapore, May 2011
- Table: Leading Singapore wealth managers' mass affluent and private bank
operations, 2011
- Table: Citibank Singapore wealth management figures, 2009 - 10
- Table: DBS wealth management figures, 2009 - 10
- Table: OCBC wealth management figures, 2009 - 10
- Table: Standard Chartered wealth management figures, 2009 - 10
- Table: UOB' s AUM and fee and commissions figures (S$bn) 2009 - 10
- Table: Selected stock exchange end-of-year market capitalization ($m),
2005 - 10
FIGURES
- Figure: The Singapore HNW market is made up primarily of the middle aged
- Figure: Singapore has a tiny economy in absolute terms but an outsized one
for a city state
- Figure: After contracting in 2009 as key trading partners went into
recession, Singapore recorded impressive growth in 2010
- Figure: The Monetary Authority of Singapore has been able to keep a lid on
inflation in the city state
- Figure: The deposit rate in Singapore currently offers little real return
on investments
- Figure: Average quarterly interest rates on Singapore government bonds
reflect the market' s confidence in its low inflation policies and solvency
- Figure: The aggregate value of investors' holdings in 2010 was below what
it was in 2007
- Figure: Singapore has an above average level of inequality
- Figure: The mass affluent population has seen significant growth in the
upper wealth bands
- Figure: Gains in HNW numbers in 2010 more than made up for the loss in 2009
- Figure: The largest block of wealth is in the hands of those with between
$150,000 and $300,000
- Figure: The assets held by millionaire Singaporeans have more than
recovered since the credit crunch
- Figure: Mass affluent numbers are soon expected to exceed 1 million
- Figure: Growth among those with $1.5 - 3 million in AUM is expected to be
strongest
- Figure: Total mass affluent AUM will rise by an average of 15.1% a year
for the next four years
- Figure: AUM of the wealthiest Singaporeans will top $120bn in 2014
- Figure: Offshore AUM dominate the Singapore market
- Figure: Asia Pacific clients account for the majority of offshore AUM
managed in Singapore
- Figure: Non-resident numbers have been growing at a faster rate than the
resident population
- Figure: The Singapore HNW market is made up primarily of the middle aged
- Figure: Wealthy earners are clustered in the 35 - 49 age bracket,
distorting the wealth market
- Figure: The market for wealth management is overwhelmingly male
- Figure: Households headed by women in Singapore form a minority of those
earning enough to amass significant levels of wealth
- Figure: Entrepreneurs and business owners make up a substantial proportion
of the Singapore market
- Figure: Wealth managers have struggled to switch HNWs away from cash
- Figure: Equities have been attractive to investors due to the rising
economies of the Asia Pacific region
- Figure: Rising share prices and regional economic growth will see equities
rise as a share of HNWs' assets under management (AUM)
- Figure: Singaporeans are comparatively well served in the asset management
sphere
- Figure: It will soon be routine for HNWs in Singapore to be offered
insurance and cash management services by their wealth managers
- Figure: Singapore is notable for having a preference for execution-only
asset management
- Figure: Demand for advisory asset management is predicted to rise towards
regional averages
- Figure: Few services are a significant draw for HNW Singaporeans
- Figure: Financial planning has an enduring appeal, making investments in
this area worthwhile
- Figure: Only in their greater openness to offshore investments do HNW
Singaporeans differ from the typical Asia Pacific client
- Figure: Singaporean HNWs need a strong working relationship with their
wealth manager
- Figure: Regular communication with clients is a key part of a wealth
manager' s customer care
- Figure: HNW Singaporeans are loyal to their manager rather than the
overarching brand
- Figure: Most wealth managers will only be responsible for 10% of a
client' s AUM
- Figure: Few client acquisition techniques compare to a proper referral
from an existing client
- Figure: Client events represent a marginal opportunity for wealth managers
to influence potential clients
- Figure: The main banking groups have a lock on the transactional banking
market
- Figure: Citigroup' s onshore and offshore operations cater to clients at
all wealth tiers
- Figure: Citibank' s new Citigold Private Client service still has a smaller
footprint than its private bank
- Figure: The new Citi blog seeks to engage Citi clients in the rebuilding
of the bank' s brand
- Figure: "Managing your wealth" positions Citibank as a responsible
corporate citizen
- Figure: Citi' s high-profile iPad and iPhone apps provide extra
connectivity for clients on the go
- Figure: DBS Treasures' branch network is focused on the near abroad, with
Hong Kong having the most branches
- Figure: The private banking operations of OCBC are still limited in terms
of geographic branch footprint
- Figure: Standard Chartered has two programs for the mass affluent market
- Figure: The regional footprint of Standard Chartered highlights the
importance of Singapore in terms of servicing surrounding countries
- Figure: Standard Chartered Private Bank has multiple methods for client
segmentation and targeting
- Figure: Standard Chartered' s custom magazine highlights its expertise in a
stylish format
- Figure: UOB Privilege Reserve clients will be able to show off their stats
with a new ultra-exclusive credit card
- Figure: UOB has private banking offices in three countries, in addition to
its network of Privilege Banking centers
- Figure: UOB has adopted the Visa Infinite card for its Privilege Banking
clients
- Figure: The Princess V62 yacht is available with crew from the One Degree
15 Marina Club in Sentosa Cove for the nautically inclined UOB Privilege
Reserve client
- Figure: Global Wealth Management Survey 2011, geographic coverage
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