捷克資產管理市場：2009年

Abstract

Introduction

The wealth management market in the Czech Republic is becoming much more competitive, spurred on by the growth of domestic providers. Czech high net worths, however, remain unsophisticated and staunchly conservative when it comes to investments. To succeed in the country, wealth managers need to know what this lucrative customer wants from them, in terms of products, services and interactions.

Scope of this research

• Sizes, segments and forecasts the number of affluent invididuals across 10 liquid asset bands from EUR50k
• Primary research among domestic wealth managers provides insight into HNWs and the private banking market
• Utilizes Datamonitor' s proprietary Wealth Management Opportunity Index to score the attractiveness of the market

Research and analysis highlights

The Czech Republic' s economic performance has served as a catalyst for much new wealth creation. Datamonitor' s figures show that the number of Czech affluents actually grew in 2008 thanks to prudent savings habits among investors and a preference for more conservative investment products. This growth should continue into 2009.

Czech HNWs are unsophisticated and very conservative when it comes to their wealth, often making decisions based on emotions rather than logic. Wealth managers need to cater for this by offering them: friendly, personal service; low risk, understandable products; and customized education in investment matters.

The competitive landscape of the Czech wealth management market is in flux after the recent damage to the standing of the international wealth managers. Strategically, domestic players need to exploit this window of opportunity, while international players need to reach out to the country' s wealthy population and rebuild trust.

Key reasons to purchase this research

• Understand the Czech HNWs' attitudes and investment behaviour, and reasons for choosing/leaving their wealth service.
• Gain insight into the competitive characteristics of the Czech wealth management market, and learn the factors for success.
• See how the Czech wealth management market scores against Datamonitor' s Opportunity Index.

Table of Contents

OVERVIEW

• Catalyst
• Summary
• Methodology

EXECUTIVE SUMMARY

• Conservative attitudes to saving and investing have served Czech investors well recently
• HNWs are unsophisticated on investment matters and very conservative
• The Czech Republic has become much more competitive for wealth managers

THE CZECH REPUBLIC' S WEALTH

• Strong economic performance has provided an excellent nursery for new wealth in the Czech Republic
  • The Prague stock market has experienced years of strong price appreciation
  • Higher interest and money market rates have helped Czech investors in the last couple of years
• Czech investors have been playing it extra safe during the current crisis
  • Czechs have been strong buyers of long-term government debt
• The conservative habits of Czech investors have served them very well of late
  • The number of affluents in the country climbed by 2% in 2008 despite the asset price implosions

THE CZECH REPUBLIC' S WEALTH MANAGEMENT MARKET

• The Czech wealth management market is developing fast and providers need to focus on constantly improving their offering
• The Wealth Management Opportunity Index
  • Wealth management market features
  • Wealth management client characteristics

APPENDIX

• Datamonitor' s Wealth Management Opportunity Index
  • There are five key parameters when assessing a market for its wealth management potential
  • There are 18 components to the five key parameters of the wealth management opportunity index
• Definitions
• The drivers of growth in the wealthy population
  • Income growth (combined with inflation, changes in GDP by sector, household savings rates and debt levels)
  • Investment returns (market capitalization, interest rates and bond yields)
• The following measures are not, in themselves, drivers of wealthy population growth
  • Market capitalization
  • GDP
• The following measures are not drivers of wealthy population growth except under very restricted circumstances
  • Primary residence value growth
  • Inheritance
• Methodology
  • Global Wealth Model
• Bibliography
• Further reading
• Ask the analyst
• Datamonitor consulting
• Disclaimer

TABLES

• Table: Value of onshore liquid assets in the Czech Republic in euro bands (€ bn)
• Table: Forecast value of onshore liquid assets in the Czech Republic in euro bands (€ bn)
• Table: Number of individuals in the Czech Republic in euro bands (000s)
• Table: Forecast number of individuals in the Czech Republic in euro bands (000s)
• Table: Wealth Management Opportunity Index - Czech Republic
• Table: Wealth Management Opportunity Index with values - Czech Republic
• Table: Banks in the Czech Republic, and their respective ownership
• Table: Total assets held by different banking segments in the Czech Republic, 2004 - 2008

FIGURES

• Figure: The labor market benefited strongly from a growing economy
• Figure: The Prague Stock Exchange has not fallen as hard as others in Eastern Europe
• Figure: Higher interest rates have helped the country' s savers
• Figure: Households have increasingly been moving into government securities
• Figure: Currency and deposit dominate onshore liquid assets