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市場調查報告書

英國的資產市場:規模的檢測與市場機會

Wealth in the UK: Sizing the Market Opportunity; Sizing the wealth market in the UK and its growth potential.

出版商 Verdict Financial 商品編碼 354449
出版日期 內容資訊 英文 54 Pages
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英國的資產市場:規模的檢測與市場機會 Wealth in the UK: Sizing the Market Opportunity; Sizing the wealth market in the UK and its growth potential.
出版日期: 2016年03月17日 內容資訊: 英文 54 Pages
簡介

本報告以英國的資產及零售儲蓄 (零售儲蓄) ·投資市場上之高淨值投資者(HNW) (富裕階級) 市場區隔為焦點加以分析,提供您富裕階級市場規模的檢測,英國的投資者偏好的資產類別分析及其偏好對儲蓄·投資市場成長帶來的影響,並彙整非流體投資的高淨值投資者(HNW)客戶之態度分析等相關資料。

摘要整理

英國資產市場上規模的檢測與預測

  • 英國主要是境內市場,但也有重要的海外商務
  • 境內市場的成長由高淨值投資者(HNW) (富裕階級) 市場部門所促進

英國的資產市場的促進因素

  • 零售儲蓄·投資的成長率鈍化,但未來仍維持Plus
  • 零售存款 (小額存款) 超過GDP·平均名目工資
  • 零售債權投資雖然僅佔英國零售儲蓄的極小部分,但由於低通貨膨脹成長促進
  • 未來股票價格實際成果的不確定性在抑制股票持有的同時,更促使投資信託取代股票持有

高淨值投資者(HNW) (富裕階級) 的投資趨勢

  • 英國的高淨值投資者(HNW)有強烈的傾向喜歡有流體的投資
  • 加上境內的組合,23.5%英國的高淨值投資者(HNW)海外持有資產

附錄

圖表

目錄
Product Code: VF0011CI

Summary

The UK savings and investments market is dominated by deposits, which account for more than half of all liquid assets in the country. However, the growth of the market is fueled mainly by mutual funds, which have performed well even in times of capital market unsteadiness. Mutual funds have consequently attracted a constant flow of new money. Thanks to this, UK liquid assets have been growing since the end of the financial crisis, although a slowdown in recent years has been apparent

Key Findings

  • Affluent individuals represent just over a quarter of the UK population but hold 91.7% of the UK's liquid assets.
  • UK wealth is concentrated mainly in London and the South East, but other regions should grow faster in the near future.
  • 52.2% of UK savings are held in deposits (most of it in instant access accounts), but the solid performance of mutual funds has been attracting inflows to this asset class.
  • Despite holding 12.1% of their investment portfolios in commodities, property, and alternatives, the UK's wealthiest individuals show a strong preference towards liquid products.
  • Tax efficiency remains the main driver for high net worth (HNW) individuals opting to offshore wealth.

Synopsis

Wealth in the UK: Sizing the Market Opportunity analyzes the UK's wealth and retail savings and investments markets, with a focus on the HNW segment. The report is based on our proprietary datasets.Specifically, the report:

  • Sizes the affluent market (both by the number of individuals and the value of their liquid assets) using Verdict Financial's proprietary datasets.
  • Analyzes which asset classes are favoured by UK investors and how their preferences impact the growth of the total savings and investments market.
  • Examines HNW clients' attitudes towards non-liquid investments, such as property and commodities.
  • Identifies key drivers and booking centers for offshore investments.

Reasons To Buy

  • Benchmark your share of the UK wealth market against the current market size.
  • Forecast your future growth prospects using our projections for the market to 2019.
  • Identify your most promising client segment by analyzing the penetration of affluent individuals in the UK - both at the country and regional level.
  • Evaluate your HNW proposition by understanding how the ever-changing UK tax system affects your HNW clients.
  • Review your offshore strategy by learning about the HNW motivations for offshore investments and their preferred booking centers.

Table of Contents

EXECUTIVE SUMMARY

  • Growth in the UK wealth market will be moderate
  • Key findings
  • Critical success factors

SIZING AND FORECASTING THE UK WEALTH MARKET

  • The UK is primarily an onshore market, but has a notable offshore business
  • Growth in the onshore market is driven by the HNW segment
    • The UK affluent market remains the fourth largest in the world
    • Affluent individuals represent 27.7% of the adult population
    • The affluent population holds 91.7% of retail liquid assets, with the wealthiest set to record the strongest growth
    • The UK's onshore wealth is concentrated in London and the South East

DRIVERS FOR GROWTH IN THE UK WEALTH MARKET

  • Retail savings and investments growth is slowing but will remain positive in the future
    • The total value of savings and investments in the UK will exceed £2.5tn in 2017
    • Allocations in mutual funds have been increasing
    • Direct equity holdings will continue to decrease
  • Retail deposits have outperformed GDP and average nominal wages
    • Net inflows have been the primary driver for standard deposit growth
  • Retail bond investments account for only a fraction of UK retail savings, but growth is being aided by low inflation
  • Uncertainty regarding future stock market performance is restraining equity holdings but has a positive impact on mutual funds
    • The FTSE 100 is now struggling with growth after posting a new record level
    • The performance of the stock market has had a direct impact on equities, while mutual funds are an alternative to stock holdings
    • Mutual funds are relatively well diversified, which shields performance from the vagaries of the stock market

HNW INVESTMENT PREFERENCES

  • UK HNW individuals show a strong preference for liquid investments
    • The wealthiest UK individuals are once again turning their attention to hedge funds
    • UK HNW investors have switched from direct property to funds
  • In addition to their onshore portfolios, UK HNW individuals hold 23.5% of their wealth offshore
    • Tax efficiency remains the number one motivation for offshore investment
    • The Isle of Man is a primary booking center for UK HNW offshore wealth

APPENDIX

  • Abbreviations and acronyms
  • Supplementary data
  • Definitions
    • Affluent
    • Domicile
    • DTA
    • FATCA
    • HNW
    • Liquid assets
    • Mass affluent
    • Net inflows
    • Onshore
    • Performance/interest growth
    • Residency
    • TIEAs
  • Methodology
    • Verdict Financial's 2015 Global Wealth Managers Survey
    • Global Wealth Model methodology
    • UK Retail Savings and Investments Methodology
    • Exchange rates
  • Bibliography
  • Further reading
  • About Verdict Financial
  • Disclaimer

List of Tables

  • Table 1: UK income tax rates
  • Table 2: Tax on dividend rates
  • Table 3: Capital gains tax rates (%), 2015-16 and 2016-17
  • Table 4: Stamp Duty Land Tax rates (%), 2016
  • Table 5: Land and buildings transaction tax rates in Scotland (%), 2016
  • Table 6: Annual tax on enveloped dwellings rates (%), 2015-16
  • Table 7: Total retail resident and non-resident deposits (£bn), 2006-15
  • Table 8: Total retail resident and non-resident deposits($bn), 2006-15
  • Table 9: Total UK adult population by pound sterling asset bands (000s), 2009-15
  • Table 10: Forecast total UK adult population by pound sterling asset bands (000s), 2016f-19f
  • Table 11: Total UK adult population by US dollar asset bands (000s), 2009-15
  • Table 12: Forecast total UK adult population by US dollar asset band (000s), 2016f-19f
  • Table 13: Total UK onshore liquid wealth by asset band (£bn), 2009-15
  • Table 14: Forecast total UK onshore liquid wealth by asset band (£bn), 2016f-19f
  • Table 15: Total UK onshore liquid wealth by asset band ($bn), 2009-15
  • Table 16: Forecast total UK onshore liquid wealth by asset band ($bn), 2016f-19f
  • Table 17: Total UK onshore liquid assets by region and affluent segment (£bn), 2015
  • Table 18: UK retail savings and investments by asset class ($m), 2009-15
  • Table 19: Forecast UK retail savings and investments by asset class ($m), 2016f-19f
  • Table 20: Net inflows and interest performance of UK retail deposits excluding cash ISAs (£m), 2007-15
  • Table 21: Net inflows and performance gains of UK retail equities (£m), 2007-15
  • Table 22: Net inflows and performance gains of UK mutual funds (unit trusts, OEICs, and investment trusts) (£m), 2007-15
  • Table 23: Pound sterling-US dollar exchange rate, December 31, 2014 and December 31, 2015

List of Figures

  • Figure 1: Non-resident deposits accounted for 43.2% of the total deposit market in the UK in 2015
  • Figure 2: HNW individuals account for 0.66% of the UK adult population
  • Figure 3: The affluent population hold 91.7% of retail liquid assets in the UK
  • Figure 4: London and the South East account for almost a third of onshore liquid assets in the UK
  • Figure 5: UK savings and investments will grow only slightly in 2016
  • Figure 6: Deposits account for half of the UK retail savings and investments market
  • Figure 7: Equities will show negative growth through to 2019
  • Figure 8: Retail deposits have shown strong growth, outperforming GDP
  • Figure 9: Since 2012 growth in deposits has been supported by strong inflows
  • Figure 10: 2014 saw extraordinary growth in retail bond investments
  • Figure 11: The oil and gas industry is one of the top three industries represented in the FTSE 100 index
  • Figure 12: Retail mutual fund and equity investments correlate strongly with the performance of the UK stock market
  • Figure 13: Stock market volatility has had a negative effect on direct retail equity investments
  • Figure 14: UK mutual funds have been continuously attracting new money
  • Figure 15: Mutual funds in the UK are predominantly invested in equities
  • Figure 16: Outside traditional assets, property funds and hedge funds are the most notable components of UK HNW portfolios
  • Figure 17: UK HNW individuals hold 23.5% of their portfolios offshore
  • Figure 18: Tax is the key driver of offshore investment among UK HNW individuals
  • Figure 19: The Isle of Man hosts more than a quarter of UK HNW offshore wealth
  • Figure 20: The UK has DTAs and TIEAs with a number of global offshore centers
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