Asia Centric: Private Wealth Boom Defies China’s Capital Curbs
Asia’s private wealth industry continues to flourish. A Bloomberg Intelligence survey of 100 senior private bankers reveals widespread optimism for double-digit net new money growth, supported by mainland investors seeking...
By Clara Chen · Bloomberg
Asia’s private wealth industry continues to flourish. A Bloomberg Intelligence survey of 100 senior private bankers reveals widespread optimism for double-digit net new money growth, supported by mainland investors seeking diversification and emerging wealth from Southeast Asia and the Middle East. This comes despite new regulatory headwinds from Beijing, including tighter capital outflows and taxes on offshore trusts and insurance policies, which most surveyed expected will have only a mild imp