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wealthy europeans cautious despite gains

The World Wealth Report 2013 estimates that the combined wealth of European high net worth individuals (HNWIs) – defined as those with investable assets of $1m (€750,000) or more – grew by almost $1trn during 2012, as the European HNWI population gained some 240,000 new members.

Much of the growth was driven by rising asset prices in the second half of the year, and HNWIs are upbeat on the prospects for further gains, according to a supplementary Global HNW Insights survey. Indeed, more than three-quarters are confident their wealth will rise over the next year.

Yet the asset allocations of wealthy individuals reflect a cautious approach, with global HNWIs on average holding more than 28% of their investable assets in cash, in the first quarter of 2013. Even HNWIs who identified growth as their key aim allocated 26% of their assets to cash and deposits.

A copy of the World Wealth Report 2013 can be downloaded in six languages, here.

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