Singapore’s domestic and overseas wealth pool has expanded steadily over the past year, with average assets among the country’s high-net-worth clients rising 6% to $1.5 million, a white paper prepared by Citi Wealth and independent research firm RFI Global showed on Thursday.
Assets among Singapore’s affluent clients increased 5% to more than $565,000, according to the study, aimed at exploring how Singapore compares with other global wealth markets
- The study found that mutual fund ownership among Singapore’s high-net-worth investors has nearly tripled from 11% in 2022 to 31% in 2026, the highest adoption level in Asia, outpacing countries like India and South Korea
- However, a large portion of portfolios remain held in cash, with 72% of onshore affluent assets and 74% of offshore booked assets concentrated in cash and liquid deposits
- The findings were similar across other Asia hubs, reflecting investors’ continued preference for liquidity
- The study found Singapore leading in intergenerational wealth preparedness, with 76% of individuals aged 55 and above having established wills or wealth succession plans
Source: Reuters