Australia Wealth Report 2016

Australian HNWIs held 23.1% (US$227.6 billion) of their wealth outside their home country in 2015. Foreign asset holdings are expected to increase to US$297.6 billion by 2020, accounting for 21.9% of the country’s total HNWI assets.

North America accounted for 35.6% of Australian HNWIs’ foreign assets in 2015. This was followed by Europe with 22.7%, Africa with 21.3%, Asia-Pacific with 10%, Latin America with 8.1% and the Middle East with 2.4%.

The number of HNWIs who acquired their wealth through the financial services industry increased by 10.7%; the highest review-period growth of 11.5% was recorded in the tech and telecommunications sector. Financial services and investments and basic materials were the main source of wealth for local HNWIs in 2015, with respective shares of 14.1% and 12.8%.

The average age of HNWIs in Australia is 58. In total, 27.8% of Australian HNWIs were aged 61–70 in 2015.

Scope

• An independent market sizing of Australian HNWIs across five defined wealth bands

• Analysis of HNWI volume, wealth and allocation trends in Australia, from 2011 to 2015

• A detailed forecast of HNWI volume, wealth and allocation trends to 2020

• A breakdown of the asset allocations of HNWIs and UHNWIs in 13 asset classes

• A geographical breakdown of all foreign assets held by Australia’s HNWIs

• An alternative breakdown of liquid versus investable assets

• An assessment of the size of the Australian wealth management industry

• Detailed wealth management and family office information

• The number of HNWIs in major Australian cities

Key Highlights

How many HNWIs are there in Australia? How much wealth do they hold in US$ billion?

By what percentage did the Australian HNWI population grow in 2015? How does this compare to the increase in the previous year?

How is the Australian HNWI population forecast to grow by 2020? By what percentage is HNWI wealth projected to grow by 2020? What will be the total of wealth in US$ billion that this represents?

Reasons to buy

• Investigate a comprehensive analysis of the private banking and wealth management sector in Australia and ensure your value proposition is based on the most current market information

• Evaluate HNWI volumes in each major Australian city to better target your wealth prospects whilst ensuring the cost-efficiency of your operations

• Analyze the asset allocations of HNWIs and ultra-HNWIs, including projections of their volume, wealth and asset allocations to 2020. Identify those segments predicted to grow substantially over the forecast period and better align your product propositions accordingly

• Assess the five wealth bands detailed in the report to identify the preferences for wealth management services in each of these respective segments. Identify new growth opportunities whilst minimizing business risk

Companies mentioned

National Australia Bank, Commonwealth Bank, ANZ Private Bank, WestPac , Deutshe Bank, Credit Suisse, Macquarie Group, JBWere Pty Ltd and Hillross Financial Services.

Table of Contents

Table of Contents

1 Introduction

1.1 Details of this Report

1.2 Definitions

2 Executive Summary

3 Australia Key Facts

4 Distribution of Wealth in Australia

4.1 HNWI Volume and Wealth Trends

5 Findings from the WealthInsight HNWI Database

5.1 Trends in HNWI Wealth to 2020

5.1.1 HNWI trend analysis

5.1.2 Wealth band trends

5.1.3 Demographic breakdown of HNWIs

5.1.4 HNWIs – job titles

5.1.5 HNWIs – industry breakdown

5.1.6 HNWIs – industry performance

5.1.7 HNWIs – breakdown by city

5.1.8 HNWIs – city performance

5.1.9 HNWIs – city population densities

5.1.10 HNWIs – city forecasts

5.2 UHNWIs

5.2.1 UHNWI volume trend analysis

5.2.2 UHNWI wealth trend analysis

5.2.3 Demographic breakdown of UHNWIs

5.2.4 UHNWIs – industry breakdown

5.2.5 UHNWIs – city breakdown and performance

5.3 UHNWIs – Billionaires

5.3.1 Billionaire volume trend analysis

5.3.2 Billionaire wealth trend analysis

5.3.3 Billionaire per capita net worth trend analysis

5.3.4 List of billionaires

5.4 UHNWIs – Centimillionaires

5.4.1 Centimillionaire volume trend analysis

5.4.2 Centimillionaire wealth trend analysis

5.4.3 Centimillionaire per capita net worth trend analysis

5.5 UHNWIs – Affluent Millionaires

5.5.1 Affluent millionaire volume trend analysis

5.5.2 Affluent millionaire wealth trend analysis

5.5.3 Affluent millionaire per capita net worth trend analysis

5.6 Core HNWIs

5.6.1 Core HNWI volume trend analysis

5.7 Core HNWIs – Mid-Tier Millionaires

5.7.1 Mid-tier millionaire volume trend analysis

5.7.2 Mid-tier millionaire wealth trend analysis

5.7.3 Mid-tier millionaire per capita net worth trend analysis

5.8 Core HNWIs – Lower-Tier Millionaires

5.8.1 Lower-tier millionaire volume trend analysis

5.8.2 Lower-tier millionaire wealth trend analysis

5.8.3 Lower-tier millionaire per capita net worth trend analysis

6 Analysis of Australian HNWI Investments

6.1 Analysis by Asset Class

6.1.1 Trends in alternative assets

6.1.2 Trends in ‘art, wine and wheels’

6.1.3 Trends of investment in real estate

6.1.4 Trends of investment in cash and deposits

6.1.5 Trends of investment in fixed-income

6.1.6 Investment trends in equity

6.1.7 Investments trends in business interests

6.2 Analysis of Foreign Investments

6.2.1 Investments in Europe

6.2.2 Investments in North America (including the US, Mexico and the Caribbean)

6.2.3 Investments in Asia-Pacific

6.2.4 Investments in South America

6.2.5 Investments in the Middle East

6.2.6 Investments in Africa

6.3 Alternative Breakdown: Liquid vs Investable Assets

6.4 Analysis of Australian UHNWI Investments

7 Competitive Landscape

7.1 Domestic Private Banks

7.2 Foreign Private Banks

7.3 Wealth Managers

7.4 Family Offices

8 Key Drivers

8.1 AUD–US$ Exchange Rate

8.2 Real GDP Growth

8.3 Per Capita GDP

8.4 Domestic Market Capitalization

8.5 Commodity Index

8.6 Foreign Direct Investment (FDI) – Inflows and Outflows

8.7 Inflation

8.8 Interest Rate

8.9 Balance of Payments

8.10 Government Debt

8.11 Stock Market Performance

8.12 Wealth Breakdowns

9 About WealthInsight

List of Tables

Table 1: HNWI Wealth Band and Group Definitions

Table 2: Australian HNWIs – Volume Distribution (%), 2015

Table 3: Australian HNWIs – Wealth Distribution Wealth Pyramid (%), 2015

Table 4: Australian HNWIs – Industry Performance (%), 2011–2015

Table 5: Australian HNWIs – Cities, 2015

Table 6: Australian HNWIs – Growth in Top Cities (Thousand), 2011–2015

Table 7: Australian HNWIs – Population Density in Major Cities 2015

Table 8: Australian HNWIs – Populations in Top Cities (Thousand), 2011–2020

Table 9: Australian HNWIs – Growth Rates for Top Cities (%), 2011–2020

Table 10: Australian HNWIs – Sources of Wealth (%), 2015

Table 11: Australian UHNWIs – Gender Performance (%), 2011–2015

Table 12: Australian UHNWIs – Populations in Top Cities, 2011–2020

Table 13: Australian UHNWIs – Growth Rates for Top Cities (%), 2011–2020

Table 14: Australian Billionaires – Market Overview (Volume and US$ Billions) 2011–2020

Table 15: Australian Top Billionaires (US$ Billion), 2015

Table 16: Australian Billionaires – Wealth Growth (US$ Billion), 2011−2015

Table 17: Australian Centimillionaires – Market Overview (Volume and US$ Million/Billion), 2011–2020

Table 18: Australian Affluent Millionaires – Market Overview (Volume and US$ Million/Billion), 2011–2020

Table 19: Australian Mid-Tier Millionaires – Market Overview (Volume and US$ Million/Billion), 2011–2020

Table 20: Australian Lower-Tier Millionaires – Market Overview (Volume and US$ Million/Billion), 2011–2020

Table 21: Australian HNWIs – Assets Allocations (%), 2011–2020

Table 22: Australian HNWIs – Holdings Growth (%), 2011–2020

Table 23: Australian HNWIs – Alternative Asset Composition (%), 2011–2020

Table 24: Australian HNWIs – Trends of Investments in Alternative Assets (%), 2011–2020

Table 25: Australian Trends in ‘Art, Wine and Wheels’, 2011–2015

Table 26: Global Prime Real Estate Prices per m2 (US$), 2015

Table 27: Australian HNWIs – Foreign Investment Allocations (%), 2011–2020

Table 28: Australian HNWIs – Liquidity Breakdown (US$ Billion), 2011–2020

Table 29: Australian HNWIs – Liquidity Breakdown (%), 2011–2020

Table 30: Australian UHNWIs – Allocations and Share of HNWI Assets (%), 2015

Table 31: Australian Exchange Rate – AUD–US$ Exchange Rate, 2011–2020

Table 32: Australian Real GDP Growth (%), 2011–2020

Table 33: Australian GDP per Capita (US$), 2011–2020

Table 34: Australian Domestic Market Capitalization (US$ Billion), 2011–2015

Table 35: Australian Commodity Indices, 2011–2020

Table 36: Australian Foreign Direct Investment (US$ Billion), 2011–2020

Table 37: Australian Inflation Rate (%), 2011–2020

Table 38: Australian Money Market Rate (%), 2011–2020

Table 39: Australian Balance of Payments (US$ Billion), 2011–2015

Table 40: Australian Government Debt as a Percentage of GDP (%), 2011–2020

Table 41: Australian Stock Market Performance (Index), 2011–2015

Table 42: Australian HNWI Wealth vs. GDP Ratio (%), 2011–2020

Table 43: Australia – Appendix One

Table 44: Australia – Appendix Two

List of Figures

Figure 1: HNWI Wealth Band Definitions

Figure 2: Map of Australia

Figure 3: Australian Asset Price Performance (%), 2011–2015

Figure 4: Australian HNWI Performance (US$ Billion and HNWI Volume), 2011–2020

Figure 5: Australian vs Global HNWIs (%), 2011–2015

Figure 6: Australian HNWIs – Growth Factor Correlation, 2011–2015

Figure 7: Australian HNWIs – Wealth Pyramid (Volume Distribution), 2015

Figure 8: Australian HNWIs – Wealth Pyramid (Wealth Distribution), 2015

Figure 9: Australian HNWIs – Age Distribution (%), 2015

Figure 10: Australian HNWIs – Job Titles (%), 2011–2015

Figure 11: Australian HNWIs – Distribution by Industry (%), 2015

Figure 12: Australian HNWIs – City Performance (%), 2011–2015

Figure 13: Australian HNWIs – Volume of HNWIs by City (Thousand), 2011–2015

Figure 14: Australian HNWIs – City Forecasts (%), 2016–2020

Figure 15: Australian HNWIs – Population by City (Thousand), 2016–2020

Figure 16: Australian UHNWIs – Wealth Share vs Volume Growth (%), 2011–2015

Figure 17: Australian UHNWIs – Volume by Wealth Band 2011–2020

Figure 18: Australian UHNWIs – Wealth by Wealth Band (US$ Billion), 2011–2020

Figure 19: Australian UHNWIs – Age Distribution (Percentage Share), 2015

Figure 20: Australian UHNWIs – Distribution by Industry (%), 2015

Figure 21: Australian Billionaires – Market Overview (Volume and US$ Billion), 2011–2020

Figure 22: Australian Centimillionaires – Market Overview (Volume and US$ Million/Billion), 2011–2020

Figure 23: Australian Affluent Millionaires – Market Overview (Volume and US$ Million/Billion), 2011–2020

Figure 24: Australian Mid-Tier Millionaires – Market Overview (Volume and US$ Million/Billion), 2011–2020

Figure 25: Australian Lower-Tier Millionaires – Market Overview (Volume and US$ Million/Billion), 2011–2020

Figure 26: Australian HNWs – Asset Class Composition (%), 2011–2020

Figure 27: Australian HNWIs – Trends in Alternative Assets (US$ Billion), 2011–2020

Figure 28: Australian Trends in ‘Art, Wine and Wheels’, 2011–2015

Figure 29: Australian HNWIs – Foreign Investment Allocation and Growth (%), 2015

Figure 30: Australian HNWIs – Global Distribution of Foreign Investments (%), 2011–2020

Figure 31: Australian HNWIs – Liquidity Breakdown (%), 2011–2020

Figure 32: Australian UHNWIs – Asset Class Composition (%), 2011–2020

Figure 33: Australian Exchange Rate – AUD–US$, 2011–2020

Figure 34: Australian Real GDP Growth (%), 2011–2020

Figure 35: Australian GDP per Capita (US$), 2011–2020

Figure 36: Australian Domestic Market Capitalization (US$ Billion), 2011–2015

Figure 37: Australian Commodity Indices, 2011–2020

Figure 38: Australian Foreign Direct Investment (US$ Billion), 2011–2020

Figure 39: Australian Inflation Rate (%), 2011–2020

Figure 40: Australian Money Market Rate (%), 2011–2020

Figure 41: Australian Balance of Payments (US$ Billion), 2011–2015

Figure 42: Australian Government Debt as a Percentage of GDP (%), 2011–2020

Figure 43: Australian Stock Market Performance (Index), 2011–2015

Figure 44: Australian HNWI Wealth vs GDP Ratio (%), 2011–2020

Figure 45: Australian HNWIs – Volume by Wealth Band, 2011–2020

Figure 46: Australian HNWIs – Wealth by Wealth Band (US$ Billion), 2011–2020

Figure 47: Australian HNWIs – Wealth per Capita (US$ Million), 2011–2020

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