INSUBCONTINENT EXCLUSIVE:
Owning to the decent performance of the domestic stock market in FY18, equity emerged as one of the preferred asset classes among super rich
On the other hand, the traditional bank deposits grew at much lesser single-digit rate during the previous financial year, according Karvy
Private Wealth Report 2018.
The report added that individual wealth in direct equity zoomed 30.32 per cent to massive a Rs 48.97 crore in
FY18, making the most preferred asset for holding individual wealth, overtaking fixed deposit and bonds which ended at Rs 42.09 lakh crore
Insurance, however, maintained its third rank, holding Rs 33.36 lakh crore of individual wealth
We foresee that the coming five to seven years will be the time for equity as an asset class and investors can possibly treble their wealth
growth of 10.91 per cent in FY17
Individual wealth in mutual fund grew by a whopping 34.50 per cent during the year
investment in financial assets is on the rise and has increased to 60.22 per cent YoY and the proportion of physical asset has come down to
39.78 per cent in FY18 from 48 per cent in FY17
Private Wealth said in a report.
Investment in unlisted equity grew by 36.83 per cent in FY18
