TLDR:
– The study surveyed HNW individuals in Hong Kong and Singapore, revealing differences in how they access private market assets and hedge funds.
– Hong Kong investors are more likely to use digital platforms, while Singapore investors are more likely to use private bank relationship managers.
In a recent survey conducted by Endowus Private Wealth, a study of 492 high net worth individuals in Hong Kong and Singapore uncovered differences in how they choose to gain access to private market assets and hedge funds. The study found that digital investment platforms are the preferred mode of access for private market investing in both Singapore and Hong Kong, with a higher percentage of Hong Kong investors utilizing digital platforms.
Investors in Singapore are slightly more likely to tap into private markets via private bank relationship managers, while those in Hong Kong prioritize portfolio diversification and succession planning. The study also revealed that better investment returns are the top priority for Singapore investors, while Hong Kong investors are more concerned with diversification and succession planning.
Overall, both Singapore and Hong Kong investors are optimistic about the 2024 economic outlook, with Singapore investors demonstrating a higher risk appetite to grow their capital. The study suggests a trend towards self-directed investing in Singapore, with a majority managing their investment portfolios on their own, contrasting with Hong Kong investors who rely more on relationship managers or financial advisors.
Endowus, a digital wealth management platform, has raised $95 million in funding from various investors, including UBS Next, Citi Ventures, and large Asian family offices. The shift towards digital platforms reflects a growing trend of increased sophistication and self-directedness among high net worth individuals in Singapore.
