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HNW Offshore Investment: Booking Center Preferences 2016

HNW Offshore Investment: Booking Center Preferences 2016

  • August 2016
  • 43 pages
  • ID: 4109368
  • Format: PDF
  • GlobalData

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HNW Offshore Investment: Booking Center Preferences 2016

Summary
Tax authorities worldwide have been cracking down on tax evaders, investors have reinvested their assets in their home countries. According to GlobalData’s Global Offshore Investments Analytics, the top 10 deposit booking centers have seen their non-resident deposit holdings decline, albeit only marginally, over the past five years.

2015 was a weak year for the global offshore market. However, there have been clear winners and losers as the dynamics of the offshore markets continue to shift. The recent focus of most Western governments on tackling offshore tax evasion has affected certain traditional offshore centers more heavily, while the so-called mid-shores that combine on- and offshore traits have experienced strong fund inflows in recent years. The key centers for HNW individuals are the US, Singapore, Switzerland, the UK, India, Luxembourg, and Hong Kong, followed by more "traditional" centers such as the Isle of Man and Malta.

Critical success factors
- Know your customer – The propensity to hold assets offshore varies greatly by country. HNW individuals in the UAE, Russia, and Hong Kong hold more of their portfolios offshore than their counterparts in the US and Germany, for example. Understanding where these offshore investor pockets lie is a good starting point for customer targeting.
- Not all offshore centers are equal – Understanding the USPs of each offshore center is key in determining their performance, future prospects, and the reasons why HNW investors will want to invest there. Centers such as the Bahamas and the Cayman Islands for example have traditionally promoted their low tax environments, whereas the success of the UK and the US has been due to their safe haven status.
- Transparency is critical – Since the 2008 global financial crisis the scrutiny of offshore holdings and tax avoidance has intensified. As such the need for transparency and co-operation is critical as investors are turning away from traditional offshore hubs to avoid being tainted by association.

The report “HNW Offshore Investment: Booking Center Preferences 2016” insights to how to best promote your offshore proposition, helps to understand HNW investors’ booking center preferences and how this is expected to change and Learn how different offshore centers have performed in recent years and adjust your offshore proposition accordingly.

Key Findings
- After a strong 2014, 2015 was a weak year for the offshore market. Non-resident liquid assets among the 10 largest booking centers for each asset class recorded a growth rate of 1.6% over 2014.
- However, performance varied significantly across the four asset classes. Offshore mutual fund holdings, for example, grew strongly, while growth in offshore deposits stagnated.
- Pressure exerted by Western governments is diminishing the importance of traditional offshore centers such as the Bahamas and the Cayman Islands.
- Mid-shore centers such as Singapore and Hong Kong are rapidly growing in prominence, particularly Hong Kong thanks to its status as a renminbi hub. Yet Singapore remains the booking center of choice among HNW investors in Asia.
- HNW individuals across the world hold on average 22.7% of their liquid wealth offshore.
- At a global level the US, Switzerland, Singapore, and the UK are the most important booking centers for HNW offshore wealth.

Synopsis
This report draws on our 2015 Global Wealth Managers Survey to analyze the performance of key booking centers over time. It has a particular focus on HNW individuals. In particular it examines the propensity to invest offshore and booking center preferences for 20 key markets.

Specifically the report will help you to -
- Understand which are the largest offshore centers and how this breaks down by asset class
- Compare the performance of the offshore centers and what is driving this performance
- Understand how much wealth HNW individuals hold offshore and how this varies by country
- Understand what the preferred centers for HNW offshore investments are and how this varies by country

Reasons To Buy
- Understand how to best promote your offshore proposition.
- Understand HNW investors' booking center preferences and how this is expected to change.
- Learn how different offshore centers have performed in recent years and adjust your offshore proposition accordingly.

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