Non-resident Indian wealthy setting up more family offices

The South Asian high-net-worth diaspora has always represented a substantial pool of capital, with Deutsche Bank Private Wealth Management (PWM) putting the liquid wealth of the group -- excluding ownership of property and businesses -- at $50 billion to $70 billion. Estimates vary, but the diaspora -- which mostly comprises non-resident Indians (NRIs) -- is credited with as much as $400 billion in output, of which some $50 billion is remitted annually back to South Asia. And it is g…