Wealth managers target Indians living abroad
Strategies such as joint ventures between Indian firms and international managers are being pursued to capture a significant portion of this niche market.
Wealth management firms are taking note of the 6.2 million non-resident Indians (NRIs) and their estimated $500 billion of investable assets, according to a recent report from London-based market research firm Datamonitor.Datamonitor defines NRIs as people who were born in India and are now reside abroad. The largest concentrations of NRIs live in the US, the UK, Canada and Australia. Singapore, Hong Kong, Qatar and Bahrain are also emerging as new wealth hotspots.Both international a…
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