Wealthy learn harsh lesson in Hong Kong
The city’s high-net-worth population is still well behind its 2007 peak asset level despite having rebounded, according to the Asia-Pacific Wealth Report 2010, which underpins some key trends and offers allocation forecasts.
The global financial crisis rammed home the importance of risk allocation and the dangers of leverage to investors the world over. In Asia-Pacific, the lessons were perhaps harshest in Hong Kong.
Despite recording the world’s fastest rebound in terms of high-net-worth population and wealth levels last year, Hong Kong stands out in the region for being furthest behind its peak 2007 asset level.
The city saw the number of high-net-worth individuals (HNWIs) with at least $1 million in fi…
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