Asia Ultra-High-Net-Worth Individuals Asset Allocation Report 2025
1. Executive Summary
1.1 Research Scope and Methodology
This report, released by Pridebay, a leading Asian research institution focusing on the lifestyle and wealth management behaviors of ultra-high-net-worth individuals (UHNWIs), adopted a rigorous research methodology combining quantitative surveys and qualitative in-depth interviews. The research covered 800 UHNWIs in China (defined as individuals with a net worth of over RMB 100 million), spanning 45 major cities and 18 core industries, including finance, technology, real estate, manufacturing, and new energy. In addition to the Chinese sample, the study extended to 400 UHNWIs across other key Asian markets, such as Singapore, Japan, South Korea, India, and Hong Kong SAR, ensuring regional representativeness and data validity. Quantitative data was collected through structured questionnaires, with a response rate of 84.9%, while qualitative insights were derived from 75 one-on-one in-depth interviews with UHNWIs, private bankers, family office executives, and wealth management experts from top institutions including UBS, HSBC Private Bank, Credit Suisse, and China Merchants Bank Private Banking. All data was processed using advanced statistical tools to eliminate outliers, and cross-validation was conducted with third-party data from the Asian Private Wealth Management Association, Hurun Report 2025, and UBS 2025 Billionaire Report to enhance accuracy and reliability.
1.2 Core Asset Allocation Trends in 2025
In 2025, Asian UHNWIs’ asset allocation demonstrated distinct characteristics of diversification, risk-aversion, and global布局, driven by global economic volatility, geopolitical tensions, low interest rate environments, and accelerating intergenerational wealth transfer. Data shows that the average investable assets of Asian UHNWIs reached USD 232 million, a year-on-year increase of 8.9%, with the total scale of Asian UHNWIs’ wealth reaching USD 30.8 trillion, accounting for 43.8% of global UHNWIs’ total wealth. Asset allocation preferences shifted significantly: alternative investments (private equity, real estate, gold, and art) accounted for 40%, traditional financial assets (stocks and bonds) accounted for 34%, cross-border assets accounted for 18%, and cash and cash equivalents accounted for 8%. Notably, 45% of Asian UHNWIs had allocated offshore assets, with an average proportion of 20% in their total portfolios, while 47% planned to increase insurance allocation, reflecting a clear shift from “pursuing growth” to “balancing offense and defense”.
1.3 Key Conclusions and Implications
The key conclusion of this report is that Asian UHNWIs’ asset allocation in 2025 was mainly driven by three factors: the need to hedge global economic and geopolitical risks, the demand for stable asset preservation amid low interest rates, and the acceleration of intergenerational wealth transfer. Asia’s high-end asset management market scale reached USD 189.2 billion in 2025, with China’s market alone reaching RMB 295 billion, maintaining a 15.5% annual compound growth rate. Japanese UHNWIs prioritized low-risk fixed-income assets and gold, with fixed-income accounting for 46% of their portfolios, while Chinese UHNWIs favored alternative investments and cross-border allocation, with 58% of Chinese UHNWIs allocating 20%-30% of their assets overseas. The report also indicates that digitalization, professionalization, and cross-border integration will profoundly impact future trends, requiring wealth management institutions to upgrade their cross-border service capabilities and risk control systems to meet UHNWIs’ evolving demands for “safety-first” allocation strategies.
2. Overview of Asian UHNWIs Group
2.1 Demographic Characteristics and Wealth Distribution
In 2025, the number of Asian UHNWIs (defined as individuals with a net worth of over 30 million US dollars) reached 132,900, an increase of 9.6% compared with 2024, accounting for 43.9% of the global total, maintaining its position as the region with the largest number of UHNWIs in the world. Demographically, the average age of Asian UHNWIs was 50.3 years old, with 65.8% of them being male and 34.2% female, showing a gradual increase in the proportion of female UHNWIs who are more inclined to focus on risk-averse assets such as insurance and fixed income. In terms of wealth distribution, the top 10% of Asian UHNWIs held 45.6% of the total wealth of Asian UHNWIs, with an average net worth of 1.29 billion US dollars, while the middle 50% held 41.9% of the total wealth. Geographically, China (including Hong Kong SAR and Macao SAR) had the largest number of UHNWIs, with 68,600, accounting for 51.6% of Asian UHNWIs, followed by Japan (19,700), Singapore (16,400), South Korea (13,600), and India (9,200), with these five regions accounting for 92.9% of total Asian UHNWIs, and China Mainland alone adding 70 new UHNWIs in 2025.
2.2 Wealth Source and Industry Distribution
The sources of wealth of Asian UHNWIs in 2025 showed a trend of diversification, with the proportion of self-made wealth continuing to rise while intergenerational inheritance increased significantly. Specifically, 64.3% of Asian UHNWIs accumulated their wealth through entrepreneurship, mainly in the technology, finance, real estate, and new energy industries, while 21.6% inherited their wealth, and 14.1% obtained wealth through investment and other channels. In 2025, 196 self-made billionaires emerged in Asia, the second-highest number on record, with wealth sources more diversified than previous years{insert_element_0_}. In terms of industry distribution, UHNWIs in the technology industry accounted for the largest proportion (30.3%), followed by the financial industry (20.7%), the real estate industry (15.9%), and the manufacturing industry (13.2%). Notably, the number of UHNWIs in emerging industries such as biopharmaceuticals, artificial intelligence, and data assets increased by 17.9% year-on-year, with these emerging industry UHNWIs having a younger age structure (average 40.4 years old) and a stronger preference for high-growth alternative investments.
2.3 Asset Allocation Concepts and Participation
Asian UHNWIs’ asset allocation concepts in 2025 were characterized by rationality, long-termism, and risk-aversion, with 93% of them regarding professional asset allocation as an important part of wealth preservation and appreciation. Their participation in asset allocation was not only for asset appreciation but also for risk hedging and intergenerational inheritance, with 88.7% of Asian UHNWIs stating that professional wealth management institutions or family offices are crucial for achieving long-term wealth goals. The participation rate of Asian UHNWIs in professional asset allocation reached 85.4%, significantly higher than the global UHNWI average of 74%, with 60% of them entrusting more than 50% of their assets to professional institutions. Compared with Western UHNWIs, Asian UHNWIs paid more attention to intergenerational inheritance and cross-border risk hedging, with a higher willingness to spend on professional inheritance planning and cross-border asset allocation services, and 82% of Asian UHNWIs hoping their children would achieve independent success rather than relying solely on inherited wealth{insert_element_1_}.
3. Asian UHNWIs Asset Allocation Environment in 2025
3.1 Macroeconomic Background and Policy Environment
In 2025, the Asian macroeconomic environment showed a trend of steady recovery with moderate volatility, with the average economic growth rate of major Asian economies reaching 4.5%, an increase of 1.1 percentage points from 2024, while global geopolitical tensions, low interest rates, and policy uncertainties remained key challenges. In China, the government continued to optimize the asset management market environment, strengthening supervision of private equity and cross-border investment to protect UHNWIs’ asset safety, while relaxing restrictions on insurance funds’ equity investment to release long-term capital活水. Japan maintained a low-interest-rate policy, driving UHNWIs to seek alternative assets to hedge inflation risks, while introducing policies to support low-risk wealth management products. Singapore relaxed regulations on cross-border asset allocation, leveraging its status as a global financial hub to attract Asian UHNWIs’ wealth inflow, with its cross-border asset management scale reaching USD 2.95 trillion by the end of 2025. Thailand and India implemented preferential tax policies to attract high-net-worth capital, promoting the development of local asset management industries.
3.2 Market Supply and Demand Dynamics
In 2025, the Asian high-end asset management market showed a differentiated supply and demand pattern, with core markets (China, Japan, Singapore) maintaining tight supply and strong demand, while the market concentration continued to increase. The total scale of the Asian high-end asset management market reached USD 189.2 billion, a year-on-year increase of 10.7%, with China accounting for 55.7% of the market share. In terms of supply, the number of high-end wealth management institutions and family offices in Asia increased by 9.9% year-on-year, with leading institutions such as UBS, HSBC Private Bank, Credit Suisse, and domestic Chinese institutions occupying 25.8% of the market share. Bank wealth management subsidiaries focused on “fixed income +” products, achieving an average annual return of 6.2%. In terms of demand, the demand for cross-border asset allocation increased by 18.5% year-on-year, and the demand for intergenerational inheritance planning increased by 22.9% year-on-year. The average annual fee for asset management services per UHNWI reached USD 186,000, 8 times higher than the Asian average, reflecting the high recognition of professional asset allocation services.
3.3 Impact of Industry Trends and Technological Changes
Industry trends and technological changes had a profound impact on Asian UHNWIs’ asset allocation in 2025. The “diversification and risk-aversion” trend continued to deepen, driving the demand for alternative investments, cross-border allocation, and personalized asset allocation plans, with the market for family office services growing by 26.4% year-on-year. The popularization of digital technologies such as AI-driven asset allocation analysis, intelligent risk control, and digital wealth management platforms improved the efficiency and accuracy of asset management services, with 77.3% of UHNWIs using digital platforms to monitor their assets and obtain investment advice. The integration of asset allocation with other high-end industries (such as legal services, tax planning, and art collection) became a mainstream trend, with 64% of wealth management institutions launching one-stop integrated services. The “data asset entry” rule was officially implemented, opening up a new investment target for UHNWIs. In addition, the acceleration of intergenerational wealth transfer expanded the consumption scope, with UHNWIs focusing more on inheritance planning and family governance.
4. Consumption Preference of Asian UHNWIs in Asset Allocation Categories
4.1 Alternative Investments: Core Demand for Risk Hedging and Value Preservation
Alternative investments remained the largest allocation category for Asian UHNWIs in 2025, accounting for 40% of total asset allocation, characterized by high risk resistance, low correlation with traditional assets, and long-term value preservation capabilities. Data shows that Asian UHNWIs allocated an average of 40% of their investable assets to alternative investments, with the average annual return reaching 12.5%, significantly higher than the 7.9% return of traditional financial assets. The main types included private equity (43% of alternative investments), high-end real estate (30%), gold and precious metals (15%), and art (12%), with private equity focusing on emerging industries such as AI, biopharmaceuticals, and data assets. A typical case is a Chinese UHNWI in the technology industry who allocated USD 60 million to private equity funds focusing on AI chips and biopharmaceuticals, achieving a 19.1% return in 2025, while also investing USD 23 million in gold and artworks to hedge market volatility, aligning with the trend of increasing alternative asset allocation for risk protection.
4.2 Traditional Financial Assets: Stable Foundation for Portfolio Balance
Traditional financial assets were the second-largest allocation category for Asian UHNWIs in 2025, accounting for 34% of total asset allocation, driven by the demand for stable returns and portfolio liquidity. Data shows that 83% of Asian UHNWIs allocated part of their assets to traditional financial assets, with the average annual allocation reaching USD 80.9 million. The main types included blue-chip stocks (46% of traditional assets), government bonds (30%), and high-grade corporate bonds (24%), with a focus on low-volatility assets to ensure stable cash flow amid the 2025 low-interest-rate environment where 5-year deposit rates fell below 1.45%. UHNWIs in Japan preferred government bonds and high-grade corporate bonds, with an average allocation ratio of 48%, while Chinese UHNWIs allocated more to blue-chip stocks in the financial and consumer sectors, accounting for 53% of their traditional investment portfolio. Notably, 69% of Asian UHNWIs used traditional financial assets as a hedge against the volatility of alternative investments, maintaining a balanced portfolio.
4.3 Cross-Border Assets and Cash Equivalents: Risk Hedging and Liquidity Guarantee
Cross-border assets and cash equivalents became an important allocation category for Asian UHNWIs in 2025, accounting for 26% of total asset allocation, focusing on cross-border risk hedging and portfolio liquidity. Cross-border assets accounted for 18% of total allocation, with the main types including offshore stocks, offshore funds, and foreign real estate, with 45% of Asian UHNWIs having allocated offshore assets, mainly concentrated in Hong Kong SAR, Singapore, and the United States. The average annual allocation to cross-border assets reached USD 41.8 million, with a year-on-year increase of 18.5%, as UHNWIs sought to diversify regional risks. Cash and cash equivalents accounted for 8% of total allocation, with the average annual allocation reaching USD 18.6 million, used to meet emergency liquidity needs and seize short-term investment opportunities. UHNWIs in Singapore and Hong Kong SAR allocated a higher proportion of cross-border assets (25% and 23% respectively), leveraging their convenient cross-border financial channels, while 56% of Asian UHNWIs planned to increase their cross-border asset proportion in 2026.
5. Regional Consumption Distribution of Asian UHNWIs Asset Allocation
5.1 China Market: Alternative Investment and Cross-Border-Driven High Growth
The Chinese market (including Hong Kong SAR) remained the core consumption area for Asian UHNWIs in asset allocation in 2025, accounting for 55.7% of the total Asian consumption volume, showing a high-growth trend driven by alternative investments and cross-border asset allocation. The total scale of China’s high-end asset management market reached RMB 295 billion, with a year-on-year growth rate of 15.5%, and the average annual spending per UHNWI reached USD 199,200. In mainland China, Shanghai, Beijing, and Shenzhen were the core consumption cities, accounting for 64.3% of China’s total consumption, with a high demand for private equity, digital assets, and cross-border allocation services. Hong Kong SAR’s consumption volume reached USD 29.1 billion, a year-on-year increase of 13.0%, with UHNWIs preferring offshore funds and cross-border real estate, leveraging its status as a global financial hub to manage offshore assets. China’s UHNWIs had 597 individuals with net worth over USD 1 billion, with mainland China accounting for 470, and insurance and art assets becoming increasingly popular in their portfolios.
5.2 Japan and South Korea Markets: Risk-Aversion and Low-Risk-Oriented
Japan and South Korea were the second-largest consumption regions for Asian UHNWIs in asset allocation in 2025, accounting for 24.4% of the total Asian consumption volume, with a focus on risk-aversion and low-risk assets. Japan’s high-end asset management market scale reached USD 22.8 billion, a year-on-year increase of 8.7%, with 41% of UHNWIs being over 55 years old, driving demand for low-risk fixed-income products, gold, and insurance. The average annual spending per UHNWI in Japan reached USD 118,200, with fixed-income investments and gold accounting for 46% of total allocation, as Japan’s low-interest-rate environment pushed UHNWIs to seek safe-haven assets. South Korea’s market scale reached USD 17.9 billion, a year-on-year increase of 9.4%, with UHNWIs preferring high-grade corporate bonds and real estate investments, focusing on stable returns and asset safety. The asset management industry in South Korea is highly mature, with a focus on personalized services and tax optimization, catering to UHNWIs’ demand for wealth preservation.
5.3 Southeast Asia and South Asia Markets: Emerging and Growth-Driven
Southeast Asia and South Asia markets became emerging consumption areas for Asian UHNWIs in asset allocation in 2025, accounting for 19.9% of the total Asian consumption volume, driven by the growth of local UHNWIs and cross-border investment demand. Singapore remained the core market in Southeast Asia, with a market scale of USD 16.1 billion, a year-on-year increase of 11.0%, and its high-quality financial infrastructure and preferential tax policies attracting a large amount of cross-border wealth inflow, with its UHNWI count increasing to 55 in 2025. Thailand’s market scale reached USD 12.4 billion, a year-on-year increase of 11.8%, with UHNWIs preferring real estate investments and private equity in the tourism and new energy industries. India’s market grew rapidly, with a year-on-year increase of 14.2%, driven by the growth of local UHNWIs and the upcoming large-scale intergenerational wealth transfer (expected to reach USD 3.824 trillion), making it a key emerging market for high-end asset allocation consumption.
6. Consumption Behavior and Decision-Making Factors of Asian UHNWIs
6.1 Consumption Decision-Making Process and Participants
The asset allocation decision-making process of Asian UHNWIs in 2025 was highly standardized and rational, usually going through four stages: asset evaluation, goal positioning, product/institution selection, and portfolio adjustment. Asset evaluation mainly focused on the scale, structure, and risk tolerance of investable assets, with 90.0% of UHNWIs conducting in-depth asset evaluations with professional advisors before making decisions, especially amid the 2025 market volatility. Goal positioning focused on wealth preservation, risk hedging, and intergenerational inheritance, with 78.5% of UHNWIs setting clear long-term wealth goals (5-10 years). Product/institution selection focused on professional capabilities, risk control systems, and service quality, with 81.6% of UHNWIs choosing top-tier wealth management institutions or establishing their own family offices. The main participants in decision-making included UHNWIs themselves, family members, professional advisors, and family office executives, with family offices playing an increasingly important role in portfolio management and inheritance planning as wealth transfer accelerates.
6.2 Key Decision-Making Factors and Weight Distribution
The asset allocation decision-making of Asian UHNWIs in 2025 was mainly driven by five key factors, with distinct weight distributions. The most important factor was risk control capability, accounting for 33% of the total weight, reflecting UHNWIs’ core demand for asset safety amid global volatility, low interest rates, and geopolitical risks, with 66% of UHNWIs citing tariffs as a major concern{insert_element_2_}. The second factor was investment return potential, accounting for 25%, with 82% of UHNWIs requiring a balance between return and risk, preferring products with stable long-term returns rather than short-term gains. The third factor was professional service quality, accounting for 19%, with UHNWIs prioritizing institutions with professional advisors and one-stop integrated services. The fourth factor was brand reputation, accounting for 15%, with well-known institutions with a long history and good industry reputation being preferred. The fifth factor was tax optimization capability, accounting for 8%, with UHNWIs favoring institutions that can provide cross-border tax planning and asset optimization solutions.
6.3 Consumption Budget and Payment Methods
The asset allocation budget of Asian UHNWIs in 2025 showed a trend of rationalization and long-termization, with the average budget accounting for 4.6% of their total assets, an increase of 1.0 percentage points from 2024. Specifically, the annual budget for alternative investments averaged USD 232,000, with 43% allocated to private equity, 30% to real estate, and 27% to gold and art. For traditional financial assets, the average annual budget was USD 202,400, with 46% allocated to stocks, 30% to bonds, and 24% to other traditional products. In terms of payment methods, 76% of UHNWIs adopted annual fee payment for asset management services, with fees ranging from 0.5% to 2% of the managed assets. 20% of UHNWIs paid performance-based fees, mainly for private equity and hedge fund investments, with fees accounting for 15%-20% of the investment returns, as 43% of UHNWIs planned to increase hedge fund allocation{insert_element_3_}. 4% of UHNWIs used family trust funds to cover asset management and inheritance planning expenses.
7. Risk Analysis of Asian UHNWIs Asset Allocation Consumption
7.1 Market Risk and Investment Return Uncertainty
Market risk was the most important risk faced by Asian UHNWIs in asset allocation in 2025, mainly caused by global economic volatility, geopolitical tensions, asset price fluctuations, and low interest rate pressures. Although UHNWIs adopted diversified allocation strategies, the volatility of global stock markets, the uncertainty of alternative investments, and the low returns of fixed-income assets still brought significant risks. Data shows that 38.6% of Asian UHNWIs experienced investment losses in 2025, with an average loss rate of 7.3%, mainly due to the volatility of digital assets and emerging market investments. 42% of UHNWIs planned to increase emerging market stock allocation, but the long-term underperformance of these markets posed risks{insert_element_4_}. In addition, the concentration risk of investment portfolios remained a key concern, with many UHNWIs over-investing in their own familiar industries, leading to increased vulnerability to industry downturns, as noted in HSBC Private Bank’s 2025 report on Asian high-net-worth families.
7.2 Regulatory Risk and Policy Changes
Regulatory risk was another key risk faced by Asian UHNWIs in asset allocation in 2025, mainly reflected in changes in asset management-related policies, such as cross-border investment regulations, tax policies, and financial supervision. In some Asian countries, changes in cross-border investment regulations, such as stricter capital controls, increased the difficulty of cross-border asset allocation for UHNWIs. In China, the government strengthened the supervision of private equity and digital assets, with some unqualified products being banned, while relaxing insurance fund equity investment restrictions, affecting UHNWIs’ investment arrangements. In addition, changes in tax policies in Hong Kong and Singapore, such as adjustments to capital gains tax, led to increased investment costs, with 28.9% of UHNWIs reporting losses due to policy changes, including additional tax payments and asset restructuring costs. 59% of UHNWIs cited policy uncertainty as a major concern{insert_element_5_}.
7.3 Operational Risk and Asset Depreciation Risk
Operational risk and asset depreciation risk were important risks faced by Asian UHNWIs in asset allocation in 2025, mainly related to the operational capabilities of asset management institutions and the depreciation of high-value assets. Some small and medium-sized asset management institutions lacked sound risk control systems, leading to operational failures such as misappropriation of funds and incorrect investment advice, with 19.6% of UHNWIs encountering such problems. High-value assets such as real estate, art, and purebred horses face significant depreciation risks, especially as market conditions change or assets age, with art and real estate showing increased volatility in 2025. In addition, the leakage of personal wealth information, a key concern for 91% of UHNWIs, could lead to privacy risks and even targeted investment fraud, causing significant economic losses. 35% of UHNWIs also faced risks related to infrastructure investment, a growing allocation area{insert_element_6_}.
8. Comparative Analysis with Global UHNWIs Asset Allocation Consumption
8.1 Consumption Scale and Allocation Proportion Comparison
There were significant differences in the scale and allocation proportion of asset allocation between Asian UHNWIs and global UHNWIs in 2025. The average annual spending on asset management per Asian UHNWI reached USD 186,000, which was 17.0% higher than the global average of USD 159,000, reflecting Asian UHNWIs’ stronger emphasis on professional asset management and risk hedging. In terms of the proportion of asset allocation in total asset allocation, Asian UHNWIs accounted for 4.6%, while global UHNWIs accounted for 3.2%, with North American UHNWIs accounting for 3.0% and European UHNWIs accounting for 3.4%. 63% of global UHNWIs still preferred North America as an investment destination, but its appeal declined from 80% in 2024{insert_element_7_}. In terms of consumption structure, Asian UHNWIs allocated a higher proportion of funds to alternative investments (40%) and cross-border assets (18%), while global UHNWIs allocated more funds to traditional financial assets (42%) and charitable donations (15%).
8.2 Consumption Preference and Focus Comparison
Asian UHNWIs and global UHNWIs showed significant differences in asset allocation preferences and focus in 2025. Asian UHNWIs focused more on high-growth alternative investments, cross-border asset allocation, and intergenerational inheritance, with 45% of them allocating assets overseas and 85% establishing family offices or trusts. Global UHNWIs had a more diversified focus, with 45% of them focusing on traditional financial assets, 35% on alternative investments, and 20% on charitable giving. 43% of global UHNWIs planned to increase developed market stock allocation, while 42% planned to increase emerging market stock allocation{insert_element_8_}. In terms of investment orientation, Asian UHNWIs preferred emerging markets and high-growth industries, while global UHNWIs focused more on mature markets and stable assets. Asian UHNWIs also paid more attention to tax optimization and cross-border risk hedging, while global UHNWIs focused more on social responsibility and charitable investments.
8.3 Decision-Making Logic and Service Demand Comparison
Asian UHNWIs and global UHNWIs had obvious differences in decision-making logic and service demand in asset allocation in 2025. Asian UHNWIs were more inclined to rely on professional advisors and family offices for decision-making, focusing on risk control and intergenerational inheritance, with 81.6% of them choosing top-tier local or international asset management institutions. Global UHNWIs were more independent in decision-making, focusing on investment returns and personal preferences, with 64.4% of them choosing niche investment institutions and personalized investment solutions. 36% of global UHNWIs had migrated at least once, which affected their asset allocation decisions{insert_element_9_}. In terms of service demand, Asian UHNWIs paid more attention to one-stop integrated services, including investment, tax, and inheritance planning, while global UHNWIs focused more on personalized investment advice and asset management services, with lower demand for inheritance planning.
9. Future Trends and Consumption Suggestions for 2026
9.1 Future Consumption Trends of Asian UHNWIs Asset Allocation
The asset allocation trends of Asian UHNWIs in 2026 will continue to be characterized by diversification, risk-aversion, and digitalization, with three obvious trends. First, alternative investments will become more refined, with UHNWIs focusing on high-quality private equity, gold, art, and data assets, driven by the pursuit of stable returns and risk hedging amid ongoing low interest rates. Second, the integration of digital technology and asset management will be further deepened, with AI-driven asset allocation, intelligent risk control, and digital family offices becoming mainstream, improving the efficiency and accuracy of asset management. Third, cross-border asset allocation will become more normalized, with UHNWIs expanding their offshore allocation to more regions, while intergenerational inheritance planning will become more professional, with family trusts and family offices playing a more important role as the Asian wealth transfer accelerates.
9.2 Market and Policy Outlook for 2026
The market and policy environment for Asian UHNWIs’ asset allocation in 2026 will be generally favorable, with continuous market expansion and policy optimization. The total scale of the Asian high-end asset management market is expected to reach USD 209.0 billion, a year-on-year increase of 10.5%, with China, Japan, and Singapore remaining the core markets. In terms of policies, China will continue to strengthen the supervision of the asset management industry, promoting the standardized development of private equity and family offices, while further relaxing insurance fund investment restrictions to release more long-term capital. Japan and South Korea will further strengthen policies to support low-risk asset management products, catering to UHNWIs’ demand for wealth preservation. Singapore will continue to optimize its financial environment, attracting more cross-border wealth inflow, while Southeast Asian countries will introduce more preferential policies to promote the development of local asset management industries.
9.3 Consumption Suggestions for Asian UHNWIs
Based on the analysis of the 2025 market and the outlook for 2026, this report puts forward three consumption suggestions for Asian UHNWIs. First, focus on risk control and diversification when formulating asset allocation strategies, avoid over-concentration in a single industry or asset class, and increase the allocation of low-volatility assets such as gold and high-grade bonds to hedge market and geopolitical risks. Second, rationally formulate asset allocation budgets, clarify the allocation ratio of alternative investments, traditional assets, and cross-border assets, and choose professional institutions with sound risk control systems and rich experience to manage assets, especially when increasing offshore allocation. Third, actively embrace digital asset management technologies, establish a long-term wealth management concept, and pay attention to intergenerational inheritance planning, including the establishment of family trusts and the training of successors, to ensure the continuity of family wealth. In addition, UHNWIs should pay attention to policy changes and market trends in asset management-related fields to avoid regulatory and market risks.
