When Indian stocks were rallying this March-April to hit new peaks, the country’s high net-worth individuals, or HNIs, were thinking of cross-border options to park their money.
Wealth managers say many HNIs were seen using the liberalised remittance scheme (LRS) route to buy stocks of foreign companies on foreign stock exchanges and to acquire overseas properties. LRS allows Indian nationals to invest or send money anywhere in the world.
As the ongoing credit and liquidity crisis took a toll on debt mutual funds, especially in credit risk funds, and the equity market turned choppy, ultra-HNIs and family offices began shifting out of traditional options.
Many are evaluating structured credit opportunities in the alternative investment fund (AIF) basket, he said.
Globally, an HNI is a person with $1 million investable surplus while ultra HNI is a person with a surplus in the upwards of $10 million. By Indian wealth market standards, an HNI is a person with more than Rs 5 crore in investible surplus, while those with more than Rs 30 crore surplus fall in the bracket of ultra HNIs.
Capgemini’s World Wealth Report for 2018 showed India’s HNI population grew at the fastest rate in the world at over 20 per cent in 2017 to 2,63,300 from 2, ..
Wealth managers say many HNIs were seen using the liberalised remittance scheme (LRS) route to buy stocks of foreign companies on foreign stock exchanges and to acquire overseas properties. LRS allows Indian nationals to invest or send money anywhere in the world.
As the ongoing credit and liquidity crisis took a toll on debt mutual funds, especially in credit risk funds, and the equity market turned choppy, ultra-HNIs and family offices began shifting out of traditional options.
Many are evaluating structured credit opportunities in the alternative investment fund (AIF) basket, he said.
Globally, an HNI is a person with $1 million investable surplus while ultra HNI is a person with a surplus in the upwards of $10 million. By Indian wealth market standards, an HNI is a person with more than Rs 5 crore in investible surplus, while those with more than Rs 30 crore surplus fall in the bracket of ultra HNIs.
Capgemini’s World Wealth Report for 2018 showed India’s HNI population grew at the fastest rate in the world at over 20 per cent in 2017 to 2,63,300 from 2, ..
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