The phenomenal growth in the number of the super rich has laid the foundation for an unprecedented expansion of the wealth management industry in India. Inevitably, it has also driven the entry and growth of luxury brands that cater exclusively to the tastes of the ultra high net worth individuals (ultra HNIs). However, there is dearth of information on the earning, spending and investing trends of the ultra wealthy. Kotak and CRISIL seized the opportunity to create a report that analyses and tracks these trends year on year with specific reference to the Indian market.

Kotak is a pioneer and leader in the private banking space in India. Its Wealth Management team caters to over a quarter of the 100 most wealthy (as per the Forbes India Rich List - 2011) in India. CRISIL is the foremost provider of high-end research to the world’s largest banks and leading corporations.

The takeaways gleaned from this report will be invaluable for people who manage the wealth of the ultra rich, and will help niche companies operating in the segment to come up with more innovative marketing or distribution strategies for their products.

In the report, the first of what will be an annual edition; the spotlight is on behavioural aspects such as what drives these individuals, what their priorities or motivations are when it comes to spending or investing, and whether there is any homogeneity in their actions as a class. The conclusions are extremely revealing, and a lot of meaningful insights, some even positively surprising, have emerged from the analysis. « less