Marktanalyse - HNWI Asset Allocation in Germany to 2016

Synopsis
This report is the result of WealthInsight’s extensive research covering the HNWI population and wealth management industry in Germany. It provides detailed figures on the current and expected HNWI asset allocations of German HNWIs to 2016.

Summary
This report provides the latest asset allocations of German HNWIs. The report also includes projections of the volume, wealth and asset allocation of German HNWIs to 2016 and a comprehensive and robust background of the local economy, including, uniquely, detailed analysis of economic and political risks to HNWI wealth creation.

Scope
The report features:
• Independent market sizing of German HNWIs
• HNWI volume, wealth and allocation trends from 2007 to 2011
• HNWI volume, wealth and allocation forecasts to 2016
• HNWI and UHNWI asset allocations across 13 asset classes
• Geographical breakdown of HNWI assets from 2007 to 2016
• Insights into the drivers of HNWI wealth

Reasons To Buy
• The WealthInsight Intelligence Center Database is an unparalleled resource and the leading resource of its kind. Compiled and curated by a team of expert research specialists, the Database comprises up to one hundred data-points on over 100,000 HNWIs from around the world. It also includes profiles on major private banks, wealth managers and family offices in each country. With the Database as the foundation for our research and analysis, we are able obtain an unsurpassed level of granularity, insight and authority on the HNWI and wealth management universe in each of the countries and regions we cover.
• Comprehensive forecasts to 2016.

Key Highlights
• Germany has the fourth highest number of HNWIs in the world after the US, Japan and China. As of 2011, there are just over 1.25 million HNWIs in Germany, accounting for roughly 36% of Germany’s total wealth.
• In 2011, equities are the largest asset class for HNWIs in Germany, accounting for 24% of total HNWI assets, followed by real estate (23%), business interests (22%), fixed income (16.0%), alternatives (8.8%) and cash (6.4%).

Table of Contents

1 Introduction

1.1 What is this Report About?

2 Executive Summary

3 Wealth Sector Fundamentals

3.1 Political Background to the Wealth Sector

3.2 Economic Background to the Wealth Sector

3.3 Benchmarking German Wealth in Context

3.3.1 Distribution of Wealth

4 Analysis of German HNWI Investments

4.1 Analysis by Asset Class

4.1.1 Changing Trends in Liquid Assets — Equity, Fixed Income and Cash and Deposits

4.1.2 Trends in Alternative Assets

4.1.3 Trends in 'Art, Wine and Wheels”

4.1.4 Trends of Investments in Real Estate

4.1.5 Trends of Investments in Cash and Deposits

4.1.6 Trends of Investments in Fixed Income

4.1.7 Trends of Investments in Equity

4.1.8 Trends of Investments in Business Interest

4.2 Analysis of Foreign Investments

4.2.1 Trend of Investments in Rest of Europe

4.2.2 Trend of Investments in Asia-Pacific

4.2.3 Trend of Investments in North America

4.2.4 Trend of Investments in Latin America, the Middle East and Africa

4.3 Analysis of German Ultra HNWI Investments

5 Appendix

5.1 Major Cities in Germany

5.2 Additional Components of the Wealth Sector in Germany

5.2.1 Philanthropy

5.2.2 Demand for Intergenerational Wealth Transfer

5.2.3 Human Resource Availability for the Wealth Management industry

5.3 Regulatory Environment in Germany

5.3.1 Banking Regulations

5.3.2 Regulations on Taxes

5.3.3 Regulations on Wealth Management and Private Banking

5.3.4 Regulations related to immigration, investment and employment

5.4 Key Economic Trends and Drivers

5.4.1 EUR to USD Moving Annual Average Exchange Rate

5.4.2 Real GDP Growth

5.4.3 Per Capita GDP

5.4.4 Gross Savings Rate as a % of GDP

5.4.5 Domestic Market Capitalization

5.4.6 Housing Price Index

5.4.7 Commodity Index

5.4.8 Foreign Direct Investment (FDI)

5.4.9 Investments of FII’s in Equity Products

5.4.10 Inflation Rate

5.4.11 Interests Rate

5.4.12 Balance of Payments

5.4.13 Government Debt

5.4.14 Stock Market Performance

5.4.15 HNWI Wealth vs. GDP Ratio

5.4.16 Capital Formation as % of GDP

5.4.17 Disposable Income as % of GDP

5.5 Case Study — Financial regulation in the European Union (EU)

5.6 Social Background of Germany

5.7 Technological Background of Germany

6 About WealthInsight







List of Tables

Table 1: HNWI Wealth Band and Group Definitions

Table 2: Major Regions in Germany, 2010

Table 3: HNWIs — HNWI Holdings Growth (%), 2007-16

Table 4: HNWIs — Liquid Asset Composition (%), 2007-16

Table 5: HNWIs — Trends of Investments in Alternative Assets (%), 2007-16

Table 6: HNWIs — Alternative Asset Composition (%), 2007-16

Table 7: HNWIs — Trends in 'Art, Wine and Wheels”, 2006-11

Table 8: HNWIs — Residential real estate index per city, 2011

Table 9: HNWIs — Commercial real estate rental prices per city, 2011

Table 10: HNWIs — Prime International Cities, 2007- 2011

Table 11: HNWIs — % Foreign Allocation, 2007-16 — X Axis

Table 12: UHNWIs — Allocations and Share of HNWI Assets, 2011

Table 13: Largest 10 Cities in Germany, 2010

Table 14: HNWIs — Inheritance tax bands

Table 15: Euro to USD Moving Annual Average Exchange Rate, 2006—16

Table 16: Real GDP Growth Rate, 2006—16

Table 17: GDP Per Capita, 2006—16

Table 18: Gross Savings as a % of Real GDP, 2006—2016

Table 19: Domestic Market Capitalization, 2006—11

Table 20: Housing Price Index, 2006—11

Table 21: Commodity Indices, 2006—16

Table 22: Foreign Direct Investments, 2006—2016

Table 23: Investments of FIIs in Equity Products, 2006—10

Table 24: Inflation Rate, 2006—16

Table 25: Money Market Rate, 2006—16

Table 26: Balance of Payments, 2006-11

Table 27: Government Debt to GDP, 2006—16

Table 28: Stock Market Performance, 2006—11

Table 29: HNWI Wealth vs. GDP Ratio, 2006—16

Table 30: Capital Formation as % of GDP, 2006-16

Table 31: Disposable Income as % of GDP, 2006-16

Table 32: Patent applications by country, 2010

Table 33: Appendix 1

Table 34: Appendix 2







List of Figures

Figure 1: HNWI Wealth Band Definitions

Figure 2: Map of Germany

Figure 3: Asset Price Performance, 2007-11

Figure 4: German HNWI Performance, 2007-15

Figure 5: HNWI — Germany vs. the World

Figure 6: HNWIs — Asset Class Composition, 2007-16

Figure 7: HNWIs — Changing Trends in Total Liquid Assets (as % of Total Assets), 2007-16

Figure 8: HNWIs — Liquid Assets Composition (US$ Billions), 2007-16

Figure 9: HNWIs — Trends of Investments in Alternative Assets (in US$ Billion), 2007-16

Figure 10: HNWIs — Trends in 'Art, Wine and Wheels”, 2006-11

Figure 11: HNWIs —Foreign Asset Allocation vs. Growth, 2011-2016

Figure 12: HNWIs — Global Distribution of Foreign Investments, 2007-16

Figure 13: UHNWIs — Asset Class Composition, 2007-16

Figure 14: GBP to USD Moving Annual Average Exchange Rate, 2006—16

Figure 15: Real GDP Growth (%), 2006—16

Figure 16: GDP Per Capita, 2006—16

Figure 17: Gross Savings as a % of Real GDP, 2006—2016

Figure 18: Domestic Market Capitalization, 2006—11

Figure 19: Housing Price Index, 2006—11

Figure 20: Commodity Indices, 2006—16

Figure 21: Foreign Direct Investments, 2006—2016

Figure 22: Investments of FIIs in Equity Products, 2006—10

Figure 23: Inflation Rate, 2006—16

Figure 24: Money Market Rate, 2006-16

Figure 25: Balance of Payments, 2006-11

Figure 26: Government Debt to GDP, 2006—16

Figure 27: Stock Market Performance, 2006—11

Figure 28: HNWI Wealth vs. GDP Ratio, 2006—16

Figure 29: Capital Formation as % of GDP, 2006-16

Figure 30: Disposable Income as % of GDP, 2006-16

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