Wealth creation spreads beyond metros: Julius Baer India

Julius Baer, the Swiss wealth manager with assets under management of CHF 547 billion ($672 billion), plans to double its business in India over the next five years. Rahul Malhotra, Region Head for Emerging Markets at Julius Baer, told businessline that wealth creation is now happening across the country, not just in major metros.

The bank is adopting a hub-and-spoke model, with Pune serving Maharashtra and Goa, Jaipur covering neighbouring markets, and additional hubs in Bengaluru and Chennai. Malhotra said Indian clients are increasingly looking offshore, with the proportion of wealth kept abroad rising from 5-7 per cent four to five years ago to 10-15 per cent now, and up to 20 per cent for some families.

On investment trends, Malhotra described direct investing as 'somewhat overhyped', warning that investors rarely discuss losses. He said high-net-worth individuals are turning to fixed income, REITs, InvITs, structured products and alternatives as equity returns have slowed over the past 18 months.