|
|
 |
|
| News & Scoreboards |
Signs of Life
12/01/2003
|
It has been a terrible three years. But don’t
give up hope. That’s the message to be gleaned from several recent surveys of the investment performance of high net-worth investors.
 The scope of the bad news is astonishing. The erosion of wealth last year claimed $1.9 trillion from affluent investors, according to the Boston Consulting Group’s Winning in a Challenging Market—Global Wealth 2003. Since January 2000, declining markets have erased almost $5.3 trillion of these investors’ wealth, the report states.
Despite those losses, cumulative wealth actually grew 3.6 percent last year, to $27.2 trillion, boosted by growth in Europe and Asia, according to Merrill Lynch and Cap Gemini Ernst & Young’s World Wealth Report 2003.
North American investors’ wealth decreased 2.1 percent last year due to the poor showing in the equities markets. But European HNWI wealth in dollar terms grew 4.8 percent, partly due to the appreciation of the euro and British pound sterling against the dollar. The fastest growth was in Asia, where HNWI wealth grew 10.7 percent, supported by relatively high savings rates and Gross Domestic Product growth in China, South Korea, and Australia.
|
|
|
|
|
|
|
