The strong wealth creation growth in China is changing the distribution of wealth across Asia Pacific.By 2024, the number of UHNW individuals in the Asia Pacific region is expected to grow at an average of 8% per annum, to reach a total of nearly 66,000, of whom 42% will be from China. As a result the wealth management market in the region is undergoing major shifts from fixed-income investment to multi-asset investment, from the domestic market to the global markets, from short-term speculation to long-term horizon, from single products and opportunities to diversified portfolios, from wealth generation by first-generation entrepreneurs to succession by the second generation of wealth managers.
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