Kotak Wealth Management and CRISIL Research launched
Ultra HNIs Cautious With Prolonged Economic Slowdown, But Maintain Their Lifestyle Mumbai, August 6, 2013: Kotak Wealth Management and CRISIL Research launched the third edition of the „Top of the Pyramid‟ report in Mumbai today. The report reveals the emerging trends about spending, investing and income patterns of India‟s Ultra High Networth Households (ultra HNHs) amidst prolonged economic uncertainty. In this edition, the report‟s special focus areas are: first, what a „luxury home‟ means to an Ultra High Networth Individual (ultra HNI) and their purchase pattern; and second, the understanding and importance of estate planning. The report states that the number of Indian ultra HNHs is estimated to have grown to around 100,900 in 2012-13, and is expected to triple to around 329,000 over the next five years. Consequently, the net worth of ultra HNHs is estimated to surge 4.5 times from an estimated Rs.86 trillion (86,000 billion) in 2012-13, to Rs.380 trillion (380...