India Wealth Managers Buck Asia With Rise in Managed Assets - Bloomberg

India Wealth Managers Buck Asia With Rise in Managed Assets  Bloomberg

India’s wealth managers saw a rise in assets under management in 2018, bucking a slowing trend in most of Asia, according to a survey by Asian Private Banker. The top 20 wealth firms in India expanded their AUM by 18% over the previous year to $193 billion, the report published Monday showed. In contrast, assets at the 20 largest private banks across the whole of Asia fell 3.6% as market turbulence deterred rich clients from deploying their wealth, according to an APB survey in April. Domestic asset managers continued to expand their hold on the market, accounting for about 78% of the top 2...