Where Is 60% Of India's Uber-Rich Storing Their Wealth? Here's What The Bernstein Report Says

Nearly 60% of the wealthiest citizens' assets in India are parked in real estate as well as gold, a report by Bernstein revealed.

The Bernstein report primarily refers to the top wealth segment as the 'Uber-Rich', which is a group that includes Ultra High Net Worth Individuals (UHNI), High Net Worth Individuals (HNI) and the Affluent class.

These groups collectively only represent 1% of Indian households, but control nearly 60% of the country's total assets, the report added.

Total Wealth Of India's Richest

The total household wealth in India is estimated at $19.6 trillion, out of which $11.6 trillion, or 59% is held by the Uber Rich, as per an ANI report.

Out of this, only $2.7 trillion is invested in serviceable financial assets like mutual funds, equities, insurance, and bank or government deposits, financial instruments which can easily be managed or reallocated.

This capital is also referred to as the Serviceable Addressable Market (SAM) for wealth managers.

The remaining money, which is approximately $8.9 trillion, remains tied up in non-serviceable assets like physical real estate, gold, promoter equity, and cash holdings, the report added.

What Does This Mean For Wealth Managers?

The report highlights a significant opportunity for wealth managers and investment advisors in India, especially as the affluent class starts to diversify away from traditional investments.

The report further noted that this wealth segment has remained largely unpenetrated by formal wealth management services, with a considerable portion of financial wealth unmanaged.

The report further highlighted that the top 1% of India earns 40% of all income, while the rest of India holds just a small fraction of both income and assets.

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