India's ultra-rich prefer investing in equities, bonds over real estate, gold: Report

Agencies
March 7, 2019

Mumbai, Mar 7: India's "ultra-high net worth individuals" (UHNWI) -- with assets worth $30 million and more -- prefer investing in equities and bonds rather than real estate and gold, a Knight Frank report said on Wednesday.

According to the data provided by The Wealth Report 2019, around 30 per cent of investments by Indian UHNWIs went to equities and 28 per cent to bonds, followed by 24 per cent in properties. Investment in gold was just 4 per cent.

"For the year 2018, Indian respondents gave a thumbs-up to equities and bonds where respondents to the survey said that their clients preferred these high-return investment assets," it said.

In the year ahead, the report projects wealthy Indians would get more inclined towards equities and bonds, while globally investors are likely to go for investments into property and the most liquid asset of cash.

In the Indian market, there is a strong bend towards equities (34 per cent) and private equities (37 per cent), it said on the outlook for 2019. Private equity, which saw only about 4 per cent of wealth allocation in 2018, is set to see a significant rise in 2019, it said.

"Bucking the global trend, Indian UHNWI showed least preference for the most liquid of all assets, i.e. cash, which registered a negative sentiment. A strong trend was also witnessed in bonds investment for which sentiments saw a rise of 20 per cent," said the report.

Commenting on the report, Shishir Baijal, Chairman and Managing Director, Knight Frank India, said: "While globally UHNWIs are showing affinity towards more liquid investments as it is the most risk-averse asset, Indian counterparts on the other hand are increasing their exposure in the equity and bonds."

"There is a sense of confidence amongst Indian UHNWIs on the strength of the country's economic growth, which is pushing them to invest in higher risk assets for shorter periods of time. Real estate and luxury investments, which are the most illiquid assets, remain largely stable," Baijal said.

Further, the report predicts that India would have the highest growth in the number of ultra-high net worth individuals with a likely 39 per cent growth during 2018-2023, followed by the Philippines (38 per cent) and China (35 per cent).

"Despite the election uncertainties of 2019, India's wealth is expected to charge ahead over the next five years with the number of UHNWIs rising to 2,697. Starting from a low base, the Philippines is projected to have 296 UHNWIs by 2023, less than 2 per cent of the projected ultra-wealthy population of Japan, the most prominent Asian wealth hub," it said.

India's UHNWI population grew by 24 per cent during 2014-18 and accounts for 1,947 UHNWIs whose net worth was over $30 million in 2018. It grew by 7 per cent in 2017-2018, well above the global average (4 per cent) and the Asia average (3 per cent).

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
Agencies
June 26,2020

Facebook will introduce a new notification screen on its platform that will warn users if the article they are about to share is over 90 days old, the company announced on Thursday.

“We’re starting to globally roll out a notification screen that will let people know when news articles they are about to share are more than 90 days old,” Facebook wrote in a blog post.

The social media platform had previously introduced a context button in 2018 that provides information about the sources of articles in the News Feed. Building upon that, the new feature will inform users about the timeliness of the article.

“To ensure people have the context they need to make informed decisions about what to share on Facebook, the notification screen will appear when people click the share button on articles older than 90 days, but will allow people to continue sharing if they decide an article is still relevant,” Facebook said.

The social media giant stated that timeliness is important in understanding the context of an article and curbing the spread of misinformation on the platform.

“News publishers, in particular, have expressed concerns about older stories being shared on social media as current news, which can misconstrue the state of current events. Some news publishers have already taken steps to address this on their own websites by prominently labelling older articles to prevent outdated news from being used in misleading ways,” Facebook added.

Apart from this, the platform will also be testing a similar notification screen for information related to the global Covid-19 pandemic. The notification screen will provide information about the source of the link shared in a post if the link is related to information on Covid-19. It will also direct people to its previously introduced Covid-19 information centre for “authoritative” health information, it said.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
Agencies
June 13,2020

The Brazilian government said that the Amazon rainforest witnessed deforestation of a record 829 sq km in May, the highest monthly level since 2015.

On Friday, the National Institute for Space Research (INPE) said that deforestation in the Amazon increased by 91 sq km compared to the same period last year, reports Xinhua news agency.

Between January and April, destruction of the forest by illegal loggers and ranchers rose 55 per cent, or a total of 1,202 sq km was wiped out, it said.

The Real-time Deforestation Detection system, a federal project created to monitor human activity in the Amazon, alerted authorities to the increase in the rate of destruction of the rainforest.

A recent study by the Amazon Environmental Research Institute (IPAM) warned that deforestation in 2020 could reach 11,900 sq km if the pace of May, June, and July follows the historical average.

Deforestation in the region has soared since President Jair Bolsonaro took office last year, according to conservation groups.

He has argued that more farming and mining in protected areas of the forest were the only way to lift the region out of poverty.

Bolsonaro's environmental policies have been widely condemned but he has rejected the criticism, saying Brazil remains an example for conservation.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
Agencies
July 25,2020

In a study conducted in 117 countries, researchers have found that the world is experiencing the most dramatic reduction in the seismic noise (the hum of vibrations in the planet's crust) in recorded history due to global COVID-19 lockdowns.

Measured by instruments called seismometers, seismic noise is caused by vibrations within the Earth, which travel like waves and the waves can be triggered by earthquakes, volcanoes, and bombs - but also by daily human activity like travel and industry.

This quiet period was likely caused by the total global effect of social distancing measures, closure of services and industry, and drops in tourism and travel, the study published in the journal Science, reported.

The new research, led by the Royal Observatory of Belgium and five other institutions around the world including Imperial College London (ICL), showed that the dampening of 'seismic noise' caused by humans was more pronounced in more densely populated areas.

"Our study uniquely highlights just how much human activities impact the solid Earth, and could let us see more clearly than ever what differentiates human and natural noise," said study co-author Stephen Hicks from ICL in the UK.

For the findings, the research team looked at seismic data from a global network of 268 seismic stations in 117 countries and found significant noise reductions compared to before any lockdown at 185 of those stations.

Researchers tracked the 'wave' of quietening between March and May as worldwide lockdown measures took hold.

The largest drops in vibrations were seen in the most densely populated areas, like Singapore and New York City, but drops were also seen in remote areas like Germany's the Black Forest and Rundu in Namibia.

Citizen-owned seismometers, which tend to measure more localised noise, noted large drops around universities and schools around Cornwall, UK and Boston, US - a drop in noise 20 per cent larger than seen during school holidays.

The findings showed that countries like Barbados, where lockdown coincided with the tourist season, saw a 50 per cent decrease in noise.

"The changes have also given us the opportunity to listen in to the Earth's natural vibrations without the distortions of human input," the study authors wrote.

Earlier in April, a study published in the journal Nature, reported at least a 30 per cent reduction in that amount of ambient human noise since lockdown began in Belgium.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.