Mumbai, Dec 24 || India’s ultra-high net worth individuals (UHNIs), representing a cumulative net worth of over Rs 2 lakh crore, prefer to invest in growth assets, particularly in tier 1 and Tier 2 cities, where 54 per cent allocate over 80 per cent of their portfolios to growth capital, compared to 23 per cent in metros, according to a new report.
Second-generation UHNIs demonstrate relatively higher growth expectations, with 40 per cent targeting portfolio returns of over 16 per cent relative to 33 per cent among the first generation, said the report by Nuvama Private, the UHNI business of Nuvama Group.
Intergenerational wealth transition remains a work in progress as only 31 per cent of UHNIs have essential frameworks in place, and just 21 per cent have formal trusts, the findings showed in the first edition of the report, titled ‘The Exceptionals’.
India’s wealth story continues to evolve, shifting from preservation to purpose-driven deployment.