March 1 (Bloomberg) -- Barclays Plc’s Vikram Malhotra, global head of its wealth management unit serving the South Asian community, comments on investment preferences of wealthy Indians living abroad. Non-resident Indians are his unit’s largest customer group, he said in an interview in Singapore yesterday.
On asset class preferences:
“Fixed income, forex, real estate and structured products tend to be favored. Fixed income is a key part of their home bias because they understand Indian institution-issued paper. Indonesians do a fair bit of forex. Chinese clients tend to favor real estate and equities. No two clients are alike, but these are the general flavors.”
On business growth:
“We have the largest team globally, with over 30 bankers, serving the South Asian segment. We estimate the potential of this market to be $500 billion. I don’t fret over the $500 billion number. Assets under management have doubled every year since 2010 for the segment. And our plan for the next couple of years is to grow by 40 percent annually.”
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