This report is the result of WealthInsight's extensive research covering the high net worth individual (HNWI) population and wealth management market in Nigeria. The report focuses on HNWI performance between the end of 2007 (the peak before the global financial crisis) and the end of 2012. This enables us to determine how well the country's HNWIs have performed through the crisis.
This report provides the latest asset allocations of Nigeria HNWIs across 13 asset classes. The report also includes projections of the volume, wealth and asset allocations of Nigeria HNWIs to 2017 and a comprehensive and robust background of the local economy.
Independent market sizing of Nigeria HNWIs across five wealth bands HNWI volume and wealth trends from 2008 to 2012 HNWI volume and wealth forecasts to 2017 HNWI and UHNWI asset allocations across 13 asset classes Insights into the drivers of HNWI wealth
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The WealthInsight Intelligence Center Database is an unparalleled resource and the leading resource of its kind. Compiled and curated by a team of expert research specialists, the database comprises dossiers on over 60,000 HNWIs from around the world. The Intelligence Center also includes tracking of wealth and liquidity events as they happen and detailed profiles of major private banks, wealth managers and family offices in each market. With the Database as the foundation for our research and analysis, we are able obtain an unsurpassed level of granularity, insight and authority on the HNWI and wealth management universe in each of the countries and regions we cover. Report includes comprehensive forecasts to 2017.
In 2013, real estate was the largest asset class for Nigerian HNWIs with 25.0% of total HNWI assets, followed by equities with 18.0%, cash and desposits with 16.0%, fixed-income with 16.0%, business interests with 15.0%, and alternatives with 10.0%. Equities, business interests and alternatives recorded the strongest growth during the review period at 156%, 150% and 134% respectively. Real estate assets held declined from 27.3% of total HNWI assets in 2009 to 25.0% in 2013; allocations to commodities increased from 2.4% of total assets to 3.0% in the same period. Over the forecast period, WealthInsight expects allocations in commodities to decline to 2.2% of total HNWI assets by 2018, as global liquidity tightens due to a forecast near-term drop in demand from China for raw materials that will cause global commodity prices to level out. In 2013, Nigerian HNWI liquid assets amounted to US$45.0 billion, representing 50.1% of wealth holdings.
1 Introduction 1.1 Details of this Report 1.2 Definitions 2 Executive Summary 3 Wealth Sector Fundamentals 3.1 Political Background 3.2 Economic Background 3.3 Social Background 3.4 Benchmarking Nigeria's Wealth in Context 3.4.1 Distribution of wealth in Nigeria 3.5 HNWI Volume and Wealth Trends 4 Analysis of Nigerian HNWI Investments 4.1 Analysis by Asset Class 4.1.1 Trends in alternative assets 4.1.2 Trends in 'art, wine and wheels' 4.1.3 Trends of investments in real estate 4.1.4 Investments trends in cash and deposits 4.1.5 Investments trends in fixed income 4.1.6 Investment trends in equity 4.1.7 Investment trends in business interests 4.2 Analysis of Foreign Investments 4.2.1 Investments in Europe 4.2.2 Investments in North America (including the US, Mexico and the Caribbean) 4.2.3 Investments in Asia-Pacific 4.2.4 Investments in Central and South America 4.2.5 Investments in the Middle East 4.2.6 Investments in Africa 4.3 Alternative Breakdown: Liquid vs. Investable Assets 4.4 Analysis of Nigerian UHNWI Investments 5 Appendix 5.1 Additional Components of the Nigerian Wealth Sector 5.1.1 Philanthropy 5.1.2 Demand for intergenerational wealth transfer 5.1.3 Availability of human resources 5.2 Tax Regulations 5.3 Regulations Related to Immigration, Investment and Employment 5.4 Key Drivers 5.4.1 NGN to US$ exchange rate 5.4.2 Real GDP growth 5.4.3 Per capita GDP 5.4.4 Domestic market capitalization 5.4.5 Commodity index 5.4.6 Foreign direct investments - inflow and outflow 5.4.7 Inflation 5.4.8 Interest rate 5.4.9 Balance of payments 5.4.10 Government debt 5.4.11 Stock market performance 5.5 Wealth Breakdown 6 About WealthInsight
Table 1: HNWI Wealth Band and Group Definitions Table 2: Cities in Nigeria, 2013 Table 3: Nigerian Allocations of HNWI Assets, 2009-2018 Table 4: Nigerian HNWIs ? Holdings Growth (%), 2009-2018 Table 5: Nigerian HNWIs - Alternative Asset Composition (%), 2009-2018 Table 6: Nigerian HNWIs - Trends of Investments in Alternative Assets (%), 2009-2018 Table 7: Nigerian Trends in 'Art, Wine and Wheels', 2009-2013 Table 8: Global Prime Real Estate Prices per m2 (US$), 2012 Table 9: Nigerian HNWIs - Foreign Investment Allocations (%), 2009-2018 Table 10: Nigerian HNWIs - Liquidity Breakdown (US$ Billion), 2009-2018 Table 11: Nigerian HNWIs - Liquidity Breakdown (%), 2009-2018 Table 12: Nigerian UHNWIs - Allocations and Share of HNWI Assets, 2013 Table 13: Nigerian Income Tax Bands (NGN), 2013 Table 14: NGN per US$ Exchange Rate, 2009-2018 Table 15: Nigerian Real GDP Growth (%), 2009-2018 Table 16: Nigerian GDP per Capita (US$), 2009-2018 Table 17: Nigerian Domestic Market Capitalization (US$ Billion), 2009-2013 Table 18: Nigerian Commodity Indices, 2009-2018 Table 19: Nigerian Foreign Direct Investments (US$ Billion), 2009-2018 Table 20: Nigerian Inflation Rate (%), 2009-2018 Table 21: Nigerian Interest Rate (%), 2009-2018 Table 22: Nigerian Balance of Payments (US$ Billion), 2009-2013 Table 23: Nigerian Government Debt as a Percentage of GDP (%), 2009-2018 Table 24: Nigerian Stock Market Performance, 2009-2013 Table 25: Nigerian HNWI Wealth vs GDP Ratio (%), 2009-2018 Table 26: Nigeria - Appendix One Table 27: Nigeria - Appendix Two
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