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HNWI Asset Allocation in Turkey 2013

Published: Feb, 2013 | Pages: 68 | Publisher: WealthInsight
Industry: Wealth Management | Report Format: Electronic (PDF)


Synopsis
This report is the result of WealthInsight's extensive research covering the high net worth individual (HNWI) population and wealth management market in Turkey.
Summary
This report provides the latest asset allocations of Turkish HNWIs across 13 asset classes. The report also includes projections of the volume, wealth and asset allocation of Turkish HNWIs to 2017 and a comprehensive and robust background of the local economy.
Scope
Independent market sizing of Turkish HNWIs across five wealth bands HNWI volume, wealth and allocation trends from 2007 to 2012 HNWI volume, wealth and allocation forecasts to 2017 HNWI and UHNWI asset allocations across 13 asset classes Insights into the drivers of HNWI wealth
Reason To Buy
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 profiles on major private banks, wealth managers and family offices in each country. The WealthInsight Intelligence Center Database also includes up to one hundred data-points on over 100,000 HNWIs from around the world. 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.
Key Highlights
There were just over 94,000 HNWIs in Turkey in 2012. These HNWIs held US$500 billion in wealth, which equates to 43% of total individual wealth held in the country. In 2012, business interests were the largest asset class for HNWIs in Turkey (24% of total HNWI assets), followed by equities (22%), fixed income (19.6%), real estate (18.4%), cash (11.8%) and alternatives (4.3%). Fixed income products recorded the strongest growth over the review period, driven by a movement into safer assets and relatively high local savings rates. As of 2012, HNWI liquid assets amounted to US$103 billion, representing 20.7% of the wealth holdings of Turkish HNWIs. WealthInsight's research showed that in 2012, 39% of Turkish HNWIs had second homes abroad. The primary locations for these homes included Geneva, Zurich, Paris and London. At the end of 2012, Turkish HNWIs held 26.6% (US$138 billion) of their wealth outside their home country, which is in line with the worldwide norm of between 20% and 30%.
 1 Introduction 
1.1 Details of this Report 
1.2 Definitions 
2 Executive Summary 
3 Wealth Sector Fundamentals 
3.1 Political Background 
3.2 Economic Background 
3.3 Benchmarking Turkish Wealth in Context 
3.3.1 World statistics 
3.3.2 Distribution of wealth in Turkey 
3.4 HNWI Volume and Wealth Trends 
4 Analysis of Turkish HNWI investments 
4.1 Analysis by Asset Class 
4.1.1 Trends in alternative assets 
4.1.2 Trends in "art, wine and wheels" 
4.1.3 Trends of investments in real estate 
4.1.4 Trends of investments in cash and deposits 
4.1.5 Trends of investments in fixed income
4.1.6 Trends of investments in equity 
4.1.7 Trends of investments in business interest 
4.2 Analysis of Foreign Investments 
4.2.1 Investments in Europe 
4.2.2 Investments in the Middle East 
4.2.3 Investments in North America 
4.2.4 Investments in Asia-Pacific 
4.2.5 Investments in Latin America 
4.2.6 Investments in Africa 38
4.3 Alternative Breakdown: Liquid vs Investable Assets 
4.4 Analysis of Turkish UHNWI Investments 
5 Appendix 
5.1 Additional Components of the Wealth Sector in Turkey 
5.1.1 Philanthropy 
5.1.2 Demand for intergenerational wealth transfer 
5.2 Regulatory environment in Turkey 
5.2.1 Regulations on taxes 
5.3 Key Drivers 
5.3.1 LC to US$ exchange rate 
5.3.2 Real GDP growth 
5.3.3 Per capita GDP 
5.3.4 Domestic market capitalization
5.3.5 Housing price index 
5.3.6 Commodity index 
5.3.7 Foreign direct investment 
5.3.8 Inflation rate 
5.3.9 Interest rate 
5.3.10 Balance of payments 
5.3.11 Government debt 
5.3.12 Stock market performance 
5.4 Wealth Breakdowns 
6 About WealthInsight 
Table 1: HNWI Wealth Band and Group Definitions 
Table 2: The largest 10 cities by population, 2011 
Table 3: TURKEY: Data Summary 
Table 4: TURKEY - Forecast Summary 
Table 5: TURKEY: Allocations of HNWI Assets, 2007?2017 
Table 6: TURKEY: HNWI Holdings Growth (%), 2007-2017 
Table 7: TURKEY: HNWIs - Trends of Investments in Alternative Assets (%), 2007-2017 
Table 8: TURKEY: HNWIs - Alternative Asset Composition (%), 2007-2017 
Table 9: TURKEY: Trends in "Art, Wine and Wheels", 2007-2011 
Table 10: TURKEY: Residential real estate prices, US$ terms, 2012 
Table 11: GLOBAL: Prime International Cities (US$), 2007-2012 
Table 12: GLOBAL: Prime real estate prices per square meters, US$ terms, 2012 
Table 13: TURKEY: HNWIs - % Foreign allocation, 2007-2017 
Table 14: TURKEY: HNWIs - Liquidity Breakdown (US$ Billion), 2007-2017 
Table 15: TURKEY: HNWIs - Liquidity Breakdown (%), 2007-2017 
Table 16: TURKEY: UHNWI Allocations and Share of HNWI Assets, 2012 
Table 17: TURKEY: Income Tax Structure for Individuals in Turkey, 2012 
Table 18: TURKEY: Free Zones, 2012 
Table 19: TURKEY: TRY to US$ Exchange Rate, 2007-2017 
Table 20: TURKEY: Real GDP Growth, 2007-2017 
Table 21: TURKEY: GDP Per Capita, 2007-2017 
Table 22: TURKEY: Domestic Market Capitalization (US$ Billion) 2007-2011 
Table 23: TURKEY: Housing Price Index, 2007-2012 
Table 24: TURKEY: Commodity Indices, 2007-2017 
Table 25: TURKEY: Foreign Direct Investments (US$ Billions) 2007-2017 
Table 26: TURKEY: Inflation Rate, 2007-2017 
Table 27: TURKEY: Money Market Rate, 2007-2017 
Table 28: TURKEY: Balance of Payments (US$ Billion) 2007-2012 
Table 29: TURKEY: Government Debt to GDP, 2007-2017 
Table 30: TURKEY: Stock Market Performance, 2007-2012 
Table 31: TURKEY: HNWI Wealth vs GDP Ratio, 2007-2017 
Table 32: TURKEY: Appendix One 
Table 33: TURKEY: Appendix Two  



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