interesting article, they hold 40% of the portfolio in realestate, only 27% in equities....and thats how they became even richer than before...
Australia's rich list jumps by 34pc Katherine Jimenez From: The Australian September 29, 2010 12:00AM
extract only..... Highlighted in the report was that Australian HNWIs were the heaviest investors in real estate in the region, with 40 per cent of their assets held in property.
"Australian high-net-worth individuals turned the risk switch off in 2009, with investors perceiving real estate to be less volatile than many other forms of investment," said Merrill Lynch Wealth Management's senior vice-president of investments, Peter Opie. "This is a trend that has continued through 2010."
Prestige cars, yachts and jets were preferred "passion investments" for Australian HNWIs.
Luxury collectables accounted for 32 per cent of total passion investments for Australian investors, followed by art which accounted for a further 26 per cent.
Overall, Asia-Pacific HNWI investors ended last year with 27 per cent of their assets held in equities, up from 23 per cent a year earlier, as they headed back into equity markets. There was also a shift towards real estate.
