A survey carried out by PricewaterhouseCoopers and released yesterday Tuesday revealed the ongoing strength of the Asian private banking and wealth management business. The survey asked private bankers and wealth managers from 29 institutions in Hong Kong, Singapore and Australia to predict their asset growth rates for the next three years. The average growth rate predicted was 15% each year, for each of the next three years.
In an interesting example of the latent bullishness of the private banking community, the respondents also predicted that the average overall market growth rates would be 10%. In other words, all the respondents believed that they would beat the market. Sound familiar
The...
