Expat Indians provide investment target
Expatriate Indians could have up to $US500 billion of funds to invest, according to a UK researcher.
Datamonitor found there are 6.2 million expatriate Indians living in Australia, US, UK, Canada, Singapore, Hong Kong, Qatar and Bahrain.
While global banks and investment houses are chasing this wealth, the research report found investments back in their homeland accounts for between 15-25 per cent of an expatriate portfolio.
Datamonitor analyst Koelle Boyce said the emotional attachment to their homeland is sometimes overstated as she found Indian expatriates are also interested in emerging markets and offshore funds.
The profile of a non-resident Indian is a sophisticated investor who demands online functionality, an active role in investment decisions and frequent communications with their adviser or fund manager.
“Non-resident Indians demonstrate substantial interest in tax advisory services, international investments, private equity and linked products,” she said.
To tap into this market, investment managers are forming joint ventures with Indian companies, Boyce said.
These joint ventures include distribution agreements and the development of funds management businesses in India.
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