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Endowus Private Wealth Insights:

HNW Investor

2024 Report

Uncover new insights into today's private wealth management industry, as well as the preferences and barriers faced by High-Net-Worth (HNW) investors across Asia’s key financial hubs, Singapore and Hong Kong.



The Endowus Private Wealth Insights: HNW Investor Sentiment 2024 report collates the sentiments and perspectives from close to 500* High-Net-Worth (HNW) investors in Singapore and Hong Kong. Our study delves into their preferences and challenges regarding private market investments such as private credit, private equity, private real estate and other financial alternatives like hedge funds.

Findings from the study uncovered an intention to shift more assets into private market strategies and hedge funds, as well as real assets alternatives, as HNW investors demand better returns with less correlation to public markets. However, challenges such as managing their private and public assets across platforms, a lack of transparent, publicly available fund information, and a lack of high-quality products persist.

This report offers valuable insights to investors and the broader private wealth industry alike, highlighting the untapped potential in private market strategies and hedge funds, and the opportunity to focus on improvements across strategies and service quality to better serve the needs of HNW investors.Read less
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*The study was conducted by YouGov Singapore in Q1 2024, surveying 492 HNW individuals across Hong Kong (n=226) and Singapore (n=266). Singapore respondents qualified as HNW based on meeting at least one of the following: (1) Annual income of at least SGD 300,000, (2) Personal investable assets of SGD 2M or more, (3) Financial assets of SGD 1M or more. 58% of total respondents (n=285) reported verified professional or accredited investor status across both markets.

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Key Insights From Singapore Respondents

2 in 5

want to strategically expand their private market strategies and hedge funds in 2024

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HNW investors in Singapore are seeking better investment returns, ahead of concerns such as keeping up with inflation, excessive risk taking, diversification and high fees. More than half of the respondents are also “optimistic” or  “very optimistic” about the 2024 economic outlook.

Taken together, these insights signal a growing demand for private market strategies and hedge funds exposure, due to the advantage these asset classes provide in lower correlation to public markets, a source of diversification, and presumably better risk-adjusted returns over the long term.
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1 in 3

cited a preference towards leveraging digital wealth platforms for private market strategies and hedge funds investing

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Managing more than US$5B in group assets, the Endowus Group have decades of investment expertise in public & private market investing, hedge funds & family office management.

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Digital wealth platforms are the most widely used option (51%), and the preferred mode of access (37%) for private market strategies and hedge funds investments amongst HNW investors in Singapore.

In comparison, only 21% of the Singapore respondents indicated a preference towards tapping private banking services through a relationship manager, reflecting a burgeoning shift towards self-directedness or self-managed portfolios among HNW investors here.
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cited fragmented investing experience as a barrier to increasing allocations to private market strategies and hedge funds

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Seamlessly invest in and manage your portfolios across public and private markets — all within the Endowus app. 

View our extensively curated list of over 200 top-tier funds by world class managers across all asset types and investment styles here.
Platform fragmentation further complicates the investment process for Singapore HNW investors, as public and private market portfolios are often managed by different wealth managers, and on multiple platforms.

This points towards the need for a holistic platform that can seamlessly offer a wide array of assets, from traditional markets to the more exclusive private market strategies and hedge funds, so as to streamline and simplify the investing experience.
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1 in 2

cited transparent and low fees as their top criteria in a wealth manager

Total client alignment with zero conflict-of-interest

Eradicating sales charges, transaction fees and providing 100% Cashback on Trailer Fees, all recommendations are derived from a bespoke and evidence-based wealth implementation plan based on your life's goals.

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HNW investors in Singapore demand more transparent pricing models, cost competitiveness, with a clear breakdown of fees involved. In a fee-only advisory model, investors pay wealth managers or platforms an assets-based fee directly for their advice – not through subscription fees, transaction fees, leverage, or recurring trailer commissions, which may incentivise churn, leverage, or selling high-commission products.

The fee-only advisor is incentivised only to grow the client’s wealth and is unconflicted in helping its clients succeed.
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