The crème de la crème club is growing and how. Despite not so robust economic growth, the number of ultra high networth households has grown 7% year-on-year and at 16% CAGR in FY16, according to Kotak Wealth Management. In fact, the rich are confident about good times ahead and are increasingly investing in their primary business instead of stashing their saving. More, importantly, wealth generation has also become a priority for professionals as seen in their asset allocation strategy. Not surprising that Kotak, expects the rich club to swell to 294,000 by FY21 and their cumulative wealth to surpass #300 trillion. Cheers to that!
