HNIs News

Watch collecting is the most popular hobby, with 63 percent of HNIs owning at least four watches. One-fourth of those polled changed cars in less than three years. Mercedes-Benz is the most popular luxury car brand, followed by Rolls-Royce and Range Rover.

Indian investors may look at acquiring properties in UK, including in London, following devaluation of pound and fall in real estate prices due to Britain's exit from European Union, property consultants said on Friday.

Investment through participatory notes (P-Notes) into India's capital markets has hit a 16-month low of Rs 2.31 lakh crore at the end of January amid weakness in equity markets.

India's financial hub Mumbai, which is home to 41,200 millionaires, and national capital Delhi, which houses 20,600 high net worth individuals, have been named among the top Asia Pacific cities for HNIs.

The wealth of the country's high networth individuals (HNIs), which is likely to touch at USD 1.224 trillion this year, may nearly double to USD 2.3 trillion by 2020, says a study.

As it steps up its crackdown on tax evasion and laundering of black money through stock markets, regulator SEBI has busted an 'innovative' scheme wherein HNIs were incurring 'bogus losses' to offset tax liabilities.

"We do believe that principal reason behind international equity funds not picking up currently is the differential tax treatment," JP Morgan Asset Management managing director and chief executive Nandkumar Surti told PTI, adding, "we keep giving representation on the issue to the government seeking a level playing field.

Investment in Indian markets through participatory notes (P-Notes), a preferred route for HNIs and hedge funds from abroad, declined to Rs 2.36 lakh crore (USD 38 billion) in December from the preceding month.

Investments into domestic shares through participatory notes (P-Notes) surged to the highest level in more than six-and-half years at Rs 2.65 lakh crore (about USD 43 billion) in October.