As with any news of how ultra high net worth is being defined and distributed in the world, there is good news and challenging newsand the latest Knight Frank Wealth Report 2013 has both.
One of the good things is that their research methods are pure, and the report is one of the very few that tracks the attitudes and interests of the ultra high net worth population by surveying private investment bankers and others who work with this group on a daily basis. From these data, present and future attitudes can be extrapolated and predicted with reliable degree of veracity.
First, news of financial challenge: It has been six years since the early signs of the financial crisis started to emerge, but, according to the Knight Frank Wealth Report, the global economy is still feeling effects. In 2012," the report states, economic growth slipped to its lowest level since 2009. While the signs are that growth will pick up this year, many major economies are still performing well below what trend, with some struggling to achieve any improvement in economic output at all. But despite this gloomy economic backdrop, there was still room for wealth creation in 2012."