Assets held by high-net-worth individuals increased 9.4%, to $40.7 trillion, last year, according to the 12th annual World Wealth Report, from Merrill Lynch & Co. Inc. and Capgemini.
Though the number of individuals in the United States with at least $1 million of assets increased 3.7%, the number of high-net-worth individuals globally rose 6%, to 10.1 million. The number of ultra-high-net-worth individuals (those with assets of at least $5 million) increased 8%.
The report, released Tuesday, cited "impressive economic gains and robust market capitalization growth" in emerging economies — Brazil, Russia, India, and China. India's high-net-worth population grew the most worldwide, 22.7%. China had the second-largest expansion, 20.3%, followed by Brazil (19.1%) and Russia (14.4%).
Globally, high-net-worth individuals continued to decrease their holdings in North America stocks and showed greater interest in domestic market investments.
