Introduction to structures and trusts. Asian clients are gaining a greater understanding that Jersey trust law in particular is robust and flexible. Indeed, the whole regulatory regime and financial services sector are more stable and more mature than many Asian jurisdictions, such as Singapore. As we explore in detail elsewhere in this issue, reserved power trusts are proving particularly popular. This is driven by young wealth holders and wealthy entrepreneurs in their 30s and 40s looking to keep control of their assets – not just having the power of investments but also appointing beneficiaries or varying the trust deeds. They are also looking for more and better guidance on long-term family asset protection and, for many, the Channel Islands meet this requirement. It’s clear that the opportunity to service a growing, yet under-serviced, wealth generation in Asia – together with Asian investors looking towards Europe and the UK in search of opportunities – is creating plenty of opportunity for Channel Islands financial services players. And the numbers here and in this issue demonstrate exactly why. n
Asian wealth by numbers
8%
Rise in population of high-net-worth individuals in Asia in 2020
17-fold
Increase in Asian wealth between 2001 and the end of 2019, when total Chinese household wealth reached…
$63.8trn $5trn
Value of Asian wealth set to be transitioned to the second and younger generations
70%
Proportion of Asia’s wealth community who say private clients in Asia are more willing than ever to professionalise their legacy and succession planning
4%
Proportion of Asia’s wealth community who believe the region’s wealth industry is prepared for the upcoming wealth transitions
87%
Proportion of Asia’s wealth community who believe digital technologies and connectivity from banks and wealth management firms will be important or crucial to the second and third generations
$66bn
Value of green bonds expected to be issued by Hong Kong’s government over the next five years
90% www.blglobal.co.uk
Proportion of Asian HNW investors who say they are interested in sustainable investments and plan to invest between 5% and 10% in this area
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