According to the Merrill Lynch / Capgemini 2007 World Wealth Report, assets of HNW individuals rose to US$40.7 trillion worldwide, an increase of 9.4 per cent over 2006, and a slightly weaker growth rate than the 11.4 per cent rise in 2006 from 2005. The number of HNW individuals rose by 6 per cent to 10.1 million, compared with a year-on-year rise of 8.3 per cent in 2006.   In the survey, a HNW individual is defined as someone with at least $1 million of investable wealth, excluding collectables and the primary residence.

Among individual nations, India was the brightest star: its population of HNW individuals skyrocketed by 22.7 per cent last year, while China’s headcount rose by 20.3 per cent, Brazil’s rose by 19.1 per cent, and Russia’s by 14.4 per cent.

In developed economies, the growth rates were generally far weaker. The number of HNW individuals rose by just 3.7 per cent in Europe in 2007 from 2006; 4.2 per cent in North America and 8.7 per cent in Asia-Pacific.

According to the Boston Consulting Group 2007 survey of Central and Eastern European Private banking sector, assets under management (starting with individual portfolios of US $100 000) rose by 30% in Russia in 2007. The total Russian market of Private banking was estimated by US $640 billion. The annual growth of 10-15% till 2012 was predicted.