$1.5 trillion wealth transfer is coming. How India’s next-gen HNIs are rebuilding family portfolios

By 2030, India could see a staggering $1.5 trillion wealth transfer between generations, requiring families to overhaul their investment strategies. Next-generation high-net-worth individuals (HNIs) are demanding more transparency, formal investment frameworks and professional management to navigate their diverse portfolios, which now span listed equities, fixed income, private markets, real estate, gold and overseas assets.

Unlike their parents, this new generation seeks to view family wealth as a comprehensive balance sheet, with a more segmented risk appetite. While not necessarily more risk-tolerant, they are comfortable taking concentrated risks in private equity and other alternative investments. They also demand greater involvement in the investment decision-making process, interacting with advisers frequently to understand the investment thesis, risks, valuation and alternatives.

Allocation strategies vary significantly based on individual circumstances. For instance, a tech entrepreneur who recently sold his business may have a very different portfolio than a family member heavily invested in the business. However, a 2026 Julius Baer-EY study reveals that many Indian family offices are currently allocating 40-45% to alternatives, including private equity, venture capital, private credit, alternative investments, real estate investment trusts (REITs) and infrastructure investment trusts (InvITs).

The range for a diversified portfolio could be: listed equities (25-35%), fixed income (15-25%), private markets/alternatives (15-25%), real estate/real assets (10-20%), and gold (5-10%). There is also an increasing trend of international exposure, making up 10-20% of the overall portfolio. This represents a shift from the previous generation's concentration in a single business or industry, to a more diversified approach across various asset classes and geographies.