Singapore’s wealthy keep more than 70% of assets in cash despite rising wealth: Citi
The preference for cash is consistent with Singapore’s broader preference for liquidity and financial resilience.
Singapore's affluent investors are holding more than 70% of their assets in cash and liquid deposits, despite growing their wealth, according to a Citi report. Average assets for Singapore's high-net-worth (HWN) clients rose 6% to US$1.5 million in the first half of 2026, while average assets under management (AUM) for affluent clients increased by 5% to over US$565,000.
Cash and deposits still made up 72% of onshore assets held by affluent clients and 74% of offshore assets, with only 26-28% allocated to investments. This preference for liquidity and capital preservation is seen as an opportunity for banks and wealth managers to offer more investment products and advisory services to help clients diversify their wealth.
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