Singapore’s wealthy keep 70% of assets in cash, more than US investors
Singapore’s wealthy investors are keeping over 70% of their money in cash and deposits, higher than those in the U.S., reflecting a preference for liquidity.
According to a recent report, Singapore's wealthy individuals are storing 70% of their assets in cash, a higher proportion than their counterparts in the United States. The asset management company Citi Wealth and research firm RFI Global found that average assets held by Singapore's high-net-worth (HNW) clients grew by 6% year-on-year to US$1.5 million in the first half of 2026.
Assets under management for affluent clients increased by 5% to over US$565,000 in the same period. The HNW segment includes banking customers with at least $1 million in assets, while the affluent segment covers those with $100,000 to $1 million. Cash and liquid deposits comprised 72% of onshore assets held by affluent clients and 74% of offshore assets.
Only 26% to 28% of assets were invested. In the U.S., affluent and HNW clients allocate 58% of their assets to long-term investments and hold 42% in deposits. The high cash holdings in Singapore reflect investors' preference for liquidity and capital preservation, while providing opportunities to diversify into longer-term investments.
This trend raises questions about balancing ready access to cash with long-term wealth growth. Mutual fund ownership among Singapore's HNW investors nearly tripled from 11% in 2022 to 31% in 2026, the highest in Asia. However, cash holdings remain dominant, indicating that transitioning to longer-term investments is still ongoing.
Citibank Singapore CEO Yeo Wenxian attributed Singapore's status as a regional wealth management hub to its stable operating environment and strong global market connections. As wealth becomes increasingly international, clients seek opportunities beyond their home markets and trustworthy guidance in navigating a complex investment landscape.
Written by urgent.news from VnExpress Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
