Mumbai: India’s ultra-high net worth individuals (UHNIs), representing a cumulative net worth of over Rs 2 lakh crore, prefer to invest in growth assets, particularly in tier 1 and Tier 2 cities, where 54 per cent allocate over 80 per cent of their portfolios to growth capital, compared to 23 per cent in metros, according to a new report.
Second-generation UHNIs demonstrate relatively higher growth expectations, with 40 per cent targeting portfolio returns of over 16 per cent relative to 33 per cent among the first generation, said the report by Nuvama Private, the UHNI business of Nuvama Group. Intergenerational wealth transition remains a work in progress as only 31 per cent of UHNIs have essential frameworks in place, and just 21 per cent have formal trusts, the findings showed in the first edition of the report, titled ‘The Exceptionals’.
"India’s wealth story continues to evolve, shifting from preservation to purpose-driven deployment. At Nuvama Private, we see this as a defining moment in India’s financial progression, where equity participation, alternatives, and curated investment solutions are shaping a mature ecosystem capable of amplifying capital for generations,” said Ashish Kehair, MD and CEO, Nuvama. These stories reflect this transformation, as India’s wealth creators steer the next phase of growth with clarity, confidence, and conviction, he mentioned.
Europe remains the favourite luxury destination for India’s UHNIs, with 92 per cent travelling abroad at least twice a year for curated, experiential getaways. Art and luxury collectibles attract 65 per cent of UHNIs, with 58 per cent investing in passion assets across preferred brands, hobbies, vintage and luxury cars, according to the report. It documents the personal narratives of India’s UHNIs, detailing how they established their businesses through resilience, emotional strength, and long-term vision. “The Exceptionals delves into the layered facets of India’s wealthy individuals, who have built enduring value for their families, ecosystems, and the nation,” said Alok Saigal, President and Head, Nuvama Private.
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