The 12th annual World Wealth Report 2008 released by Capgemini and Merrill Lynch states there are over 10 million people globally with at least $1 million of financial assets in 2007, an increase of 6% over 2006.
High net worth investors invested in safety last year with 44% of their financial assets in cash and fixed income securities. Uncertainty in 2007 lead these investors away from alternative investments, such as hedge funds, although hedge funds still make up 30% of alternative investments.
With 2007’s market uncertainties, green investing show marked growth in 2007 among the very rich. Worldwide, 12% of HNWIs allocate part of their portfolios to green sectors including alternative energy. HNWIs in Europe and the Middle East lead the way in green investments: 17% of European HNWIs and 20% of Middle Eastern HNWIs are invested in green. Only 5% of North American HNWIs show a green portion of their portfolio.
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