Singapore’s affluent population continued to strengthen its financial position over the past year, while investment in mutual funds gained significant momentum, according to a new study by
Citi Wealth and independent research firm RFI Global.
The white paper, published on Thursday, found that average assets held by Singapore’s high-net-worth individuals rose by 6% to $1.5 million. The wealth of affluent clients also recorded growth, increasing by 5% to more than $565,000. The research examines Singapore’s position among the world’s leading wealth management centres.
One of the most notable findings was the rapid expansion of mutual fund ownership among high-net-worth investors. Adoption climbed from 11% in 2022 to 31% in 2026, almost tripling over four years and reaching the highest level in Asia, ahead of markets including India and South Korea.
Despite growing interest in investment products, cash continues to account for a substantial share of wealth held by Singapore-based and internationally booked clients. The study found that cash and liquid deposits represented 72% of onshore affluent assets and 74% of offshore-booked assets.
This preference for readily accessible funds reflects a broader pattern across Asia’s major financial centres, where investors continue to prioritise liquidity even as they explore opportunities to diversify their portfolios.
The report also highlighted Singapore’s comparatively strong approach to intergenerational wealth transfer. Among individuals aged 55 and above, 76% had already prepared wills or established wealth succession plans, indicating a high level of readiness to pass assets on to the next generation.
The findings point to a wealth management market characterised by rising asset values, increasing participation in mutual funds and a continued emphasis on financial security. At the same time, the widespread use of cash and liquid deposits suggests that many investors remain cautious about committing a larger share of their wealth to market-based investments.
Singapore’s combination of expanding private wealth, growing investment diversification and succession planning continues to distinguish it as a significant centre for wealth management in Asia. Photo by Majush at the English Wikipedia, Wikimedia commons.
