Rich feel duty to use assets for society: Barclays

In addition,72 per cent of HNIs surveyed said they would loan some of their possessions to a museum,if asked,the survey noted.

Despite the increased public interest in collectibles and record prices being set at auction,the report found that investors are far more likely to buy treasure assets for emotional,rather than financial reasons.

In India,HNIs,on an average hold around three per cent of their total net worth in treasure assets. This is way below to their global counterparts who on an average invests 10 per cent of their total net worth in treasure assets.

“This report delves into the attitudes of those investing in alternative ‘treasure assets’ such as precious metals,jewellery,wine and coin collections,” Barclays Wealth and Investment Management Division CEO Satya Bansal said.

There will always be both an emotional and a financial component to the decision making process,but,given some of the difficulties associated with maintaining,securing and liquidating treasure assets,our study suggests that it is the former that will always pay the greater return,” he added.

The survey said that a number of different factors appear to affect the popularity of treasure asset types,from the age of the investor to the wider economic stability of their region.

Fine art and antiques tend to be more popular among older individuals,while the younger generation prefers cars,wine,precious metals and jewellery.

“In general,younger individuals also tend to hold a higher proportion of their total wealth in treasure assets,which experts have attributed in part to young people’s willingness to adopt higher-risk investment strategies,” the survey said.

Individually,precious jewellery is by far the most popular treasure asset type for wealthy individuals across all countries,with 91 per cent of respondents investing in this asset,followed classic automobiles (57 per cent) and precious metals (37 per cent) in the past five years.

Across the globe,Indians hold the highest proportion of assets for cultural reasons (58 per cent) and as heirlooms (67 per cent) to be enjoyed by children or grandchildren. The survey said Besides,Indian respondents also hold the highest proportion of treasure (59 per cent) to enjoy with friends,it added.