This is a pivotal moment for private wealth. Despite ongoing economic headwinds, we believe that now is the time to focus on the opportunities ahead.
Welcome to Knight Frank’s Wealth Report 2023, the 17th edition of this market-leading report.
In last year’s edition we described the surge in new wealth creation on the back of the postCovid bounceback and its impact on asset price and market performance. The story at the heart of this year’s report is driven by the legacy of that economic rebound.
We find ourselves in a new investment environment. Rising inflation was the number one risk cited in The Wealth Report 2022. That led to one of the biggest rises in interest rates in history – and a corresponding shift in investor behaviour. Asset prices fell back and, as we confirm in this report, overall wealth levels fell.
Despite the challenges still facing many markets, in this year’s report we argue that now is the time to look beyond the crisis. We believe that investor sentiment will brighten as interest rates are seen to peak.
We have taken the opportunity to look forward at the themes we believe will dominate investor behaviour through this year and next.