Younger investors are driving interest in alternative asset classes

The next generation is focused on achieving the best outcomes for people, portfolios and the planet Umang Papneja CEO, Julius Baer India

- Dipti Sharma

Younger investors are taking a more active role in establishing family offices to professionalise wealth management, said Umang Papneja, chief executive officer (CEO) of Julius Baer India. "Additionally, there is a growing interest in alternative asset classes, including private equity and private credit, as younger investors prioritise diversification and seek higher returns."

He said asset allocation preferences are evolving, with equity accounting for up to two-thirds of portfolios and a growing appetite for alternative investment funds (AIFs) and private equity.

Papneja said, "We believe that investments in AIFs and private equity will continue to grow, driven by their potential for diversification and higher returns".

What challenges have you faced as CEO and how have you addressed them? In 2022, we embarked on a transformation strategy for India, focused on strengthening our capabilities in people, product, process, technology, and infrastructure. Now in the home stretch, the plan is taking shape effectively.

On the people front, we have significantly bolstered management depth with the appointment of a new COO, chief of staff and a new business head for wealth management. We have also expanded our relationship manager teams across regions to improve client servicing, although finding the right talent has not been easy. Currently, we operate in seven physical locations while servicing clients in 13 locations through a hub-and-spoke model. Our ambition is to expand to 10 offices in 20 markets by 2026.