PW: What do you see as the next big thing or coming wave for ultra-high net worth investors?
Bitterly Michell: Citi Research believes that the outlook for the world economy as a whole is positive. Even after setbacks of the recent financial crisis, they believe there will be steady growth, averaging between 3 percent and 4 percent out to 2050 if current projections hold. According to Citi Research, GDP growth will largely be driven by the so-called “Emerging 7,” which includes China, India, Brazil, Russia, Indonesia, Mexico and Turkey.
Other drivers to watch are key technology innovations such as nanotechnology, biotechnology, mobile networking, faster and more accessible Internet, 3-D printing and sensors. Also, socially responsible investing and philanthropy should remain important topics for ultra-high net worth investors.