The young wealthy

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One way to predict changes in the wealthy's investment needs and objectives is to look at how the younger wealthy are now behaving - on the assumption that some of these habits will stay with them in future years.

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Younger respondents to the survey (those under 45) are much more likely to spend 20 or more hours actively investing their portfolios each week (despite being more likely to be working full time too). This extra time seems to have led to some increased scepticism in some areas - notably over the future performance of equities, perhaps understandable, given the performance of equities over the last decade.

This rather hard-headed approach also translates into a less 'Calvinistic' approach to wealth, with younger respondents less likely than elder respondents to see wealth as a reward for hard work. They are also more likely to think that wealth earns respect from friends and family.

Younger respondents also seem to worry less about the political environment. However it would be wrong to therefore label them as being uninterested in social issues. Perhaps surprisingly, they are more likely than their elders to think that their governments handled the downturn well, and that the rich should set an example to others. They are also more concerned about climate change issues - and are less likely to think that the threat has been overstated.

So how will the young wealthy's attitudes evolve? Mitul Sanghavi is a Director at Akry Organics, a petrochemicals distributor in India established by his father. "The next generation are getting a better education," says Mr. Sanghavi "and they're exposed to other countries via the Internet and I think that's going to really transform the consumption of wealth. At present there's a lot of saving in India, but I think that these things will start changing." As Mr. Sanghavi puts it, "It's OK to grow financially, but at the same time, you need to grow mentally too."