Global market for rich investors grows

The global market for wealthy individuals with over $1m (£490,000) of investable assets rose by 11% in 2006, according to International Financial Services London (IFSL). This was the biggest rise for seven years and brings the market to over $37 trillion. But the share of alternative assets, including hedge funds and private equity, halved from 20% to 10%, as investors moved towards real estate. IFSL estimates that Britain is home to 610,000 millionaires, a figure only exceeded by America and Japan.