In the middle of a global pandemic and the related economic crisis, why should we be interested in the wealthy? Simply put, if we are to understand market and asset performance then they form a central part of the story. 

The objective of The Wealth Report is to assess how the fortunes of UHNWI are changing, where they spend time, what they invest in and what they are likely to do next. From policymakers to investors, a lack of insight into the behaviour and attitudes of the "1%" risks a serious misreading of economic trends. This is the knowledge gap we fill. 

 The global responses to the pandemic supported the wealthy 

WIth lower interest rates and more fiscal stimulus, asset prices have surged, driving the world's UHNWI population 2.4% higher over the past 12 months to more than 520,000. The process was seen across North America and Europe, but it was Asia, with 12% growth, that saw the real upswing. The expansion in wealth was not universal, with a fall in number of UHNWIs in Latin America, Russia and the Middle East as currency and the pandemic underminded local economies. 

Liam Bailey, Knight Frank's Global Head of Research.