Store is no sore

After nearly coming to a standstill, growth of private capital resumed in Russia in 2015 and 2016, and in the coming five years assets of the country’s richest households will grow at a double rate, even if not so fast as in 2011-2015: 4.9% a year on average, compared to 13.7% in the previous five-year period and 2.4% in 2015 and 2016. In fact, slowdown in wealth growth rates in recent years was mainly caused by the collapse of the stock market and real estate market. Russia will remain the main source of private capital in Eastern Europe. Unlike in most other regions, return on old assets for the wealthy in Russia will be bigger, than profits on new assets, according to the Global Wealth report published by BCG today.