Number of millionaires rises 8.3%

Global millionaires rose by 8.3 percent last year as the ranks of the wealthy in the Asia-Pacific region overtook Europe for the first time, according to a report by Capgemini SA and Merrill Lynch & Co.
The number of individuals with at least $1 million of investable assets increased to 10.9 million after markets rebounded following the financial crisis, according to the 15th annual World Wealth Report published June 22. Global wealth held by millionaires rose to $42.7 trillion, exceeding the $40.7 trillion reported at the end of 2007.
Millionaires in Asia-Pacific jumped 9.7 percent to 3.3 million with the numbers in Hong Kong and Vietnam both climbing by about one-third, the report showed. That compared with growth of 6.3 percent to 3.1 million in Europe and 8.6 percent to 3.4 million in North America.
Global equity market capitalization rose 18 percent in 2010, the report said. &#8226