A report by the analytics firm examines the approach that wealth management firms need to take in terms of their investment offerings for wealthy individuals in Asia.

The merits of customised investment offerings for high net worth individuals in Asia are overstated in some markets, while fund product features that are sought vary widely across the region, according to a study by Cerulli Associates, the analytics firm.

There is no clear consensus among HNWIs in Asia on fund product features. There is a strong need, the report says, for a targeted and localised strategy in Asia. The report by the firm is called Wealth Management in Asia 2015: Meeting the Needs of Asia's Affluent Investors. For the report, a proprietary survey of 3,000 retail investors in six key markets in Asia - China, Hong Kong, Taiwan, Korea, India, and Singapore - was conducted.

Cerulli said that contrary to what the broader wealth management industry has been actively promoting in the region in recent years, greater customisation of products for HNW individuals is “overrated” in some Asian markets. For Singapore, Hong Kong, and India, the need for greater customisation diminishes in importance at higher wealth tiers.

"In fact, HNW individuals from Hong Kong and Singapore, the two most developed financial hubs in the region, ranked greater product customisation seventh out of the eight product features listed," Shu Mei Chua, an associate director with Cerulli who led the report, said.

"The product features that investors look for are likely to be entirely different from their neighbors'," Yoon Ng, Asia research director with Cerulli, added.