List of Figures
Figure 1: Affluent individuals account for 17.5% of the total adult population in France
Figure 2: Affluent individuals account for over 80% of total liquid assets in France
Figure 3: Growth in the French retail savings and investments market will steadily rise to 2020
Figure 4: Deposits will continue to dominate French retail savings and investments
Figure 5: Slower growth is forecast across all retail investment classes to 2020, but deposits will be the largest contributor
Figure 6: Retail deposits will outperform wage and GDP growth to 2020
Figure 7: After a strong 2015, the CAC 40 has struggled in 2016
Figure 8: The performance of the CAC 40 closely aligns with mutual fund and equity investment growth rates
Figure 9: Retail bond holdings will marginally decline
Figure 10: REITs account for the majority of illiquid assets
Figure 11: French HNWs allocate 14% of their assets offshore
Figure 12: Tax efficiency is the main driver of offshore investments for French HNWs
Figure 13: French HNW individuals tend to hold their offshore wealth in European centers
Figure 14: France has signed a number of DTCs and TIEAs with international jurisdictions

List of Tables
Table 1: French income tax rates and thresholds for individuals, 2015
Table 2: Tax surcharges on property gains, 2015
Table 3: French social tax rates, 2015
Table 4: French wealth tax rates, 2015
Table 5: Onshore liquid assets ($m) by asset band, 2011-15
Table 6: Onshore liquid assets ($m) by asset band, 2016-20
Table 7: Adult population (000s) segmented by wealth band, 2011-15
Table 8: Adult population (000s) segmented by wealth band, 2016-20
Table 9: Euro-US dollar exchange rate, December 31, 2014 and December 31, 2015