The size of the market of high net worth individuals increased by 7.49 per cent last year, a rate of growth that was 3 per cent lower than in 2006, to reach 571,200 individuals with at least £500,000 (about $1 million) in investable assets at the start of January 2008, according to a new study. Consultant MDRC’s tenth annual analysis of the UK’s HNW sector shows that there are over 2.4 million individuals in the UK with more than £100,000 in investable assets and 1 million individuals with more than £250,000. HNW growth in 2008 will be significantly lower than in recent years and is likely to be in the range of 5 per cent to 5.5 per cent. This growth rate assumes that UK gross domestic product grows by at least 1.5 per cent and that there are no significant further falls in asset value. The turnover of HNW individuals continues to be at very high levels. In the 12 months to January 2008, there were 111,000 new HNW individuals, but 67,000 of the existing HNW dropped out of this segment of the population, the report said.