HNWIs are taking a bullish view of the economy
A measure of the economic sentiment of the richest individuals in the US has reached its highest point since September 2014.
The Spectrem Millionaire Investor Confidence Index (of those with at least U$1 million in investable assets) jumped 9 points last month to a reading of 19, while the Spectrem Affluent Investor Confidence Index (investible assets of at least $500k) gained 6 points to 13, a 3-year high.
In a sign that affluent investors are becoming more active in the market, the data shows that the share of those not investing in the coming month fell from 43.9% to 40.2%.
For millionaire investors, the share who are planning to stay on the sidelines in the coming month was 32%, up slightly from August but below the 38/39% seen in the previous two months.
"The summer is over, and investors are choosing to believe in the market numbers, which continued to remain high throughout the usually lackluster summer months," said Spectrem President George H. Walper, Jr. "The bull has remained steady, and investors seem to believe the market will continue to thrive through the end of the year."
For Stock Mutual Fund investing among millionaires in the coming month, Spectrem’s research shows a five-month high of 43.8% while stock equity investing slipped 5 percentage points to 32%.
The wealthiest American investors are pulling back from real estate investments, with just 3.9% intending to allocate funds to those assets in the coming month, the lowest share in the index’s 13 year history.
The Spectrem Millionaire Investor Confidence Index (of those with at least U$1 million in investable assets) jumped 9 points last month to a reading of 19, while the Spectrem Affluent Investor Confidence Index (investible assets of at least $500k) gained 6 points to 13, a 3-year high.
In a sign that affluent investors are becoming more active in the market, the data shows that the share of those not investing in the coming month fell from 43.9% to 40.2%.
For millionaire investors, the share who are planning to stay on the sidelines in the coming month was 32%, up slightly from August but below the 38/39% seen in the previous two months.
"The summer is over, and investors are choosing to believe in the market numbers, which continued to remain high throughout the usually lackluster summer months," said Spectrem President George H. Walper, Jr. "The bull has remained steady, and investors seem to believe the market will continue to thrive through the end of the year."
For Stock Mutual Fund investing among millionaires in the coming month, Spectrem’s research shows a five-month high of 43.8% while stock equity investing slipped 5 percentage points to 32%.
The wealthiest American investors are pulling back from real estate investments, with just 3.9% intending to allocate funds to those assets in the coming month, the lowest share in the index’s 13 year history.
