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China's rich investors stay optimistic
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CHINESE mainland affluent investors are optimistic about domestic equities this year even though concerns about market volatility and economic slowdown persists, a global investment survey showed.
Some 79 percent of mainland high-net worth investors aged 40 years old and above ranked domestic stocks as the best investment opportunity in the next 12 months while the figure was 77 percent among young affluent investors aged between 18 and 39, according to a survey conducted by Legg Mason, an US-based global investment management firm.
Around two thirds of investors said domestic stocks would rise this year, with expected gain of Shanghai Composite Index to be 12.4 percent on average.
The result was part of a global survey of affluent investor who has investable assets of at least US$200,000. It surveyed 5,370 investors across 19 markets, including around 220 on Chinese mainland.
For older investors, domestic stock market volatility was the top concern for investment while young investors worried the most about the ongoing economic slowdown in China, according to the survey.
The survey found mainland investors had the highest risk tolerance among global investors, but they are getting conservative with the percentage of investors taking conservative strategy rising from 63 percent last year to 69 percent this year.
The survey also pointed to a growing appetite for international investment as 78 percent of older investors and 87 percent of young investors had plan for overseas investment this year, both higher than the global average.
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