HNWIs see stock buying opportunity

Private jet2Three-quarters of high-net-worth individuals (HNWIs) are planning to invest more money in stocks the first six months of this year, according to a global poll. The survey, carried out by financial advisory group deVere Group, found that HNWIs are attracted by the low prices of stocks as markets across the globe remain volatile. DeVere polled 767 people with investable assets of £1 million (€1.3 million) or more from countries including the UK, the US, Australia, and United Arab Emirates. Nigel Green, founder and chief executive of deVere Group, said that many HNWIs “kept their powder dry” last year as the markets rose then fell and there was the looming Federal Reserve interest rate hike on the horizon. “But any qualms they might have had last year are now countered by more attractive prices,” he added. Green also says that although it is difficult to tell if this is the bottom of the market; the poll suggests that HNWIs believe it is and therefore there are major buying opportunities. ©2016 funds europe

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