Investor confidence drops

The Singapore Investor Confidence Index Poll reveals there was an increase in the percentage of investors who will be more conservative amidst global economic woes.

According to a Bloomberg report, of the 502 investors who participated in the recent survey by JP Morgan Asset Management, 46 percent plan to invest more in next 6 months, compared with 60 percent in the 2010 survey.

“Of the investors, who all have more than 5 years of continuous investment experience and a minimum annual personal income of S$60,000, 12 percent will pare down investment, compared with 6 percent in the last poll done at the end of 2010,” said the report.

Brian Tan, the head of sales for JP Morgan Asset Management’s retail business in Singapore, said the decline in confidence is mainly the result of macroeconomic events such as the Arab Spring, the U.S. and European sovereign debt crisis and the Japan earthquake and tsunami.

The report noted that almost half of the survey’s respondents said they will not change their investment strategy while 18 percent will be more conservative, compared with 10 percent in the December survey.

View the report here.

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