Nine in 10 affluent SG investors are wealthier than a year ago: study

One in 2 believe that now is the prime time for long-term wealth creation.

Nearly 1 in every 2 Singaporean investors believe that now is the prime time for long-term wealth creation and are more confident for their retirement, unperturbed by global volatility.

Of the share of Singaporean respondents from a pool of 620 high net worth investors surveyed across mainland China, Hong Kong, India, Singapore, and the UAE in May, 48% of the respondents expressed belief that there is now opportunity for long-term wealth creation, making them considerably more optimistic than the average of 37%, according to the Future of Wealth research published by Bloomberg Media.

Their higher net worths may have contributed to their optimism. Almost 9 in 10, or 87% of Singaporean investors polled said that their net worth had increased in the last three years. 

This is reportedly the highest share of respondents indicating an increase in their net worths compared with any of the four other markets polled.

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Tech key to more wealth
Investors have particularly said that their portfolios will benefit from technological advancements, with nearly 9 in 10 or 88% of Singaporean investors surveyed saying the same.

Over 9 in 10, or 94% said that they are prepared or extremely prepared for retirement, compared to only 85% in other markets.

Singapore’s affluent investors have shown particular interest in tech-related investments. More than 8 in 10 or 81% have invested in Bitcoin.

Nearly two-thirds or 62%, meanwhile, think that AI-based trading, including robo-advisors, could provide a key benefit in their future investment activities.

Almost the same share of investors, at 63%, believe digital assets have immense potential to be a long-term wealth generator and demand aggressive investment. This is the highest share of investors indicating such from any other market in the region.

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“What stood out about affluent investors in Singapore is that they’ve gone through this period of reflection and have come out feeling especially confident about their financial foundations as they think about things like long-term wealth, retirement and how to provide for future generations,” noted Michelle Lynn, global head of data science & insights at Bloomberg Media.