A survey of 1000 of Australia’s richest families shows how they have retreated to safe haven assets to ride out the uncertainty associated with the war in Ukraine and rising inflation. cash investment richlist
The top asset class among the ultra-rich was cash and term deposits in the first half of 2023, followed by shares, real estate and exchange-traded funds, according to research that shows how wealthy investors carve up their portfolios.
“Since this survey, we are seeing our clients move money out of equities and cash and into bonds, due to fixed income opportunities providing comparable yields to equities at a much lower risk,” LGT Crestone chief executive Michael Chisholm said.Survey respondents were asked to nominate the proportion of their portfolio invested in each asset class.
“The number of companies listed in the US has steadily fallen in recent years and this is the first year in 20 years that the ASX has shrunk,” he said.
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