CHICAGO, September 1, 2016 – With key market indices reaching record 2016 levels, affluent investors are reporting their highest levels of confidence for the year, according to Spectrem Group's High Net Worth Insights newsletter released today. Spectrem's Affluent Investor Confidence Index (SAICI®) rose three points to 7 in August. The Spectrem Millionaire Investor Confidence Index (SMICI®) increased to 12, a gain of four points from July. It’s just the second time this year that the SMICI has entered mildly bullish territory.
Since 2004, the monthly Spectrem Affluent Investor Confidence indices have tracked changes in investment sentiment among the 16.3MM households in America with more than $500,000 of investable assets (SAICI), and those with $1MM or more (SMICI). This month’s survey was fielded between August 17-23.
Although affluent investors report that the turbulent presidential campaign has the greatest potential impact on their economic outlook, it doesn’t seem to be clouding their investment mindset. Buoyed by the recent robust market performance, the intention of Affluent investors to hold on the investment sidelines in the coming month dropped to an 18-month low.
"Strengthening financial markets are translating into the highest confidence levels reported by affluent investors since November,” said Spectrem President George H. Walper, Jr. “This is reflected in their stated intention to be more likely to invest in equities in the coming month rather than hold on the investment sidelines. Although there is increased confidence, ongoing concerns about the economy kept the indices from gaining further traction.”
Charts, including a deeper analysis of the Index and its methodology are available upon request. Additional insights include:
Index range: -31 to -51, Bearish; -11 to -30, Mildly Bearish; 10 to -10, Neutral; 11 to 30, Mildly Bullish; 31 to 51, Bullish.
About Spectrem Group: Spectrem Group (www.spectrem.com) strategically analyzes its ongoing primary research with investors to assist financial providers and advisors in understanding the Voice of the Investor.