A big majority of high-net-worth American investors are looking forward to a strong year despite worries about the U.S. economy, the budget deficit and geopolitical tensions.
A Morgan Stanley investor pulse poll, released Wednesday, found that 88% of investors expected their financial wellbeing to be better or the same as in 2013.
Nearly as many expected their investment portfolios to be better or the same, and 70% saw a better or similar investment climate.
GfK Public Affairs polled 1,004 U.S. investors, age 25 to 75, with $100,000 or more in investable household financial assets during the fourth quarter. A third of those interviewed had $1 million or more in household financial assets.
“The experience of 2013 has not been lost on investors,” said Gregory Fleming, president of Morgan Stanley Wealth Management and Morgan Stanley Investment Management, said in a statement.
“Despite a great deal of economic uncertainty, equity markets performed strongly as expectations accelerated for economic growth, and investors are looking for more of the same in 2014.”
Investors expected to end 2014 with 42% of their portfolio dedicated to equities, including stocks, mutual funds and ETFs.
They said 23% of their allocation would go to cash, another 23% to fixed income and 13% to all other investments.
Millionaire investors said they expected to commit an even higher allocation, 50%, to equities.