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Wealthy bullish on economy, markets

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High net-worth investors are bullish on the economy, and, even more so, on their own investment portfolios, according to a survey by Morgan Stanley Wealth Management. 

Most wealthy investors — 71 percent — see the U.S. economy as being the same or better a year from now. And 90 percent expect their investments to be performing equally well or even better a year from now than they have during the run-up to record market highs. 

How long that will, in fact, last is anyone’s guess. 

“While investors clearly are feeling the benefits of two consecutive years of strong performance in U.S. equities, the debate continues over the length and durability of the current bull market, and the impact and timing of higher interest rates,” said Gregory Fleming, president of Morgan Stanley Wealth Management and Morgan Stanley Investment Management. 

The survey polled 1,000 investors with at least $100,000 in investable assets. One-third of the respondents had assets of $1 million or more. Wealthy investors in the San Francisco and Chicago markets have the most favorable outlook on the U.S. economy, with 79 percent in each city foreseeing continued economic growth.