High net worth individuals and business owners globally say they're getting more optimistic about the economy, but are still holding a large percentage of their wealth in cash, data from a third quarter UBS Global Wealth Management survey shows.
By the numbers: The survey polled more than 4,600 wealthy investors and entrepreneurs in 18 countries.
- Wealthy U.S. investors are putting more of their money into instruments like stocks and bonds while holding 21% of holdings in cash.
- Globally, investors have 27% of holdings in cash, "much higher than the percentage typically recommended," UBS analysts note. Still, 34% say they are shifting more into cash.
- 53% of respondents expressed optimism on the global economy and 61% on their own region’s economy.