Investors here are most anxious about money as a result of Covid-19, but also report highest levels of confidence in their savings.
Two-thirds of Singaporean investors polled by Fidelity International have reported increased anxiety as a result of the Covid-19 pandemic, the highest proportion out of the four Asian countries in the survey, which also includes Japan, Mainland China and Hong Kong.
Conversely, investors in Mainland China are least anxious about their financial wellbeing and most bullish on a speedy economic recovery, perhaps as a result of its “first in, first out” situation with the pandemic.
Some 2,434 investors who have purchased or owned any investment in the past 12 months were interviewed online by YouGov on behalf of Fidelity International between July 29 and Aug 3.
More than one-third (36%) of investors in Singapore claimed that the value of their investments has come down by “a lot”, the proportion of which is significantly higher among the four markets.
On a personal level, Singaporean investors’ concerns are highest out of the four markets when it comes to planning for retirement (59%).
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To minimise the financial impact of Covid-19, more than half (59%) of investors in Singapore have reduced their discretionary spending, and 57% have reduced spending on essential items. In addition, 47% have reduced how much money they save.
That said, most Singaporean investors (86%) said they remained invested in the markets throughout the coronavirus outbreak, and a large proportion said they plan to increase their asset allocation as a result of the pandemic, with 40% saying they would allocate to equities and 25% in unit trusts or investment funds.
Singaporeans demonstrated the highest level of confidence in their own savings out of the four markets surveyed, with 48% saying they are confident in their savings sufficiency.
