Dubai: In the UAE, a staggering 84 percent of high net worth individuals and business owners take an optimistic stance on the state of their economy, almost unchanged compared to last quarter's results, according to UBS Global Wealth Management's new quarterly Investor Sentiment survey. Similarly, 81 percent of UAE investors are bullish on regional stocks.
By comparison, investors globally expressed much lower levels of optimism on their domestic economies and stock markets. Fifty-nine percent were optimistic on the domestic economy in the most recent quarter, and 55 percent expressed bullish views on local stocks.
Nevertheless, UAE investors remained reluctant to put money to work in the market, holding 21 percent of their assets in cash on average. UBS Global Wealth Management's Chief Investment Office recommends investors continue to put money to work in a diversified portfolio, holding a positive overall stance on stocks for the rest of 2019.
The survey, which polled more than 3,800 wealthy investors and entrepreneurs in 17 countries, shows UAE investors rank cyber security as one of their top concerns, with 48 percent of respondents seeing it as a major worry.
Cedric Lizin, Head of UBS Wealth Management Dubai, said: "Our survey shows clearly that investors in the UAE are among the world's most optimistic when it comes to their local economy. However, we believe it is now important to translate that optimism into actual market participation, as opposed to cash holdings."
Amongst global investors, the current trade war was one of the most prevalent top concerns, as cited by 46% of respondents – up 7 percentage points quarter over quarter – on par with local politics, also cited by 46% of respondents. Cyber security was the third most common worry with 43 percent.
About the survey
UBS surveyed 3,899 investors and business owners with at least $1M in investable assets (for investors) or at least $250k in annual revenue and at least one employee other than themselves (for business owners), from June 3 - July 6, 2019. The global sample was split across Brazil, China, Germany, Hong Kong, Indonesia, Italy, Japan, Malaysia, Mexico, Philippines, Singapore, Switzerland, Taiwan, Thailand, the UAE, the UK, and the US.
About UBS
UBS provides financial advice and solutions to wealthy, institutional and corporate clients worldwide, as well as private clients in Switzerland. UBS' strategy is centered on our leading global wealth management business and our premier universal bank in Switzerland, enhanced by Asset Management and the Investment Bank. The bank focuses on businesses that have a strong competitive position in their targeted markets, are capital efficient, and have an attractive long-term structural growth or profitability outlook.
UBS is present in all major financial centers worldwide. It has offices in 52 countries, with about 34% of its employees working in the Americas, 34% in Switzerland, 18% in the rest of Europe, the Middle East and Africa and 14% in Asia Pacific. UBS Group AG employs approximately 61,000 people around the world. Its shares are listed on the SIX Swiss Exchange and the New York Stock Exchange (NYSE).
UBS Investor Sentiment media relations contacts EMEA: Fabian Gmuender, fabian.gmuender@UBS.com , +44 207 568 8982
© Press Release 2019Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.
