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Top five reasons why affluent Singaporeans invest

Additional income (44%) is the number one reason why rich Singaporeans invest.

Rich Singaporeans are investing their money for additional income, costs of younger generations (39%), property (38%) and entrepreneurial activities (38%), an Avaloq study showed. 

The top fifth investment reason is saving for future personal health care costs.

Meanwhile, the most common method of investing is through advisory services (59%) and discretionary portfolio management (53%). Their investment approach is balanced (29%).

Singaporeans invest the most in stocks and equity (55%) and investment funds (40%).

Regarding investment consulting, 50% of rich residents of the city-state go to known investing figures/thought leaders for investment advice.

The poll covers responses from 3,000 investors aged 18 and above, including 500 each from Germany, Switzerland, the UK, Hong Kong, Japan and Singapore.

More than half (57%) of the respondents are wealthy, with assets ranging from US$250,000 to above US$1m. Whilst 37% fell in the high net worth (HNW) segment (with investable assets of US$1m to US$50m) and 6% within the ultra-high net worth (UHNW) bracket (with investable assets above US$50m).

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