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World’s rich confident of scaling wall of global risk

LONDON

The global economic, financial and political landscape has never been shakier, but the world’s rich are confident they can steer through the fog of uncertainty in the coming year “without so much as a dent in their finances”, a survey showed on Wednesday.

The findings of UBS Wealth Management’s survey of more than 2,800 millionaires in seven countries show a high degree of worry about the global financial system on the one hand, and supreme self-confidence and optimism on the other.

Some 82 per cent of those surveyed said this is the most unpredictable period in history. More than a quarter are reviewing their investments and almost half said they intend to but haven’t yet done so.

But more than three quarters (77 pct) believe they can “accurately assess financial risk arising from uncertain events”, while 51 per cent expect their finances to improve over the coming year compared with 13 per cent who expect them to deteriorate.

More than half (57pc) are optimistic about achieving their long-term goals, compared with 11 per cent who are pessimistic. And an overwhelming 86 percent trust their own instincts when making important decisions.

Reuters