Rich prefer long-term investment

Source: Xinhua | 2019-05-28

High-net-worth Chinese, over half of whom were born in the 1960s and 1970s, prefer long-term, sound investment strategies, according to a study of their clients by Ping An Bank and Ping An Securities.

The study found that clients with more than 2 million yuan (US$290,000) in assets were more focused on investment options with stable returns, with 41 percent of assets devoted to fixed-term wealth management products and 29 percent in current accounts, implying that high-net-worth investors pursue sound investments as well as asset liquidity.

Ping An noted that private equity products made up around a fifth of assets held by its rich clients, suggesting that some will transfer funds to professional institutions to invest in the capital market in addition to their own stock buying.

Over half of the group in the study chose to put less than 10 percent of assets into stocks while around a quarter kept more than 80 percent in the equity market, the study found.

Also, more than half of Ping An Bank’s super-rich private banking clients are female.