UK-based high net worth investors are the most cautious in Europe, with more than a third of their portfolios invested in cash, a survey conducted by Legg Mason has found.
On average, older UK investors (aged 40-75) have cash weightings of more than 36% in their portfolios, in a bid to protect themselves from current market volatility, according to the 2016 Legg Mason Global Investment Survey. This figure exceeds that of any single country in Europe, as well as the European average of 28%. The survey, which polled more than 5,370 high net worth investors across 19 countries, also found UK investors had generally trimmed their allocation to risk assets to raise cash. The average exposure of older UK investors to real estate, for example, currently...
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