Singaporeans invest mainly at home compared to other investors around the world, revealed a survey of 4,320 investors across 20 countries, as reported in the media.
Conducted by Legg Mason Global Asset Management from December 2013 to January 2014, the survey found that 59 percent of Singaporean respondents are more inclined towards global investment opportunities, 16 percent less than the global average of 75 percent.
The survey also showed that Singapore money was primarily invested at home, with 80 percent of the overall sums invested within the country.
However, Lennie Lim, Managing Director and Asia Regional Head at Legg Mason, expects Singaporeans to “change in their approach towards investing overseas with a view to diversifying risk and improving their return on investment.”
Out of the 200 Singapore investors polled, 52 percent of those with no international exposure indicated that they would still consider investing overseas.
The study also showed that although Singaporean investors were more disappointed with their investment yields this year, they were among the most self-assured in the world. In fact, eight out of 10 are confident with their investing abilities, while only 35 percent engaged a financial adviser.
Seven out of 10 Singapore respondents ranked providing for retirement as their main investment goal.
“Our survey found that investors everywhere can, and should, do more to prepare for their retirement,” said Matthew Schiffman, Managing Director and Head of Global Marketing at Legg Mason.
Schiffman noted that some countries have social programmes aimed at helping the retirees.
For instance, Singapore has the Supplementary Retirement Scheme in addition to the Central Provident Fund (CPF), which may be used to purchase various investments such as unit trusts and stocks and can be deposited with banks.
Muneerah Bee, Senior Journalist at PropertyGuru, edited this story. To contact her about this or other stories email muneerah@propertyguru.com.sg
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