Wealthy investors see lasting affects from pandemic
In the wake of COVID-19, three quarters of wealthy investors worldwide have concluded that life will never be the same again, according to a new survey by UBS, the world's leading global wealth manager.
According to the survey, which polled more than 3,750 investors across 15 markets globally, investors are already planning to adjust their lifestyle after the pandemic.
Seven in 10 will reduce travel and trips to the office going forward while half intend to move closer to family.
Forty-six percent may forsake cities for less populated areas and 88 percent say staying healthy is their top priority.
Also, 67 percent of investors say the pandemic has affected how they think about their money, the study noted. Overall, 83 percent of investors want more guidance than usual from their financial advisor on their financial affairs during the pandemic.
From a generational perspective, millennial investors surveyed were more inclined to say that the pandemic affected them financially and they were more concerned about their finances than older generations.
Regionally, Latin American investors are the most likely to see the world changing permanently after COVID-19, followed by investors from the US.
For Asia Pacific, 71 percent of investors in the region anticipate permanent changes as a result of the virus.
However, few Chinese mainland investors believe their old way of life will be changed forever. Fully 97 percent of respondents feel that they are in a good financial situation and 87 percent see volatility as an opportunity, higher than the global average (79 percent).
In light of recent stock market activity and the pandemic, Chinese investors are most interested in three concerns: planning for long-term health care, sustainable investing options that will help make a positive impact and the state of the country's economy.