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February 27, 2014updated 04 Apr 2017 2:28pm

February market sell-offs send affluent investors to sidelines: Spectrem

The volatility that has marked the New Year thus far is making Affluent investors wary of the market, according to a monthly investment preferences survey by Spectrem Group.

By Verdict Staff

The volatility that has marked the New Year thus far is making Affluent investors wary of the market, according to a monthly investment preferences survey by Spectrem Group.

When asked how they intend to invest in the short term, Affluent investors indicated they would hold on the sidelines. Non-Millionaires, especially, said they would hold off on investing in the coming month.

Among Affluent investors overall, "Not investing" as a response to the survey gained 11.32 points to 42.32.This is the biggest month-to-month gain in four months.

Affluent investors continue to prefer Stock Mutual Funds and Stocks as the investment vehicles of choice, but both categories saw declines in February. Stock Mutual Funds dropped 11.88 points to 31.29, basically unchanged from the reading one year ago. (31.3 points). Stocks, at 27.80, dropped 7.30 points from January. This is lower than one year ago when the reading was 28.2 points.

Spectrem Group further tracks Affluent investment preferences by Millionaire and Non-Millionaire Households. Millionaires, typically, are more likely to be engaged in the market than their Non-Millionaire counterparts. For example, "Not invest" among Millionaires was at 35.7 points, while among Non-Millionaires, this reading was 49.3, a gain of 9.5 points for the month.

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