Millionaires, while cautious about the stock market, favor technology and health care as the most attractive sectors in which to invest in 2014, according to a study by Spectrem.
According to the study, more than half (52%) of investors with a net worth between US$1 million and US$5 million (not including primary residence) surveyed over the fourth quarter of 2012 indicated an interest in investing in equities over the coming year.
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This is down from 55% in 2012. The highest percentage of Millionaire respondents (55%) said they are most likely to invest in checking/savings accounts, basically unchanged from the previous year.
When asked for the fourth quarter wealth level study in what types of companies or industries they would most likely invest, nearly six-in-ten (57%) of Millionaire investors indicated the highest likelihood of investing in the high-tech sector. This is up from 51% in 2012 who said they would in invest in technology stocks.
There was a slight increase in the percentage of Millionaires who said they would most likely invest in the healthcare industry, 53% vs. 51% in 2012. The pharmaceutical industry is a likely investment for 41% of Millionaire respondents, basically unchanged from 2012.
The other industries on Millionaires’ Most Likely to Invest In list are:
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By GlobalDataCommunications: One-third of Millionaires said they are likely to purchase communication stocks in 2014.
Real Estate: Twenty-five percent of Millionaires said they are likely to invest in the real estate sector over the next year. This is basically unchanged from 2012, but nearly double from two years ago when 13% indicated the likelihood of investing in real estate.
Financial Service: Twenty-one percent of Millionaire investors said they would invest in the financial service sector, a tick upward from 20% in 2012.
Construction: Millionaires also see a strong foundation in the improving construction industry. potential building in the construction sector. Eight percent of those surveyed in 2012 say they’re likely to invest in the sector, compared to 5% in 2010.
Among other sectors in which Millionaires are mulling over whether to invest in 2014, the automotive industry is up 2 percentage points from last year to 8%, while manufacturing (14%) and transportation (11%) are essentially unchanged.
