The pandemic has led to record declines in global economic activity, as disruptive forces push many businesses, industries, and individuals to the edge financially. This report from St. James’s Place Wealth Management Asia looks at how Singaporeans manage their money and how they take on board and use financial advice in building wealth and enriching their lives.
Key findings include:
Most Singaporeans are generally confident in investing and managing each asset class, but have the least confidence in cryptocurrency (62%) and managed funds (46%)
The Environment is the biggest concern for investors (43%), followed by social issues (32%) and governance (25%)
Diversification (19%), liquidity (18%) and risk levels (18%) are the three most important considerations for investors, reflected in portfolios intentions in the future
More than a third (38%) of Singaporeans have one stream of personal income
89% of Singaporeans admit that generating alternative sources of income is a priority in the next 1-2 years