Most Malaysians have set new financial goals to tackle inflation and economic difficulties, according to Standard Chartered's Wealth Expectancy Report 2022.

Illustrative image (Photo: https://www.thestar.com.my)

The survey showed that Malaysian investors cited inflation (40%), an uncertain global economy (28%) and the threat of recession (23%) as their top concerns.

To outpace inflation, 53% of Malaysian investors were looking to reduce their cash holdings, compared to 61% of global investors in the survey.
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Standard Chartered predicted that global cash allocations will fall from 26% in 2022 to 15% in 2023, indicated by investor responses.

As many as 52% of the global investors expect to increase their sustainable investments in 2023, the report said, adding that 49% of the investors in Malaysia have indicated they will also do so.

The report examined the shifts in investment decisions for more than 15,000 emerging affluent, affluent and high net-worth investors in 14 markets, including Malaysia, along with the resulting movements in major asset classes.

The survey results showed that 80% of the local investors had set new financial goals for retirement, keeping up with rising costs, holidays, and major life experiences.

The research revealed that 67% of the local investors still believe that digital assets are an essential part of any investment portfolio, compared to 62% globally, despite multiple setbacks in the market last year./.

VNA