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Although they deem the investment returns generated in 2011 to be poor and their confidence in the financial system remains severely dented, a vast majority of bank clients, especially those of private banks, are very satisfied with their banking relationship. These are the findings illustrated by a representative survey of high net worth investors from Switzerland and Austria carried out in spring 2012.
Against the backdrop of the continuing financial crisis, the majority of private banking clients remain risk averse and hold the bulk of their portfolio in cash. Blue-chip equities, whose yield potential is judged to be the most attractive compared to most other asset classes, remain the second most important asset category. As was the case back in 2010, many private investors have diversified their portfolio poorly, with heavily-weighted domestic investments and currencies representing a major cluster risk.
As far as returns are concerned, the most common objective for 2012 is inflation-adjusted capital growth whereas the avoidance of losses is a comparatively low priority. The most important expectations that private banking clients have of their bank is transparent and understandable advice, which they hope will help them generate a better return on their investments.
You will find additional information and the LGT Private Banking Report 2012 (german) in the attached files.