Confidence among affluent investors rose in August, according to Spectrem Group.
The Chicago research firm said its Spectrem Affluent Investor Index went up 4 points in August, to negative-13, its first gain since April.
The rise in the index, which measures the investment outlook of households with investable assets of $500,000 or more, brought it off its second-lowest level ever, the negative-17 registered in July and June. It remains at its third-lowest level ever, a mildly bearish reading it also hit in May, April, and January.
Meanwhile, the Spectrem Millionaire Investor Index fell 1 point in August, to negative-9, remaining in neutral territory. A 4-point rise in July brought the index off its third-lowest level, the negative-12 reached in June.
When asked what event had affected their outlook the most, affluent investors in August cited: increasing oil and gas prices (25%), election results (22%, versus 6% in May), the economy (12%), housing and real estate (8%), Russia's invasion of Georgia (4%), and the war in Iraq (1%).
Twenty-four percent of the millionaire group cited election results and 20% cited oil and gas prices.
Spectrem released the survey results last week.
