Spectrum Group's monthly survey of affluent investors' sentiment declined to "neutral" from "mildly bullish," according to information released Wednesday.
Spectrem, a Chicago research firm, said its Affluent Investor Index fell to a level of 8 in July from 16 in June. Through June, the index had been "mildly bullish" since February. The index is based on 250 10-minute telephone interviews a month.
The measure of investment sentiment in U.S. households with $500,000 or more of investable assets reported its sharpest decline in six months and its second in three months.
Though 14% of affluent investors attributed their decline in confidence to the economy, job security, health, and the presidential election were each named by 10%. The stock market was mentioned by 9% and taxes by 4%.
George H. Walper Jr., the president of Spectrem, said affluent investors are growing more cautious.
"The range of threats suggests the affluent may be feeling particularly ill at ease, as several of these concerns, specifically job security and health, are almost completely out of their control," he said.
The Spectrem Millionaire Index, which samples affluent households with investable assets of $1 million or more, declined 8 points in July, to 15, but remained in "mildly bullish" territory.
