Millionaire investors’ confidence rose for a fourth consecutive month in February to reach its highest level since spring 2004, according to a Spectrem Group index.
The Chicago research firm said Wednesday that its millionaire investor index gained one point last month, to 23, its highest level since June 2004. Since the index’s all-time low — zero last October — it has moved steadily higher, returning in November to mildly bullish territory, where it remains.
George H. Walper Jr., the president of Spectrem Group, said that millionaires and the broader affluent category are showing growing confidence in the investment environment but that the February advance was the smallest since the index began its rally four months ago. This suggests that “millionaires may be looking for a definitive sign of economic or market strength,” he said.
Spectrem’s companion index of the investment outlook of households with $500,000 or more of investable assets, also has risen consistently since October — posting its fourth straight gain in February, up a point to 13.
