Confidence among affluent investors sank in June, according to a survey by Spectrem Group in Chicago.
The Spectrem Affluent Investors Index, which measures the investment outlook of households with $500,000 or more of investable assets, fell eight points in June from a month earlier to minus-20, a mildly bearish reading.
The Spectrem Millionaire Investor Index fell 18 points in June, also to minus-20. This decline, the largest since the index was started in February 2004, came after three consecutive monthly gains and reversed May's record, 17-point increase. It returned the millionaires' confidence reading to mildly bearish territory, Spectrem said last week.
In response to an open-ended question about the severest threat to their financial goals, affluent investors cited: the economy (22%), the political climate (22%), market conditions (10%), unemployment (10%), inflation (8%) and health-related issues (4%). Millionaires expressed equal concern about the economy (27%) and the political climate (27%).