Millionaire investor confidence rose in March, according to the Spectrem Group monthly survey, though confidence among affluent investors declined.
The Chicago research firm announced Wednesday that its Millionaire Investor Confidence Index rose four points in March to minus-six, the index's eighth-consecutive "neutral" reading. It came after a one-point decline in February.
Meanwhile, the Spectrem Affluent Investor Confidence Index, which measures the outlook of households with $500,000 or more of investable assets, fell two points in March to minus-12.
The index now stands in mildly bearish territory, down from neutral in February.
"The nation's wealthiest investors expressed mixed opinions on the investing environment in March, with millionaires growing slightly more confident, although at a neutral level for the eighth straight month, while the broader affluent population saw a small decline in its investment confidence," said George H. Walper, Spectrem's president. "With the economy and political climate remaining paramount concerns, there is little to suggest that either millionaires or the affluent will grow terribly excited about investing anytime soon."
The Spectrem Affluent Investor Confidence Index is based on 250 monthly interviews with the financial decision-makers in households with $500,000 or more of investable assets. The Millionaire Index is based on a subset of the overall group.
