Affluent investors' confidence increased slightly last month, according to a survey by Spectrem Group.
The Chicago research firm said last week that its Affluent Investor Index gained 3 points to return to "neutral territory," from "mildly bearish" in January.
The February advance brought the index, which measures the outlook of households with $500,000 or more of investable assets, off its all-time low of minus-13. In January the index fell 13 points, the largest one-month decline in its history, putting it in mildly bearish territory for the first time since it was launched in February 2004.
In response to an open-ended question from Spectrem last month about the news story most affecting their economic outlook, affluent investors cited housing and real estate (23%), the political climate (23%), the economy (13%), rising oil and gas prices (6%), the war in Iraq (2%), and interest rate increases (2%). In November, the last time the question was asked, only 8% of investors cited the political climate, and 25% cited housing and real estate.
The Spectrem Millionaire Investor Index rose 1 point last month, to minus-5. The gain, which kept the index in neutral territory, came after a 14-point decline in January to the record low of minus-6.
When asked about the news story most affecting their outlook, 24% of millionaires cited housing and real estate, and 23% cited the political climate.
