Swiss and Austrian investors remain risk-averse, higher returns are the primary client concern and the level of satisfaction with private banks is falling in Switzerland. These are a few of the key findings of a representative survey of high net worth individuals from Switzerland and Austria conducted on behalf of LGT Group for the third time in spring 2014.
Asset allocation for Swiss investors has changed little since the last survey. Despite the two-year bull market, cash weighting still stands at a substantial 29 percent in portfolios. On the other hand Austrian private banking clients became more courageous and showed increased interest in the capital markets. The cash proportion has reduced from 55 to 29 percent since 2012. On the other hand the confidence of Austrian private banking clients in the markets gradually returned and investment levels increased. Since 2012 the cash proportion has fallen from 55 to 29 percent.
Client satisfaction among Swiss bank clients has fallen over the past two years, but remains at a very high level: 81 percent of respondents said they were satisfied or very satisfied with their primary bank, compared to 88 percent in 2012. In Austria, on the other hand, the satisfaction score remained stable: just as in 2012, 73 percent again said that they were satisfied or very satisfied with their primary bank.
You will find additional information and the LGT Private Banking Report 2014 (german) in the attached files.