Almost half of the world's wealthy investors and business owners expect to maintain their stock portfolio at the same level for the next six months, according to a study by UBS.
While only 46% expressed optimism about the short-term economic prospects for their respective regions, 70% of respondents were optimistic about the long-term outlook.
"Ninety-six percent of investors worldwide say COVID-19 has affected their lifestyle in some way, with more than half mentioning practicing social distancing, avoiding crowds, and refraining from travel," UBS Wealth Management Divisional Vice Chairman Paula Polito said in a statement Wednesday. Governments and central banks around the world have deployed unprecedented fiscal and monetary stimulus packages in a bid to shore up their respective economies against the anticipated fallout, as prolonged shutdowns hammer demand and economic activity.
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