'Market confidence up' among wealthy investors

Private wealth holders are more confident in the market than they have been at any time in the last three years, a new survey has revealed.

US research company Spectrem Group's Millionaire Investor Confidence Index rose seven points in December to end the year at seven.

It means investment confidence among the wealthy is at its highest since December 2007, when the index stood at eight.

"America's wealthiest investors appear hopeful that their lingering economic concerns will ease as we move forward into the new year," Spectrem president George Walper remarked.

Meanwhile, the company's Affluent Investor Confidence Index - for households with assets worth more than $500,000 (£322,000) - remained unchanged at minus eight.

Under a quarter of affluent venture capitalists saw the political landscape as the biggest threat to achieving their financial goals, compared with 28 per cent of millionaires.

A recent survey by the Association of Investment Companies found over nine out of ten fund managers believe markets will rise in 2011.ADNFCR-2318-ID-800319128-ADNFCR