Investors are still keeping their cash levels high — but here’s what’s drawing them to stocks, UBS says

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Investors have kept their cash piles high in the pandemic, according to a UBS survey. But their optimism about the economy has risen over the past three...

Investors have kept their cash piles high even after markets and the economy strengthened in recent months, as many search — or wait — for the right buying opportunity in stocks, a UBS Group survey found.

UBS polled 2,850 investors globally, with at least $1 million in investable assets, from March 30 to April 18. The survey included investors who are not clients of UBS UBS, -1.04%, according to a spokesperson for the Swiss bank. Seventy percent of U.S. investors are optimistic about their local economy, rising from 52% three months ago, the survey found.Seventy-one percent of U.S. investors expressed optimism about the stock market, up from 59% three months ago. The U.S. stock market has risen to record levels this year, with the S&P 500 SPX, -0.02% and Nasdaq Composite COMP, -0.34% reaching new highs this week amid earnings season.

They’re focused as well on diversifying into areas that initially lagged during the pandemic — such as consumer discretionary, energy, industrials and financial services — but can “carry the expansion now and extend the rally,” said Ryan. Too much inflation would prompt them to move out of cash, according to UBS. Forty-one percent of investors would increase their holdings of stocks in such a scenario, while 31% told UBS they would add to their real-estate positions.

 

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