Number of people saving not increasing: Survey

A recent survey of New Zealanders' investment behaviour has highlighted some major issues for advisers and fund managers.

Tuesday, January 12th 1999, 12:00AM

A recent survey of New Zealanders' investment behaviour has highlighted some major issues for advisers and fund managers.
The SaverPlus survey, compiled quarterly by Research Solutions, says that the number of people saving isn't increasing (however those saving maybe saving more), likewise just a small percentage of investors are prepared to use advice. The third key feature of the survey is that investors still have some way to go to feel comfortable with managed funds.
Research Solutions research director Debra Hall says the proportion now seeking advice is down four per cent to 21 per cent from previous figures.

She says 79 per cent of all people report that they do not use an adviser, and when asked how likely they are to do so in the future, just 4 per cent feel very likely to do so.
The research also shows that managed funds haven't increased in popularity amongst investors compared to other investment options.
Since advice and investment in managed funds is inextricably linked, there is a need to provide more advice to investors.
Hall also highlights the fact that there is a larger market of people who acknowledge the need to save, but aren't getting advice and who are need reassurance about managed funds.
She says there is an awfully large market for anybody who is brave enough to go out there and get it, but she warns it's not the high net worth market.
The SaverPlus survey interviews 700 people each quarter, asking them about their attitudes to investment.
For a full report on the latest SaverPlus survey see the Features section.

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