Confidence falls
The latest ASB Investor Confidence Report showed nett investor confidence, the difference between those who thought return on investment would improve in the year ahead and those who thought it would get worse, had fallen by 9% points from +19% to +10% in the three months to December.
“I think it would be impossible for confidence to do anything but fall when we think about all the changes and uncertainties we had to deal with late last year,” ASB senior wealth economist Chris Tennent-Brown said.
“Sharemarkets both here and in the US peaked in September, but since then we’ve had a solid three months of negative news, and that’s showed up everywhere from the world’s sharemarkets declining through to KiwiSaver balances.”
Some respondents have become more pessimistic about the future return on their investments.
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