A third change course in crisis

Nearly one-third 30% of UK investors have radically changed their strategies for the current financial year because of Covid-19, new research has found.

One-third (33%) plan to put more money into their savings accounts over the coming 12 months and in excess of one in five (22%) aim to buy more stocks and shares.

HYCM, an online provider of foreign exchange and contracts for difference trading services for both retail and institutional

“One-third plan to put money into their savings accounts”

traders, commissioned an independent survey of more than 900 UKbased investors – all with savings worth in excess of £10,000 – to find out how they are investing during the coronavirus crisis.

The most common asset classes invested in were cash savings (73%), private pensions (51%) and stocks and shares (44%). Least common were cryptocurrencies (20%), classic cars (21%) and social and impact investments (22%).

Despite the economic uncertainty, 36% of those surveyed were confident about managing their finances.

Nearly one-third (31%) believed they would emerge from the pandemic in a stronger financial position.