The Press and Journal (Inverness, Highlands, and Islands)

A third change course in cri­sis

- Business · Finance · Investing · Money Tips · Personal Finance · Infectious Diseases · Lifehacks · Health Conditions · United Kingdom

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.

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