Rich families hoarding cash: Citi

...
Wealthy families have about 39 percent of their assets in cash, according to a recent poll of more than 50 large family office representatives from 20 countries conducted by Citi Private Bank.

Stocks represented about 25 percent of portfolios on average. Bonds were about 17 percent of the asset mix and various classes of less liquid and alternative investments amounted to 19 percent.
...
The families were also asked if U.S. stocks were more likely to rise or fall 10 percent over the coming year. Some 65 percent expected a gain.

"What does this all suggest?" Wieting asked. "In our view, under-invested bulls."
...
Citi is more bullish than its clients.

Click to expand...