Investors losing confidence as Budget draws closer
IRISH investors are losing confidence in their finances ahead of the Budget, a new report has found.
According to the latest Investor Barometer from RaboDirect, some 26pc of investors are less confident now than they were three months ago – an increase of 9pc quarter on quarter.
Barely 48pc of respondents said they were "confident" about Ireland for the coming three months, compared with 52pc at the end of June.
People still have faith in the global economy, with 73pc of those surveyed expecting the global outlook to improve over the rest of the year – the same level as at the end of June.
Investors still favour stocks and shares, with 77pc saying they think there is value in that market. This sentiment is reflected in investors' preferred asset classes, with 57pc preferring equities and only 24pc keeping their investments in cash.
RaboDirect investment manager Killian Nolan said: "While Irish investors continue to be upbeat about the global economy, appetite for risk has fallen.
"This can be seen in moves by investors away from emerging markets and Asia, which appear to have outperformed recently and now face a less certain outlook."