Mass affluent and millionaire investors remain pessimistic about the near-term economic outlook, according to a survey by Phoenix Marketing International, but the results were a tad better than compared to the rest of this year.   

Around 60% of mass affluent households have a negative near-term economic outlook compared to 66% a year earlier. Almost 29% said they would increase their investment in the next three months. This is an increase of five percentage points over what was reported in the July edition of the survey. In contrast, 41% of millionaire investors said they would increase their investment in the near term.

The Phoenix Marketing International Global Wealth Monitor tracks changes that mass affluent and millionaire households nationally anticipate to make to their investment portfolios in the near term (three months). The survey responses were received from around 1165 respondents.

The respondents were divided in two groups, affluent investors and the millionaire household. The affluent investors are defined as anyone with investable assets of $250,000 to $999,000, while the millionaire households are investors with investable assets of $1 million and above.           

Both groups said they continued to invest in retirement accounts. The results showed a strong momentum in retirement planning investments. Stocks and alternative investments declined as a source of new funding for both the groups.