If nothing else, the last two years have taught affluent investors and financial professionals that change is often unexpected, swift and brutal. But despite taking severe double-digit losses on their portfolios, affluent investors surveyed recently by HSBC still largely have the same portfolio allocations they did at the onset of the financial crisis in 2008.

In February and March, HSBC surveyed 2,044 affluent respondents in 11 major cities around the world. Americans suffered the worst losses, with 56% of those respondents saying the value of their portfolios had decreased. They did worse than the well-off in Paris, 55% of whom said they lost money; Toronto (46%), London (45%) and Sydney (37%).

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