Wealthy Investors Shift More Money Overseas

Investors with $5 million or more to invest are increasingly moving their money overseas, for fear that the U.S. is losing its competitive edge, Dow Jones reports, citing U.S. Trust’s 2007 Survey of Affluent Americans. On average, these investors expect to gain 9.66% abroad, versus 8.85% in the U.S.

Although more than 50% believe hedge funds are good investments in regard to returns and managing market risk, about 75% said it is difficult to find or investigate a good hedge fund.

Asked about their main financial worries, they say the U.S. is losing its competitive edge, the budget deficit will slow the economy, the environment will require increased government spending, and taxes are poised to rise dramatically.

The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.