Only 6% of wealthy investors with $500,000 or more in investable assets characterize themselves as enthusiastic about investing, while a full 49% are either reluctant or tentative about returning to the market, PNC Wealth Management found in its sixth annual Wealth and Values Investors’ Outlook survey of 1,046 investors.

However, affluent investors were evenly split on their outlook for an economic rebound, with 40% expecting the economy to remain stagnant for another full year, and 51% anticipating improvement within the next six months. Among the ultra-wealthy, the outlook is slightly dourer, with 52% foreseeing the economy remaining stagnant for another year.

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