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Millionaires over the world think they’ll live a 100 years, invest in health stocks

About 53% of the millionaires surveyed by UBS globally said they expect to still be alive at 100, while almost two-thirds consider equities to have the strongest investment opportunities for horizons of more than 30 years.

business Updated: Apr 21, 2018 14:26 IST
Abhishek Vishnoi
Abhishek Vishnoi
Bloomberg
Health stocks,millionnaires,healthcare stocks
Stethoscope with financial statement(Getty Images/iStockphoto)

The results are in: most millionaires in a recent UBS Group AG survey think they’ll live to 100 -- which may be why they’re picking health-care stocks as their favoured investment.

UBS sought the views of more than 5,000 people across 10 markets, each with at least $1 million in assets that can be freely invested, the brokerage said in a report published Thursday. Some 53% of them globally expect to be still alive at 100, while almost two-thirds consider equities to have the strongest investment opportunities for horizons of more than 30 years.

While they’re confident about their longevity, more than 70% of millionaires are worried that their health will deteriorate over the next 10 years. And that perhaps informs their preferred stocks to buy. Health-care shares are their most popular choice, with more than a third of those surveyed picking them as a sector with strong potential over the same period.

First Published: Apr 21, 2018 13:49 IST