Some investors are still haunted by the "lost decade," when zero was the S&P 500 index's return from 2000 to 2009, according to a new survey released Monday by the Institute for Private Investors (IPI). The survey's ultraâ€highâ€net worth respondents reported that they anticipated earning substantially less in their own portfolio in 2010 than the S&P 500's 15% return for the year.
Despite earning an average actual return of 20% in 2009, these investors reported that they expect less than half that in 2010, an average gross return of 9.6%.
The survey, which was conducted by IPI in December, is the first part of Family Performance Tracking, published annually since 1995. One out of five IPI member families completed the survey, more than a third of which oversee $200 million or more.
Continuing last year's trend, investor enthusiasm for global investments remains high, with 64% of respondents planning to increase allocations to global longâ€only equity. An IPI survey has reported a larger proportion intending to add to a strategy or asset class only once before, in 2006, when nearly three out of four respondents said they would increase their allocation outside their domestic market.
