Mena investors more likely to move assets

A majority of investors in the Middle East are willing to move their assets to another provider in search of high yield over the next three years, according to a survey conducted by EY.

As many as 59% would be willing to make such a move, a significantly higher proportion than the global average of 45%.

The 2023 EY Global Wealth Research Report found that the willingness to spread their assets over a larger number of firms was non-asset class specific and also much stronger among younger investors, with 81% of millennials and 50% of Gen X investors intending to move their assets before 2026.

The beneficiaries of this trend are fintechs and AI-powered platforms, according to the survey

Consequently, wealth managers in the Mena region are also more likely to prioritise the enhancement of their digital capabilities in a bid to attract clients.

The survey also found that Mena investors have adopted a more defensive stance than their global counterparts due to the falling value of portfolios – 96% compared to 73%.

©2023 funds global mena

Related Articles