A new survey from Spectrem Group finds that nearly half of investors surveyed with $25 million or more in investible assets are expecting returns of 9 percent or more. More than a quarter are expecting returns of at least 11 percent.
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Among younger investors, the expectations are even higher. One in six rich investors under age 55 expect returns of more than 13 percent.
The survey polled 196 individuals in June to July with net worths of $25 million or more. The overall margin of error is 6.97 percentage points.
George Walper, president of Spectrem Group, said wealthy investors generally have been getting better returns than retail investors because they have more money in alternative investments—especially private equity funds, which have generated much stronger returns in recent years.
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The investors surveyed have an average of 29 percent of their investable assets in these alternatives, which is more than the 28 percent they have in stocks.
"I can't imagine they'll get those high returns on their whole portfolio, but on the alternatives side of their portfolio, that's possible," Walper said.