Wealthy women are more likely to put their money in alternative investments, such as private equity and commodities, than their male counterparts, according to a recent New York Life study. The study looked at high net-worth investors with at least $1 million to invest and already had alternative assets.
The study showed that women had a 27% allocation to the alternative sector, while men had a 20% allocation. Of the women who responded in the study, 52% said they held their investments in commodities, compared to 46% for men. The study also showed that 49% of women held stakes in private equity, compared to 35% for men. Both men and women had indicated that they have increased their allocations to alternative investments in the past year.
The researchers say that women maybe more interested in looking beyond traditional investments because they typically have longer life spans and need to save more for retirement as a result. While women traditionally tend to be more conservative when it comes to investing, this study indicates women are becoming more moderate.
According to Boston-based research firm Cerulli Associates, assets in alternative mutual funds are expected to double in the next year from 3% to 6%.
This Alternative Investing News update was provided by Vantage Self-Directed Retirement Plans. Alternative Investing News provides online alternative investing video news content and is a featured network of Sequence Media Group.