Few wealthy investors increased holdings during meltdown, says UBS survey

New York

ONLY about 10 per cent to 15 per cent of investors took advantage of the recent market pullback to boost their equity allocations or put cash to work, according to UBS Group.

"We believe that this bull-market correction provides an opportunity," Michael Ryan, Americas chief investment officer, and Justin Waring, Americas investment strategist, wrote in a report discussing a UBS survey of more than 1,000 high-net-worth individuals and business owners.