ASB sees turnaround in investor confidence 

Investor confidence is at its highest level in nearly two years according to ASB's quarterly survey.

In the September quarter, 14% of those surveyed are expecting a better return on their investment in the coming 12 months.

"There has been a huge reversal in confidence since March 2009...This rise in confidence has been greater than the level by which it fell following the world economic collapse in late 2008," ASB chief economist Nick Tuffley says.

However, there is uncertainty as to what form of investment will give the best return in the year ahead, though the survey does see peoples' appetite to accept a little more risk.

Tuffley says traditional safe havens such as rental property, bank savings and term deposits still top the list of where investors thought returns would be best, though their popularity had waned in the last three months.

Only 6% of respondents thought shares offered the best returns at the moment.

The survey also found investors with Kiwisaver as their main form of investment were increasingly positive about the future.

 

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