By Hal M. Bundrick
NEW YORK ( MainStreet)--The wealthiest investors in America are still playing it safe, but more are considering a re-entry into equities, according to Spectrem Group's monthly survey measuring the confidence and outlook of affluent households.
The firm's gauge of investment confidence for households with more than $500,000 in investable assets remained unchanged in June, standing at a 12-month high attained in April. Meanwhile wealthier investors - those with $1 million or more in play -- expressed a more positive outlook in the market.
Both groups of affluent households said they would be moving off the sidelines."While there was a significant increase in preference for safer cash investments, there was also a slight increase in interest in stocks," wrote Donald Liebenson for Spectrem. "This may be a reflection of investor uncertainty not seen since last December and the impasse over the fiscal cliff." Liebenson noted that the latest survey was taken before the market sell-off following Federal Reserve Chairman Ben Bernanke's comments at the Federal Open Market meeting earlier this month indicating that the central bank could start to slow its monthly bond purchases later this year.