Among those investors who felt they were very well informed by their super fund, only 5% intended to or were considering switching funds, compared with 36% among those who felt they were very uninformed. A similar trend exists for investors in managed funds.
“Investors are calling out for frequent, candid commentary that clearly explains the impact of market events as they unfold and is made available through multiple channels. With one in four active managed fund investors considering switching managers and almost one in five active investors considering switching super providers, improving proactive and reactive communications has never been more important,” Wells said.
Unsurprisingly, there is widespread concern among investors about the financial crisis with 53% of respondents rating their level of concern as 8, 9 or 10 out of 10. Those most concerned are older investors with a lower income and larger portfolio.
Investment Trends principal Mark Johnston said: “Those with the most at stake and lacking the ongoing income stream to replace losses are the most worried.”
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