Art has been billed as the asset likely to offer the best returns this year against a climate of ever-increasing investor uncertainty, a survey has shown.
A multiple choice question ‘What components of a diversified portfolio strategy will offer prospects of positive returns in 2012’ was posed to a group of 70 bankers investment managers and lawyers, with 50% choosing art in their top three choices.
The result pushed art well ahead of property, alternative investment funds and soft commodities.
Fundquest UK CEO and panel speaker at the conference, Antony John said he was surprised at the result, but that it showed investors were looking for lower volatility through wider asset diversification.
‘What is perhaps surprising is what is being considered with art and wine figuring more prominently than I would have predicted, a sure sign if ever there was one that sophisticated investors’ love affair with pure equity only strategies is well and truly over,’ he said.
‘The high level of uncertainty created by the Eurozone crisis which means that assets with intrinsic value are in increasing demand,’ said Caroline Garnham, founder and chief executive of Family Bhive which carried out the survey at a eurozone panel discussion it held with Fundquest UK.
‘People will always value beautiful works of art and see them as something they want to own as well as safe investments,’ she added.