There are now over 280,000 millionaires living in the UK who are collectively worth over £1.28 trillion. That’s just over 1% of UK households. The research company CoreData identified individuals with more than £1m of liquid net assets. How do they invest? well according to the CoreData research results, about 34% is held in equities, 16% in Managed Funds and 34% in investment property (not their homes) with the balance of 16% in cash and low risk money market funds.

What does this mean? well possibly not very much. Certainly the data would suggest that these people do not asset allocate (diversify risk) very well at all and are likely to be subject to significant liquidity problems and would benefit further from some good advice in this area. Of course it may be that they are so astute that these are all short-term market “plays”. Indeed without knowing how the data was obtained and therefore its integrity I do wonder how many millionaires willingly give up information about their wealth and its sources.

The “average” level of wealth is about £4.5m, although this is due to the “ultra wealthy” who have more than £30m of net investable assets. Most millionaires (55%) are in the £1m-£2m bracket.
Source: CoreData Blog “I’m Alright Jack”
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