Rich Irish ‘don’t diversify assets’

Wealthy Irish people have the least diversified portfolio of assets than their counterparts in any of the other 17 countries surveyed as part of Barclay’s Wealth Insights report.

The study shows that just 36% of this country’s “high net worth individuals” (HNWIs) — comprised of entrepreneurs, business leaders and investors — are invested in a geographically diverse portfolio.

Similarly, Irish respondents to the survey indicated a far greater preference for holding their wealth in domestic banks and assets, with just 30% opting for external financial institutions, as opposed to a European average of 50%.