SINGAPORE - Investors in Singapore and elsewhere had grown cautious even before the US imposed new tariffs on goods entering the country, noted a new report.

It found the proportion of investors around the world who say they were investing more conservatively this year rose to 28 per cent, compared with 20 per cent in 2024.

The shift underscored mounting unease over global volatility and fragile economic sentiment in the run-up to US tariff changes that threatened trade flows. 

The findings from Avaloq wealth insights 2025 – based on data collected in February and March – also showed an increasing desire to build precautionary buffers against rising market uncertainty. 

The number of people investing to help fund major future expenses jumped to 47 per cent this year, more than double the 18 per cent in 2024.  

Retirement planning has become more pressing everywhere, with 58 per cent citing it as their main objective, the report said.

Looking at Singapore, the study said there is growing interest in cryptocurrency and digital asset investment. Traditional financial institutions here are well placed to capture this, but investors still need reassurance before diving in.

The report showed 26 per cent of Singaporean investors currently hold crypto assets, trailing 39 per cent in the United Arab Emirates, 37 per cent in Switzerland and 30 per cent in Hong Kong. 

Only 17 per cent of crypto investors in Singapore access digital assets through their traditional financial services provider, underscoring a gap between appetite and institutional offering.

Mr Vibhooti Chaturvedi, regional director for South Asia and Australia at Avaloq, a banking software company that is owned by Japanese tech firm NEC, said crypto adoption is tempered by a lack of knowledge and low trust in existing exchanges.

“This presents a massive opportunity for traditional financial institutions, as they have a trusted relationship...