Hong Kong investors have the highest risk appetite and investment knowledge, while Singaporeans are the most conservative in their investment approach, according to an LGT Group-sponsored study of high net worth individuals in Hong Kong, Singapore and Switzerland released today. One sign of a more conservative approach in Singapore is that investors there hold half their investable assets in cash, compared with one-third in Hong Kong and around a quarter in Switzerland.  “Cash is an asset class that risk-averse Singaporean investors usually perceive as a safe and attractive investment with minimal risks, providing generally high liquidity and akin to a safety net in these uncertain times,” said SMU Vice President (Business Development & External Relations) Associate Professor of Finance Annie Koh, who analysed the results.