More millionaires say they expect to invest in green technology over the next five years than in any other sector, according to Fidelity Investments 3rd Annual Millionaire Outlook.
The Fidelity study, which looks annually at the investing attitudes and behaviors of more than 1,000 millionaire households, found that more millionaires (28%) would invest in green tech within the next five years than in any other market. Fourteen percent said they'd invest in green during the next 12 months, ranking it third after health care and infrastructure.
Biomedical technology and financial services were the other two sectors where millionaires were more optimistic over a longer time horizon. Fifteen percent said they'd invest in biomedical tech within five years and 14% said they expected to do so in the next year. Eleven percent said they'd invest in financial services over the next five years, compared with 6% over the next 12 months.
Health care and infrastructure, on the other hand, were more attractive in the short term. Twenty-three percent said they'd invest in health care in the next 12 months compared with 16% over the next five years. Twenty percent said they'd invest in infrastructure in the next year, while 10% said they'd invest in the next five years.
For more on the survey, click here.