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Article: African Americans invested less in stocks and funds over the past year. (Investing And Finance).
- Article from:
- Marketing to the Emerging Majorities
- Article date:
- August 1, 2003
CopyrightCOPYRIGHT 2003 EPM Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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More than six in 10 African Americans (61%) who earn more than $50,000 annually own stocks, reports Ariel Mutual Funds in its 2003 Black Investor Survey. That number represents a significant drop from 2002 when 74% of African Americans earning $50,000 or more annually invested in stocks and stock funds.
The bear market drove a "significant percentage of African Americans out of the stock market in favor of real estate and more conservative investments, including keeping money in cash," according to the report. The survey also includes White households earning more than $50,000 annually and shows that White stock ownership is at 79% in 2003, down only slightly ...