The proportion of affluent people who have suffered a decline in net worth is bigger in Singapore than in other regional countries, according to a poll.

Conducted across seven markets, the HSBC Affluent Asian Tracker survey showed that 56 per cent in Singapore had taken a hit to their purses, compared to 51 per cent in Taiwan, 49 per cent in Australia, 44 per cent in India and Japan, 36 per cent in Malaysia and 25 per cent in China.

China also rode out the turmoil well, with 46 per cent enjoying an increase in net worth, compared to 22 per cent in Singapore. Out of 1,500 affluent individuals aged 30 to 55 that were surveyed, 235 were from Singapore. Their income bracket was at least $6,000, and they had liquid assets of at least $200,000.

Despite having taken a hit in their net worth, a majority of those polled in Singapore - 61 per cent - are willing to accept the same level of risk as six months ago.

Investments were seen as the primary wealth-growing strategy over the next six months, followed by purchasing local property and starting a savings plan, the survey showed.

Currently, affluent Singaporeans hold cash, unit trusts, mutual funds, stocks and local properties as their major asset holdings.

'Investment plays a key role among affluent Singaporeans in their pursuit of wealth. Capital preservation remains a priority in the short term for many of the respondents but investment growth still remains a long-term goal,' said HSBC head of personal financial services Singapore Sebastian Arcuri.

However, the affluent have become more cautious in spending, with 94 per cent putting off spending on luxury goods and 79 per cent reducing expenses on dining out.

Family also remained important for the affluent, with 94 per cent maintaining their children's education plans. Singaporeans set aside the highest amount for each child's educational expenses overseas - an average of US$156,000 ($227,299).

This article was first published in The Business Times.