Australian investors are much more cautious and pessimistic about the future compared to their global counterparts.
Some 77 per cent of Australian investors describe themselves as somewhat or very conservative, with most of those motivated to ensure a comfortable retirement.
This was much higher than a global average of 59 per cent, a survey of 4,200 affluent investors in 20 countries by asset management group Legg Mason has found.
The group's global head of distribution marketing Matt Schiffman said Australian investors cared more about minimising risk than growing wealth.
"Australians, as an investor group, are less willing to consider risk as an option to grow their wealth and boost their income," he said.
"With a growing number of local investors either in or reaching retirement, focus has shifted towards protecting their assets in years to come, and avoiding big drawdowns in the event of a market decline."
Australians also are more downbeat about their future despite record low interest rates.
"Despite several years of healthy returns and strong economic growth, Australians are still not convinced that their investments are progressing as they want them to," Mr Schiffman said.
Just one in three Australian investors are willing to increase their risk tolerance to earn more income, compared with two out of three global investors, the survey found.
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