According to the Fidelity International "2026 Global Investor Survey", more than half (54%) of Hong Kong investors have over half of their wealth invested in cash, with over a third (35%) of it kept in cash savings. Investors may face risks of not achieving their long-term financial goals, highlighting a gap between expectations and actions, specifically between investor confidence and return expectations, and the actual investment portfolio allocation. The research found that the high cash allocation by investors is mainly due to practical considerations. Most investors in the Asia Pacific region cited keeping emergency funds (43%) as the main reason for holding cash, while investors in Taiwan (28%), mainland China (23%), and Hong Kong (22%) stated that they are waiting for better market opportunities, and 16% of Japanese investors prefer holding cash because they do not want to bear the risk of loss. However, this cautious investment approach is in stark contrast with investors' expectations for returns. Hong Kong investors expect an average annual return of 8.8% over the next five years, with only half of those surveyed in Hong Kong expressing confidence in achieving their financial goals, which is lower than the Asia Pacific region (64%) and global average (65%), reflecting a gap between return expectations and actual investment allocations. Fidelity International's Managing Director for Retirement and Personal Investment Business in Hong Kong and Executive Director for Hong Kong, Chen Yuxin, stated that to narrow this gap, investors need to have a clear understanding of the relationship between risk and return, as well as how asset allocation can impact investment outcomes. Investors should ensure that their investment portfolios align with their long-term goals, and return expectations should be adjusted according to the actual allocation.