(April 24): Asia’s legendary savers are missing out on greater wealth by being too conservative, according to a study by Standard Chartered Plc.

An average of 39% of “emerging affluent” individuals in seven Asian countries rely on savings accounts to meet their top savings goal, while just 18% use investments in equities, according to figures in the survey released Monday.

“What came out in the study, which is surprising, is the conservative nature of many of the emerging affluent,” Karen Fawcett, Standard Chartered’s retail banking head, said in a phone interview. “We’re suggesting that with a little more advice, they could be making more money from their hard-earned savings.”

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