Most people in Britain still consider investing in shares to be riskier than hoarding their extra cash in a savings account, according to new research published today.

A MORI survey for the London Stock Exchange found that nearly two thirds (64 per cent) of British people have yet to be convinced that shares are a better form of investment than savings accounts in the long term.

However, those that do invest in shares seem to be holding on to them and want to buy more within the next 12 months, MORI said.

During the past 12 months, 61 per cent of existing British shareholders did not sell any of their stock portfolio.

More than half (53 per cent) said they had held on to their shares for four years or more, with the average period being between six and seven years.

And their appetite for shares is growing.

More than two-thirds of existing shareholders said they had bought more shares on at least one occasion in the past 12 months, with 72 per cent saying they expected to top up their portfolio within the coming year. The survey also revealed that owning shares was no longer a male preserve, with ownership now split almost equally between men and women.

The Internet was also revealed as a potential major factor in getting people to buy and sell shares in Britain. Almost half (42 per cent) of those questioned by MORI said they would consider using the Internet for share trading.