Table of Contents:
The investment environment in 2024
In 2024, security continues to be a priority for Italian investors, with 65% considering this aspect fundamental when it comes to investing. This cautious attitude, while understandable, has a negative impact on long-term returns and asset growth. In recent decades, managed savings have shown significant growth, rising from 73% to 102% of world GDP between 2005 and 2023. In Europe, the sector increased from 107% to 167% of GDP, while in Italy it grew from 70% to 95%, including insurance wealth
.
Results of the savings survey
A survey conducted by Intesa Sanpaolo and Centro Einaudi revealed that 17.2% of respondents own managed savings or social security products, with a clear male predominance (20.9% against 12.9% of women). Among the various instruments, mutual funds and SICAVs have registered a distribution of 13.8% in the last five years, while ETFs stop at 3.9%. Unit-linked policies primarily appeal to higher income groups and are particularly popular among entrepreneurs and
freelancers.
Investor Objectives and Challenges
The
main objectives of investors in managed savings include creating financial resources for retirement (39.5%) and optimizing savings (38.1%). However, despite satisfaction with managed investments, the number of those who believe they can beat inflation with these instruments is falling. Among those who did not invest in management, 59% said they did not have sufficient funds, while 15% did not receive attractive proposals. Only 5.4% prefer to manage their savings themselves
.
Supplementary pension provision and bonds
The most peculiar form of managed savings is social security, aimed at accumulating sums for the end of working life. Among the respondents who hold managed instruments, 22% joined open pension funds, while 19.4% chose individual pension plans. The survey also highlighted a correlation between the educational qualification and the propensity to subscribe to pension funds, with those with a lower educational qualification tending to subscribe to them more frequently. In 2024, the share of portfolios dedicated to bonds increased from 28% to 34%, with a satisfaction index that reached an all-time high
.
Alternative investments and liquidity
Despite the increase in interest in bonds, the percentage of those who invest in stocks has fallen slightly, from 6% to 5.6%. In addition, 71.5% of respondents say they are not interested in alternative investments, with precious metals remaining the most popular choice. Liquidity continues to represent a significant part of portfolios, even if a normalization process is observed. Investors still seem cautious, but return opportunities are starting to emerge in the financial landscape
.
