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Lockdown temporarily changes habits in savings management

Analysis

The lockdown caused by the coronavirus pandemic changed people's saving behavior - more funds were diverted into stocks and mutual funds. The analysis of Allianz Research and Euler Hermes covering six countries: Germany, France, Italy, Spain, Austria, and the US showed a significant increase in the acquisition of net assets year-on-year, according to a report by the Warsaw Business Journal.

In Germany, France, Italy, Spain, Austria, and the United States, total net asset purchases on the capital market increased. In Germany, by 35% and as much as 223% in Italy. In most of the surveyed countries, during the pandemic, the share of shares and mutual funds in new savings increased – Germany (from 15% to 24%), France (from 3%  to 11%), Austria (from 20% to 25%). Only in the United States, the share of stocks and mutual funds in new savings decreased, but total assets increased by 25%.

At the same time, 40% of respondents in Italy, France, and Spain want to buy fewer shares after the pandemic ends than before. Only a dozen or so percent declare an increase in their involvement in shares.

Most respondents (59%) believe that low/negative interest rates will last much longer than previously expected. Only 10% expect them to increase and 31% do not expect any changes.

Despite the fact that the past year was marked by uncertainty on the markets, the majority of respondents would not like to expand the scope of their insurance cover so far. The Allianz Research and Euler Hermes survey shows that the pandemic does not appear to have a groundbreaking and lasting impact on investment decisions.

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