Mutual funds, investors are boomers and live in the North
The typical investor lives in the North, is over 60 and has average assets of 49,000 euro, which are actually concentrated in a few hands. Accumulation plans are on the rise
2' min read
2' min read
The 2023 identikit of the mutual fund subscriber drawn up by Assogestioni, the association of asset managers, outlines a precise figure: most investors are over 60 years old, live in northern Italy and have average assets of 49,000 euro.
The reality, of course, offers a more articulated cross-section of the mutual fund industry in Italy. Since the dawn of the mid-1980s, in fact, the range of products on offer has increased, thanks in part to the arrival of foreign houses that distribute through networks of promoters rather than only through bank branches. In addition, access has widened to a wider and less affluent public, with the possibility of gradual allocations.
Concentrated Heritage
.Mutual funds give the possibility to access financial markets, even the most complex ones, with a small sum, because the minimum investment can be a few hundred euros. In this way, they make it possible to diversify even small assets. In fact, an analysis of Assogestioni's data shows that the median amount of subscriptions (the one that divides observations in half) is just 13,000 euros. The average investment, however, is much higher, at EUR 49,000. This means that the assets are unbalanced towards a small portion of subscribers: a quarter of fund purchasers hold about three quarters of the total investment.
Geographically, there is a high density in Northern Italy, which boasts 64% of subscribers. This is followed by the Centre (19%), the South (12%) and the islands (5%).
The Ages of Savings
.The average age of the investor is 61 and boomers (those born between '46 and '64) account for almost half of the subscribers (41%), with average assets in funds of EUR 58,000. 16% of assets are concentrated among the older investors of the Silent Generation (born in the first half of the last century), who have the largest assets, averaging EUR 66,000. Generation Z subscribers born after 1997, on the other hand, are just 3% with an average amount of €13,000, while millennials (born between 1981 and 1996) make up 12% with €21,000 each.
