The Covid-19 pandemic has served so that, For the first time since 2009, the percentage of savers in Spain who invest with a conservative profile falls below 50%. Today, these investors stand at 49%, while moderates rise ten percentage points since 2015, up to 43%and the dynamic or riskiest are at 8%.
It is one of the conclusions drawn from the seventh Savings Barometer of the Inverco Observatory, a survey that has been carried out by the company Front Query among more than 1,400 people.
44% of Spanish savers have increased their savings level, showing a greater savings capacity in the case of the older generations. Specifically, 35% of private savers have channeled that savings through deposits despite the fact that their yields are anchored at 0%; 13% in investment funds and 9% in pension plans.
Funds continue to gain popularity in this context of ultra-low interest rates, but at a slower pace than deposits, which continue to attract money flows. Thus, 40% of Spaniards save through funds, which marks a new record, and ranks as the third investment option, behind deposits (86%) and pension plans (54%).
As a result of the health and economic crisis, having a unforeseen surplus grows as the main reason to save, from 30% in 2019 to 38% in 2021before completing retirement (which, curiously, with the lower tax benefits of private pension plans has decreased from 25% to 24%) and growing the capital without a specific purpose (from 26% to 21% in two years).
The profile of the Spanish investor
The profile of the fund saver in Spain corresponds to a man, more than 50 years, which has a moderate investment profile (56%), invests thinking about the long term (more than three years) and has its investment spread over two or three funds from the same management company. What he values most when investing in this product is security, which comes before profitability.
However, despite the fact that the conservative profile already accounts for less than 50%, the truth is that almost two thirds of fund savers (65%) have not changed their investment profile with Covid-19. Even 22% take fewer risks than before, reveals the survey.
On the other hand, 17% have funds with environmental, social and corporate governance (ESG) criteria in their portfolio, although 52% still do not know about them. Going forward, six out of ten would invest in these sustainable funds if the returns were equal to or higher than other funds.
“You can always improve the marketing and advice of funds, but the important thing is that it is the financial investment product that is most marketed in entities, the one that has the most regulatory requirements, that has a very low volume of claims and that customers are becoming better profiled”, has defended Ángel Martínez-Aldama, president of the Inverco Observatory.