Savings and investments enhanced post lockdown
Our feature this week is a report from the newly merged Tilney and Smith & Williamson, who on the anniversary of their merger reports that its chosen purpose is to ‘place the power of good advice into more hands’ which it says ‘succinctly encapsulates the group’s central mission of supporting both individuals and businesses to achieve their goals’. The firm writes that it is also a marker of the group’s aspirations and ambition to reach a wider universe of clients as it continues to grow and develops new services that will be accessible to a wider cross section of the population.
The population seems to have a new love of saving and investment. New research from behavioural finance experts Oxford Risk reveals nearly four out of 10 people (38 per cent) claim to have more cash in their current and savings accounts than they would normally have because they have spent less during the Coronavirus crisis.
Some 15 per cent believe they have at least 10 per cent more in cash, and 7 per cent say they have over 20 per cent more.
Some of those with extra cash have invested it. Data from the European Fund and Asset Management Association (EFAMA) published week shows that net assets of UCITS and AIFs increased by 4.1 per cent in Q2 2021 – UCITS net assets grew by 4.5 per cent and net assets of AIFs grew by 3.4 per cent as they crossed the EUR20 trillion threshold. There was record breaking investment by European households - European households invested EUR55 billion in investment funds through Q1 2021, a number not seen since Q2 2017, EFAMA notes.
For the many who wish to invest sustainably, may I take this moment to invite you to join the audience at this year’s Responsible Asset Owners Symposium.
I will be moderating a number of sessions at the event this year, on 5th October and am happy to be able to offer Wealth Adviser readers a discounted ticket. Please use this code when booking: BCVIP25.
Beverly Chandler, managing editor, Wealth Adviser