The lockdown caused by the Covid-19 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 y/y.
In Germany, France, Italy, Spain, Austria, and the US, total net asset purchases on the capital market increased. In Germany, by 35 percent and as much as 223 percent in Italy. In most of the surveyed countries, during the Covid-19 pandemic, the share of shares and mutual funds in new savings increased – Germany (from 15 percent to 24 percent), France (from 3 percent to 11 percent), Austria (from 20 percent to 25 percent). Only in the US, the share of stocks and mutual funds in new savings decreased, but total assets increased by 25 percent.
At the same time, 40 percent 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 percent) believe that low/negative interest rates will last much longer than previously expected. Only 10 percent expect them to increase and 31 percent 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.