iFund- Three angles to see millennial investment

2019-08-14 04:46
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Investors are not blindly convinced of technology companies. In the selection of financial products, investors still care about the quality of products. Long-term returns, fees, and transparency of corporate investment strategies are the most important factors for Millennials to select financial products.

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The millennial generation refers to the population born between 1981 and 1996. As these people stepped into the workplace and began to organize their families, their financial assets began to rise and they became an important targeted customer for financial companies. Recently, Calastone has counted more than 3,000 thousand people around the world to understand their investment. If you are a thousand people, or want to know the investment habits of thousands of people, the following will answer your investment puzzles.

Why are you entering the investment field?

Millennials have generally paid little attention to financial planning. How to configure leisure time to reflect the areas of interest of the millennial generation? Statistics show that travel holidays, social media and computer games are the activities that millennials are most willing to participate in during their leisure time. Financial planning and investment also lag behind catering and sports. However, the millennial generation of Hong Kong is more interested in investment than the global average, indicating that they are more willing to enter the investment field.

If investing is not an interesting thing for the millennial generation, is investment a required issue for them? The answer is yes. More than 91% of respondents have a habit of saving, while only 3% of Hong Kong millennial respondents have become use all their monthly income for spending. The primary goal of saving is first property, and for Hong Kong people, tourism holiday spending is also a large part of spending. If there is anything that can drive millennial investment, housing, travel, and retirement are three important wishes.

There are bound to be obstacles to starting new things, and what are the barriers to investment? For the millennial generation of Hong Kong, the inability to bear the principal of investment is the most common reason. It seems that throttling is the first step in investment. Hong Kong people are more willing to spend money in other places, and the lack of bookkeeping habits is an important reason why the millennial generation of Hong Kong has failed to enter the investment field.

How to start investing?

Millennials are no strangers to investment, and most people invest through banks and brokers. For Hong Kong people, Millennials are more interested in stock investment. In addition, as MPF allows more people to understand investment funds, the proportion of Hong Kong people holding fund accounts is also higher than other regions. Millennials also have clear goals for investment. Long-term value-added, earning income above the deposit rate and retirement planning are the reasons for the general opening of investment accounts.

Millennials will follow who advises to start investing? The results of the survey show that the results often start with family. Due to the high degree of bank penetration, it is easier for everyone to start their first investment from this channel. Millennials tend to choose companies with high trust to start accounts. After opening an account, how will Millennials start investing and allocate assets? Research shows that third-party financial advisors will be the first choice, and banks and the Internet will also affect. Expertise and information convenience will be factors influencing millennial investment decisions.

Which companies and services are favoured by Millennials

Millennials want to invest through the Internet, including accessing account information, completing transactions and online 24/7 on the Internet. However, the survey found that nearly one-third of people also talked with experts as the most favoured way to manage their own investment. This means that Millennials not only pursue convenience, but also hope to enjoy the offline services.

In terms of selecting investment platforms, rather than traditional financial institutions, Millennials are also willing to accept the financial platform of technology companies. Because technology companies have an advantage in distribution channels and comparative advantage of distribution costs, more than half of millennials are willing to buy financial products from technology companies or online retailers.

However, investors are not blindly convinced of technology companies. In the selection of financial products, investors still care about the quality of products. Long-term returns, fees, and transparency of corporate investment strategies are the most important factors for Millennials to select financial products.

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