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Millennials and investing: a detailed look at approaches and attitudes across the globe

The composition of investors in the funds industry is changing, with millennials poised to become an increasingly important client target market for asset managers in the next five to ten years. The millennials are a digitally astute demographic, without significant sums of money to invest.

As millennials entered full-time employment during or shortly after the financial crisis, wage growth has been subdued for many of them, leaving this demographic with less disposable income than the Baby-boomer and Generation Y cohorts. It is now imperative that asset managers acquire a better understanding of what this subset of the population needs, and ensure their strategies are closely aligned with those very same requirements.

Calastone surveyed more than 3,000 people aged between 23 and 35 across the UK, France, Germany, US, Hong Kong and Australia, asking them about their attitudes towards personal saving, investment management and financial services more broadly. The study identifies wider lifestyle choices and behaviours across this age bracket that may influence their relationship with saving and financial management.

The overarching objective of this study is to obtain a better understanding of millennials and their approaches towards personal finance, investment and money management. This report will provide some powerful insights as investment providers start to focus on providing for a new set of requirements from this expanding and evolving demographic.