Amundi: Asians Less Likely to Hold Investments Digitally
While retail investors in Asia relied on online sources for all types of financial solutions, they were less likely to hold investments on digital platforms compared to global peers, according to a survey by French asset manager Amundi.
Retail individuals in Finland (95 percent), Brazil (89 percent), Sweden (89 percent) and South Korea (89 percent) invest at least part of their portfolio on a digital platform or app, according to a survey by Amundi entitled «Embracing the new Digital Norm», making them worldwide leaders in the category.
In contrast, the average in Asia was 74 percent with notably low digital engagement from investors in Singapore (69 percent), Japan (64 percent) and Thailand (46 percent). Adoption in Hong Kong (76 percent) and mainland China (percent) were relatively higher. The global average was 77 percent.
Online Advice
In contrast, 76 percent of investors in the region sought investment advice online, which was on par with the global average of 78 percent.
Social media was a major source with Asian investors tending to rely on digital influencers. Mainland Chinese investors were especially dependent on digital sources for investment decisions at 86 percent. Trust in social media for financial education and information is also higher in China (62 percent) compared to the Asian average (44 percent) with platforms like Douyin (67 percent) and WeChat (percent) leading the way.
The second edition of the survey was based on responses from more than 11,000 retail investors from 25 countries aged between 20 and 60 years old.
