This is one of the unexpected consequences of the Covid-19 pandemic: the emergence of a new generation of investors whose interests and expectations differ from those of longer-term investors, and who are suffering largely due to a lack of financial education. This is the main lesson of a study carried out by the Organization for Economic Co-operation and Development (OECD), at the request of the Financial Markets Authority (AMF), published Thursday November 9.
Based on a double quantitative and qualitative survey, the study shows that nearly one in four French people say they hold an investment in financial instruments or cryptoassets, and that half of this population, or 12% of adults, are have launched into financial investment since the beginning of 2020, thanks to the savings boom and the surge in time spent online observed during periods of confinement.
The vast majority of these new investors are men (64%), as among “traditional” investors (68%), and especially young people: 56% of them are under 35, compared to 21% among traditional investors. , and only 4% aged 65 or over (compared to 27%). Slightly more educated than the French population as a whole, they also mostly have slightly higher incomes.
Speculative stock products
But it is first and foremost through their investment choices that these newcomers stand out: cryptoassets are their financial product of choice (54% hold them, compared to 25% of older investors), ahead of life insurance. in euros (33%, compared to 47%) and retirement savings (29%, compared to 33%). These investors are also more familiar with crowdfunding products, speculative stock market products (turbos, warrants and options) and listed index funds.
These choices correspond to different investment motivations: even if profitability remains the main one, many also mention curiosity, the desire to learn or the taste for gaming. Nearly four out of five new investors play regularly or occasionally play games of chance, two thirds make sports bets and 58% bet money on poker or at the casino.
All products combined, this new generation also sets a shorter investment horizon than traditional investors: 43% aim for investments within five years, compared to only 14% of traditional investors.
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