29/06/2016
Italian investors are rather conservative, according to Natixis GAM
p { margin-bottom: 0.25cm; line-height: 120%; } Italian retail investors tend to prefer bonds, with a preference for the Italian and European markets, the first barometer of Italian portfolios carried out by the Portfolio Research and Consulting Group (PRCG) at Natixis Global Asset Management has found, after an analysis of 74 ‘moderate’ model portfolios supplied by Italian financial advisers and private bankers between 1 April 2015 and 31 March 2016. With a proportion of 41.7%, bonds remain the largest component in Italian portfolios. Due to low interest rate levels, the barometer finds a decline in exposure to government bonds, in favour of bond securities which offer higher returns, such as high yield, and other asset classes such as equities and alternative investments. With an average equity exposure of 21.8%, moderate Italian portfolios appear more prudent, particularly compared with similar portfolios in the United Kingdom, where the weight of equities comes to about 50%. Italians have a clear preference for the local market, with about half of the equity allocation invested in Europe, and the rest distributed between US and Japanese equities and emerging markets. Multi-asset class, lastly, represents 20.3% of portfolios, while alternative investments represent 13%.
