At the end of 2013, overall wealth of Italian households it amounted to 9.615 billion euros, down by almost 1,5% compared to 2012. In comparison with 2010, households lost over 170 billion in wealth. Weigh the sharp decline in the value of homes, dropped by 400 billion in the last two years, which more than compensated for the increase in financial wealth.
In June 2014, the value of household financial assets it has approached 4 trillion euros; before the crisis it stopped just above 3.700. Over the years, Italians have changed their investment policies, adapting them to changes in the external context. However, some long-term trends have also emerged, only partially influenced by the crisis.
The deposits continue to represent a particularly sought-after instrument: during the years of the crisis, households invested over 100 billion euro of new resources in deposits, reaching more than 1.200 billion. The low level of interest rates, on the other hand, has led to households withdrawing from the obligations of financial and monetary institutions, which in the last two and a half years have undergone net disinvestments for 80 billion euro, while it has favored a renewed interest in mutual funds, with net investments close to 90 billion.
In recent years, there has also been a further containment of investment in government bonds. At the beginning of the 10s, Italians invested less than XNUMX% of their wealth in this type of product. Today, BOTs have practically disappeared from the wallet, while BTPs and CCTs represent only slightly more than 5% of the total. Households own only 10% of the more than 1.800 billion euros of outstanding Italian public securities.
Households, on the other hand, continue to pay constant attention to business financing, especially the small and medium-sized sector. The investment in unlisted shares and equity investments exceeded 800 billion euros. Small and medium-sized enterprises have always guaranteed a high return: in the last ten years as a whole, Italian families have allocated new resources for the purchase of unlisted shares and equity investments for 170 billion euros, collecting in the same period more than 1.100 billions in the form of withdrawn profits or income.
Attachments: Focus no. 01-07 January 2015.pdf
