An educated generation is building their financial and insurance portfolios using convenient online applications
Tang Xingyi, 31, considers himself a “veteran investor.” She has a reason why she declared so. After college, she jumped into the capital market by purchasing several money market products. She has now managed her personal estate for nearly eight years.
With more than 1.5 million yuan ($212,338) of personal assets devoted to wealth management, the vast majority of Tan’s assets, 95 percent, are now invested in mutual funds purchased through online platforms. According to the product description, most of the products are characterized as “generating stable revenue”.
Tan has set ambitious short-term goals. This year’s investment income is 600,000 yuan, and the annual rate of return is a whopping 40%. An achievement almost no mutual fund manager could achieve last year.
“I know it seems very surreal, especially since the market has been so volatile lately,” laughed Tan. “But investing is one of my biggest interests. I will spend most of my spare time researching the market and making timely adjustments. is very important,” she said. she said.
“I hope I can earn enough money to retire at 40, so I can quit my job and live in a more comfortable place like Yunnan,” Tan said.
Tan is not alone. According to a February survey of more than 3,000 people aged 22 to 32 by the investment firm Invesco Greatwall, more than 90% of college-educated young people say that investing is their life plan. answered that it is essential.
According to the report, improving quality of life, protecting against possible future risks and being more comfortable in the job market are the three main reasons younger generations have started wealth management plans.
Similarly, in a survey released at the end of July by Tencent Research Institute, 66.7% of the 3,193 investors surveyed who were born in the 1990s or 2000s had purchased or owned some kind of wealth management product at the time of the interview. I answered yes. Another 18.8 percent who have not yet built an investment portfolio had such plans.
Research shows that younger generations are adopting a more cautious investment style as new investors. Nearly 70% of interviewees said they allocate only 30% of their assets for wealth management purposes.
Money market products are the most popular among the younger generation, with 79.2% of experienced investors having purchased such products. Term deposits are his second-most-chosen product, followed by stocks or stock-based mutual fund products.
As for investment targets, new energy, biopharmaceutical, Internet and semiconductor industries are attracting the most attention from young investors.
Younger generations, on the other hand, are making plans for their future. According to Tencent Research Institute, 32.6% of the young investors surveyed bought retirement wealth management products while still in their 20s or 30s.