Female millennials embrace the stock market
Women have historically proved reluctant investors. A recent survey by Boring Money found that only 23% of women have investment products compared to 35% of men. Only 32% of women feel confident choosing an investment product, against 46% of men. The group said the amount invested overall by 18-36 year olds in ISAs is up an impressive 33%.
While women have traditionally been seen as risk-averse, The Share Centre survey showed the opposite, with 80% of the top ten purchased equities in smaller companies, including exploration company Echo Energy, oilfield services provider Petrofac and gold miner Centamin.
Having more women leaders may additionally be inspiring female investors. Indeed, later this month Royal Mail is set to join the FTSE 100 and Moya Greene being at the helm will take the total number of female-led companies within the index to eight.
Francesca Ecsery, non-executive director at The Share Centre, said, “It’s encouraging to see that female millennials are getting savvier and taking an increased interest in investing. The fact that there will soon be eight women at the helm of companies such as ITV, Kingfisher, Imperial Brands and Whitbread within the FTSE 100, could be a factor behind this confidence boost as the increasing visibility of successful women may encourage investors to participate in the market and share in their success. Long may this trend continue.”