NewsWorldSlovaks have invested 1.5 billion euros a year. ...

Slovaks have invested 1.5 billion euros a year. It is a record, but it pleased only a few people (+ fund returns) – PRAVDA.sk

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The pandemic started the investment appetite of Slovaks. Last year, more than 1.5 billion euros of new investments flowed into mutual funds. It’s been more than three years before. More and more people have decided to value their savings on the financial markets. Nevertheless, there are many for whom the most popular “investment product” is a current account, where rising inflation eats their money.

Slovaks are still largely “banking nations”. Total household deposits increased by more than three billion euros, to 40.7 billion euros. But most of them only went to current accounts. Despite the broad campaign of the banks, it is still true that 4 out of 5 euros from Slovak savings are deposited in current and term accounts, where the average appreciation reaches 0.13 percent. In addition, Slovaks have one of the largest shares of financial assets deposited in current accounts in the countries of the European Union.

If we add to this the inflation at the level of almost six percent, then the real appreciation of deposits reached minus six percent. “Out of a thousand euros in the current account, inflation will cut around 50 euros a year. “After taking inflation into account, the investor will make money on bank accounts,” describes Andrej Rajčány from the investment company Across Private Investments.

Read more Survey: Up to 80 percent of Slovaks expect increased costs by tens of euros, many people do not expect salary growth

But the situation is slowly changing. Deferred consumption, low interest rates on savings accounts, high stock returns or the growing threat of high inflation. All the mentioned factors signed that Slovaks became more interested in investing. When it comes to investing, most people think of mutual funds. Through them, even an ordinary person can become a shareholder and own the share of any of the largest companies in the world. Or he can invest in other securities – bonds.

Investments in the 2nd pillar

People invested in the 2nd and 3rd pension pillars have a lot of money. The problem, however, is that more than 60 percent of people have invested in guaranteed funds that do not make a profit. get its settings.

In this context, last year’s winners are all those who have switched from guaranteed funds of the second pillar to the index. “Although 2020 offered a better opportunity, the move itself protected them from the loss achieved in bond funds. All those who, despite the warnings, remained with all the savings in banking products were defeated, because in addition to zero return, their savings were devalued by the highest inflation in recent years, “concludes Pavel Škriniar.

It was the second pandemic year that brought in an enormous amount of investment in mutual funds. More than 1.5 billion euros flowed into them. More than half of the investments went to funds with a higher risk-return profile. The average appreciation of Slovaks in mutual funds in 2021 reached 9.6 percent.

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