RaboPlus Investment Study Finds Women More Cautious Than Men
Women investors are twice as likely to own investment property, perceive themselves as risk averse and consult more widely than men, a study on DIY investors has found.
The study also revealed that women feel that making money is important and that wealth equals success while men invest for their financial future and to supplement their income.
Sydney, NSW (PRWEB) February 13, 2009 -- Women investors are twice as likely to own investment property, perceive themselves as risk averse and consult more widely than men, a study on DIY investors has found.
The study also revealed that women feel that making money is important and that wealth equals success while men invest for their financial future and to supplement their income.
The online study - conducted in late 2008 of 213 women and 289 men with over $150,000 in personal savings (including super and excluding physical assets) - was undertaken on behalf of RaboPlus, the online banking division of Rabobank.
RaboPlus' senior manager investments and managed funds, Tim Hewson said: "The study shows women are looking to take more control of their investments, particularly women aged over 40 years who are more likely than men to own a self-managed superannuation fund."
"They also appear to be more strategic in their investment approach than men, seek associated tax benefits, and want a full understanding of an investment before investing."
"Women are also more consultative than men and prefer face-to-face discussions when conducting their investment research. Men typically use the internet as their main source of information."
Mr Hewson said the preoccupation with property, however, meant that women are generally less diversified in their investments than men.
"And while women expect to earn returns that are 10 per cent higher than men, they are more comfortable with their existing investment portfolios," he said.
The key survey findings are:
| | - Women are 20 per cent more likely to use a financial advisor or consultant than men
- 54 per cent of women are more likely to own investment property compared with 46 per cent of men
- Women prefer investing in physical assets, such as property (30 per cent versus 15 per cent of men)
- Women aged 40 to 59 years are more likely to have a self-managed superannuation fund than men
- Tax benefits are more important to women than men (60 per cent compared to 52 per cent)
- Women investors will put more trust in past performance than men (57 per cent compared to 41 per cent), and seek a safe expected rate of return
- Women under 35 years of age expect returns of 13.6 per cent on investments, while women aged between 35 and 49 years expect the highest returns at 14.5 per cent, and women 50 years or over expect 11 per cent, while men of all ages expect returns of around 12 per cent.
- Both younger and older women are less likely to rely on the internet and more likely to consult more people compared with men, including financial advisors, family friends and accountants. Men are more likely to consult the internet as their primary source of investment information.
- Women are more likely to consult their partner or financial advisor - 58 per cent of women and 48 per cent of men. One in three men - (34 per cent) do not consult anyone, compared to 23 per cent of women. And women between 35 and49 years are more confident investing without consultation.
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Mr Hewson said that if surveyed investors were given a $500,000 windfall and asked to allocate to an investment portfolio, both women and men would reallocate funds from their super.
"However", Mr Hewson said, "women are more likely than men to increase their allocation to cash and property. Both men and women increased their allocation to managed funds.
"Women aged over 40 years are taking more control of their investments and starting self- managed superannuation funds."
The issuer of RaboPlus and its related deposit products is Rabobank Australia Ltd ABN 50 001 621 129 AFSL 234700. The IDPS Guide, and full Terms and Conditions relating to RaboPlus products are available on application or at www.raboplus.com.au.
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