Surprise in the Italian wallets. Not only BTP, 77% share risk

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Not only “BTP People”. Meanwhile, The Italians actually discover themselves much less prudent in the use of their savings. In addition. Furthermore. For example, most exposed to the equity risk than we could commonly think, even if indirectly and often in a not entirely aware way. However, To overturn the traditional vision of an investor faithful to government bonds. Moreover, at the same time wary of the stock exchange is a research conducted by the team Client Solutions. Furthermore. Nevertheless, Analytics of Pimco, which shows how 77% of the financial risk surprise italian wallets. not only new present in the portfolios of Italian families derives in practice from equity components.

The bond factor must be attributed only 10% of the volatility of the medium-long term yields to which the. investment complex surprise italian wallets. not only is subjected. while the remaining 13% is attributable to the illiquidity. This does not mean. however. that the analysis. conducted on the basis of the data of the financial accounts of the Bank of Italy, necessarily sanctions the end of a historic love against the fixed income.

The weight of the family business

Pimco in fact focuses attention on an element generally underestimated when referring to Italian families. their wealth. The entire financial assets would actually be composed not only by traditional asset classes. diversified financial products – mutual investment funds. bonds. surprise italian wallets. not only new listed shares, insurance and pension products, liquidity – but also, and in many cases above all, by the family business.

The latter. according to the calculations of the Management surprise italian wallets. not only Company. represents a quarter of the market value of the same financial portfolio. a share that rises to 37% for the most wealthy families of our country and is surprise italian wallets. not only precisely to be taken into consideration as a real share exposure. In other words. the real “stock heart” of Italian assets would not consist of Piazza Affari, but from the laboratory under the house.

While recognizing that it is a “precious asset from an economic. social. cultural point of view”. Pimco warns surprise italian wallets. not only new that from the point of view of the investment this kind of asset has a risk similar to that of private equity “Since the typical Italian family companies are private and small or medium surprise italian wallets. not only -sized, such as those in which funds usually invest”. And in support of this statement. analysts remember that “during the 2008 global financial crisis. the market value of these companies decreased by about 50%, a drop that required almost 15 years to be recovered”.