Austrians Clueless About Stock Market?
Every second Austrian feels poorly informed about securities. 30 percent estimate their knowledge as satisfactory while 20 percent believe they are well informed. DiePresse reports.
This trend is what emerges from a survey commissioned by Erste Bank, which surveyed 900 Austrians. According to the survey, Austrians are more familiar with riskier securities such as stocks than with less risky investments, such as government bonds or mutual funds.
The biggest deterrent for Austrians – when it comes to investing in securities – stems from the intrinsic risk associated with those investments as well as from bad, personal experiences.
83% of Austrians Seek Security First
83 percent of Austrians surveyed see themselves more as security-oriented investors. Only a minority of 13 percent classify themselves as risk-conscious, however. 78 percent of Austrians get their information about securities from their personal banker and 71 percent from the media.
When it comes to securities, respondents are primarily attracted by the possibility of higher potential gains in comparison to low returns, which are more typical of standard investment vehicles.
Securities are seen in a more positive light by the the Viennese and Lower Austrians while the the Styrians and Tyrolese have a more negative prospective of those investments. The main reason for the negative perception is primarily the fear of capital loss.