A recent study conducted by Audirep and published by the Autorité des marchés financiers (AMF) has unveiled intriguing insights into the evolving behaviors and preferences of new retail investors in France, with a notable emphasis on crypto-assets. The survey, which took place in spring 2023, provides a comprehensive overview of the emerging investment patterns, particularly since the onset of the COVID-19 pandemic.
According to the study, approximately one in four French adults (24%) are actively involved in investments in financial instruments or crypto-assets. This indicates a substantial increase in retail investment activity, with half of these investors having commenced their activities since 2020. This new wave of investors represents approximately 12% of the adult French population, with a striking 9% possessing crypto-assets.
The profile of these new investors is quite fascinating. They are generally younger, with an average age of 38, and demonstrate a distinct inclination towards digital channels for sourcing information and making investment decisions. A significant 65% of them hold crypto-assets and rely heavily on social media (68%) and influencers (41%) for investment information. This heavy reliance on digital platforms underscores the growing influence of online channels in shaping investment strategies.
Furthermore, the study highlights that 67% of those holding crypto-assets express satisfaction with their investment performance, compared to an overall satisfaction rate of 62% among new retail investors. This level of contentment is noteworthy, given the volatile nature of cryptocurrencies. However, the report also raises concerns about the overestimation of financial knowledge among these investors, especially young individuals aged 18 to 24 and those from lower socio-professional categories. Only 48% of new investors demonstrate an understanding of risk reduction through asset diversification.
The interest in crypto-assets is particularly pronounced among younger investors, with 63% of new investors aged 25-34 possessing crypto-assets, compared to just 25% among traditional investors. This demographic also tends to engage more frequently in gambling activities, both online and offline, indicating a higher risk tolerance.
Moreover, these new crypto investors, on average 37 years old, often exhibit financial confidence, with average financial assets of €117,000 and an average investment of €9,317. A significant 58% of them have invested in crypto-assets, and 70% are more inclined to consult a professional advisor before making investment decisions.