the role of financial education – Corriere.it

41.6% of Italians are unable to distinguish between shares and bonds and 40.9% do not know the effects of inflation on the purchasing power of income. These are some of the data from the fourth Assogestioni-Censis report, The hidden inconsapevolezze of Italians, which will be presented on the third day of the Savings Fair (scheduled from 16 to 18 May at the Allianz MiCo in Milan) and which The Economy able to anticipate. Numbers which, in confirming what has emerged from international surveys – notes Alessandro Rota, director of Assogestioni’s research office – and the fact that Italy occupies the last positions in the financial literacy rankings, have prompted Assogestioni to put financial education at the center of this thirteenth edition of the Salone. The association of asset management companies has also created, in collaboration with Will Media, a financial education project aimed at young people with the aim of generating attention and awareness on the major issues of modern times (details will be revealed on the third day of the show).

Promote the culture of savings

Improving financial literacy is everyone’s goal. It affects all geographies, all ages and all income groups, so much so that it has been included as a specific target of objective 8 of sustainable development of the United Nations, called Decent work and economic growth. The context of polycrisis remains complex and the need to promote the culture of savings remains an objective that the asset management industry shares with the institutions. The data from our annual observatory tell us that almost 12 million Italians entrust the management of their savings to mutual funds – Rota points out -, testifying that our industry can make an important contribution to improving the country’s financial skills. Investing in a fund, in fact, is in itself a basic act of financial education, because one learns, at the very least, what risk diversification is and that asset management is a professional activity. If you then invest through small installment payments, the so-called Pac (today 40% of investors do it, especially young people), you experience the fundamental value of planning. But the industry has also had the ability to assist and accompany savers in the most complex moments, such as in 2022.

The growth of managed savings

Despite the strong volatility on the markets, the geopolitical uncertainties, the inflationary pressures and the restrictive monetary policies of the central banks, the Italian asset management industry confirmed its growth trend, closing the year with positive net inflows of 14.86 billion euro and total assets standing at 2,212 billion. In 2023, in a context that remains challenging, the industry aims to further strengthen its social role, as well as to contribute to the relaunch of the economy and its transformation into a new economic context, not only through the identification of more effective investments, but also with financial education as a tool to support families and the productive fabric of the country. In a reality with a high rate of change, having a compass to orient yourself in the new market context becomes essential. This is why the role of asset management will be at the center of the thirteenth edition of the Savings Fair which, in such a complex phase, can guarantee the necessary support to the savings chain and the stability of the economic system.