The Malta Independent 17 December 2018, Monday

Most people who invest do so for retirement and for a rainy day

Friday, 7 December 2018, 12:41 Last update: about 9 days ago

Most people who invest do so in order to either save for retirement or for a rainy day, an investment survey by the Malta Association of Small Shareholders shows.

Attending a press conference detailing the results, finance Minister Edward Scicluna said that many Maltese have large amounts of cash in hand, highlighting the importance of investment to keep money moving. The use of cash, he said, is only a step up better than a barter system.

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He said that the key is to find a balance between saving and investing. He highlighted the risk of cash in relation to money laundering and tax evasion, and said that from an economic point of view the best option is an agile transfer of funds. Government will consider what measures it will take to gradually discourage the use of cash, he said.

The study in relation to investors was conducted through a sample of 2,500 investors. It found that the first thing Maltese investors seek is security, prior to considering profit. It found that most people invest for retirement and for a rainy day, and that the majority invest locally in bank accounts and bonds, keeping till maturity.

More than half of respondents seek advice prior to investing from banks and insurance brokers.

This was the first time such a survey has been conducted.

Speaking at the event, Chairman of the Malta Stock Exchange Joseph Portelli said that the stock exchange will soon introduce Bond indices, and also said that the total return index on the exchange has been positive.

 


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