Millennial women significantly increased the amount of investment into their UK tax-efficient products over the past year, research indicates.
The recent study by The Share Centre into investments in stocks and shares individual savings accounts (ISAs) offered on its platform showed inflows from women jumped 40% in value compared to the year before.
Female millennial investors on average invested over 20% more each year into their stocks and shares ISAs than their male peers. Using official figures, researchers found that women invested an average of £9,853 (€11,060) in stocks and shares ISAs in 2014-2015, compared to an average of £9,560 from men.
That was a difference of 3%, or almost £300.
The findings, however, did confirm that fewer women invested in the stock market than men, with women that did not invest citing the gender pay gap, risk appetite, lack of exposure to the stock market and time spent taking care of other household finances as reasons.
Richard Stone, chief executive of The Share Centre, said: “More women are now investing for their and their family’s financial futures, and particularly striking is the fact that when they do so they are typically investing more than their male counterparts.
“Over a lifetime of investing that will make a massive difference and could easily result in men being the ones left behind.”
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