The Italian model

Nope, I am not referring to any supermodel on the Victoria Secret catalogue traipsing down the catwalk. But now that I’ve gotten your attention with the accompanying photo, let me state outright that this blog concerns the praises the  Italians are getting as a people who are generally investment savvy.

While a recent report said that Filipinos have low access rates to the banking system, Italians gained approval from no less than the Financial Times in its July 8, 2015 issue. Said the paper:

“Italy’s elevated public debt may not be anything to boast about but its private debt is low and its wealth is easily overlooked. Italians have long been Europe’s most diligent savers.

“Bank of Italy data put household net wealth at €8.7 trillion in 2013 with property accounting for €5.8 trillion, financial assets €3.8 trillion and debt a mere €900 billion.

Talk about the Italians being investment savvy as FT noted that while “the advent of the euro ended their halcyon era of double-digit returns on government bonds, so they turned instead to mutual funds” while dabbling in other investment vehicles.

The Italians are known as risk-takers, something for which the majority of Filipino investors may not have the appetite for. However, it’s not all about the spunk too as FT gave away the ace the Italians are holding up their sleeves.

“Italian asset managers: In a class of their own,” read the FT’s banner head. Properly managed wealth – that’s all there is to it.                                        -end-

Image by The Mirror UK