Hong Kong women are a cautious bunch when investing money and become even more risk-averse once married. A recent survey portrays women as largely conservative investors, suggesting that they neglect a crucial sphere of personal interest and security.
These are the findings of Fidelity in its Women Wealth Management Study. It analysed the earning, spending and investing habits of women aged 24 to 54, who make up 30 per cent (about two million) of the Hong Kong population.
The average earnings for women of the age bracket are HK$17,000 to HK$19,000 per month, with nearly 30 per cent of married women earning more than their spouses. However, 86 per cent of women hold some form of investment, with individual stocks making up 78 per cent of the typical portfolio.
'The interesting part [of the study findings] was the investing style of women. They were much more conservative than we expected,' says Kerry Ching, country head for Hong Kong, Fidelity Worldwide Investments. Currently 60 per cent of family reserves are in savings and deposits, 19 per cent in stocks and the rest in other investments.
The study found that women perceive themselves as 'prudent, risk averse and informed investors', while seeing men as more knowledgeable and experienced in investments, and more impulsive.
'Almost 92 per cent of those interviewed said they put money into cash deposits,' says Ching. About 78 per cent bought stocks, but all other vehicles accounted for only 20 per cent, with an average of 2.5 investment products held each. 'Not a lot of diversity in holding one or two stocks,' Ching says.