Allianz Global Wealth Report 2024: Surprising relief

Against the backdrop of resilient economies and booming markets in the face of monetary tightening, global financial assets of private households recorded strong growth in 2023: With an increase of 7.6%, the losses of the previous year (-3.5%) were more than made up for. Overall, total financial assets amounted to EUR 239 trillion at the end of 2023. Growth in the three major asset classes was quite uneven. Securities (11.0%) and insurance/pensions (6.2%) benefited from the stock market boom and…

Against the backdrop of resilient economies and booming markets in the face of monetary tightening, global financial assets of private households recorded strong growth in 2023: With an increase of 7.6%, the losses of the previous year (-3.5%) were more than made up for. Overall, total financial assets amounted to EUR 239 trillion at the end of 2023. Growth in the three major asset classes was quite uneven. Securities (11.0%) and insurance/pensions (6.2%) benefited from the stock market boom and higher rates and grew significantly faster than the average of the last ten years. In contrast, growth in bank deposits fell to 4.6% after the pandemic-related boom years, recording one of the lowest increases in the last 20 years.