Allianz Global Wealth Report 2020

Never in the last ten years were we able to report such a big increase in wealth: Worldwide, gross financial assets grew by 9.7% in 2019, clocking the strongest growth since 2005. This performance is nothing but astonishing given the fact that 2019 was marred by social unrest, escalating trade conflicts and an industrial recession. But as central banks reversed course and embarked on broad-based monetary easing, stock markets decoupled from fundamen-tals and soared by 25%, lifting financial ass…

Never in the last ten years were we able to report such a big increase in wealth: Worldwide, gross financial assets grew by 9.7% in 2019, clocking the strongest growth since 2005. This performance is nothing but astonishing given the fact that 2019 was marred by social unrest, escalating trade conflicts and an industrial recession. But as central banks reversed course and embarked on broad-based monetary easing, stock markets decoupled from fundamen-tals and soared by 25%, lifting financial assets in the process: The asset class of securities increased by a whopping 13.7% in 2019; never was growth faster in the 21st century.