SIMON BROWN: I’m chatting with Siyabulela Nomoyi. He’s a quantitative portfolio manager at Satrix. Siya, I appreciate the time today. You put out a recent post around Millennials and Gen Zs and their investing habits.
SIYABULELA NOMOYI: We looked at the data from our online retail investment platform, which is the SatrixNOW that you’ve mentioned, and we saw that this cohort is quite optimistic when it comes to their finances and investments. So in head counts as well they make up around 56% of our tax-free savings accounts. So there’s definitely a good change there, showing that they invest more than any of the other age groups.
When looking at our investment channels, we have seen that 83% of registered accounts by millennials and Gen Zs are actually referrals.SIMON BROWN: The good old-fashioned word of mouth, which is about the best sort of marketing. Any sense what they’re buying? Obviously, they’re buying ETFs; it’s an ETF platform. Are they looking local? Are they looking offshore? Is it a blend?
SIMON BROWN: I wouldn’t have assumed that at all, but that is great news. Are they remaining long term? It’s one thing to put the money in; it’s another to resist the temptation to draw it out for one of many different reasons. Are they broadly leaving the cash invested and letting it use that benefit of time?
SIMON BROWN: I take your point. If we look at the last couple of years it’s been tough. We came out of the pandemic, we’ve got interest rates at not record, but at high levels. We’ve got high inflation. It’s commendable that they can find the money, but I suppose it’s realistic that life’s going to throw you a curve ball and this is one access to cash that they have.
SIYABULELA NOMOYI: Correct. We always mentioned that it’s not about timing the market, it’s also about time in the market. So the earlier the better, and also just staying invested for a long term. So it’s quite important to start early and get more information on investments so that you can invest for the long term.
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