The Investor Mood Index is a research that seeks to determine and analyze the behavior and knowledge that banked people have regarding the investments in 3 countries of the Pacific alliance: Peru, Colombia and Chile. This study revealed that the 3 countries have a medium “investment mood”, with some important variables between them, since some are more cautious.
The Investor Mood Index improves for Peru this year, ceasing to be the last of the group as it happened in 2021. Peru’s index rose from 40 last year to 43 this year. This improvement, although small, is mainly due to an increase in indicator 1 of the index, which is related to more perceptual and attitudinal variables, for example: greater confidence in their income, the perception of their current situation and the way of investing. . And it is that, although this year has been a challenge for Peruvians in terms of macroeconomic variables, it seems a little more politically stable than 2021.
From the information collected, it was observed that 26% of people in Peru believe that their income will increase in the next 12 months. For their part, Peruvian women are the ones who think to a greater extent that their income will increase (R/Aumentar: M: 24% vs. M: 28%). Regarding the volume of people who consider that their income will be reduced, Peru also shows slight optimism, reducing one point and going from 28% in 2021 to 27% in 2022. In this group, adults between 35 and 44 stand out, who are the ones who more suspect that their income may be reduced.
Regarding the investment intention in the next 6 months, although more than half of Peruvians (59%) believe that it is at least “somewhat probable” invest in the short term, this percentage has decreased since the last measurement (2021: 64%). The most optimistic group reaches 23% who consider it likely or very likely to invest. In contrast, although more than half of Peruvians (59%) believe that it is at least “Something probable” invest in the short term, this percentage has decreased since the last measurement (2021: 64%). There are more men who will not dare to invest (R/Impossible and Unlikely: M: 46% vs. M: 37%).
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Despite the above, Peruvians show a positive evolution over their current situation compared to the previous year. The 2021 index showed that the main financial situation was “getting out of debt”. This year, the most frequent financial situation in Peru is: “saving”, which can be interpreted as a symptom of better personal finances. Women describe themselves in said financial situation to a greater extent than men (M: 20% vs. M: 26%). On the other hand, 23% of Peruvians, in general, identify themselves in situations of “investor mode”, either by creating a company, investing or expanding assets; increasing by 3 percentage points compared to 2021.
“After knowing the perception of Peruvians regarding their intentions to invest, we show that in relation to the previous year there is a significant increase in interest in investing in the real estate sector, going from 12% to 22%. However, the main investment destination for Peruvians, which reinforces their entrepreneurial spirit, would be in a business (54%); which is a much higher percentage than Chile (37%) and Colombia (31%). In third place, the investment intention is aimed at investment financial products such as: stocks, the stock market, mutual funds, among others (11%).”, says Valdemaro Mendoza, CEO and co-founder of tyba.
How do Peruvians invest?
The Investor Mood Index, developed by tyba, indicates that close to half of Peruvians, Chileans and Colombians do not have any type of investment. In the case of Peru, 53% of those surveyed continue without having any investment. This is accentuated in the case of women (M: 50% vs. M: 57%), despite the fact that they are the ones who are projected to invest the most in the short term. “One of the ways to reverse this is to educate the population to improve their personal finances, showing them all the options that exist in terms of investment alternatives, channels and benefits, as well as explaining how investments are a tool that help to comply with goals made easier”, indicates Mendoza.
The study analyzed the ownership and interest in financial products to understand the behavior of Peruvians. The savings account is the main financial product of Peruvians (86%). The difference between holding a savings account and a credit card widened (39% to 56%); This is because, as in Colombia and Chile, the penetration of credit cards was reduced. Regarding the holding of financial investment products, Term Deposits and Voluntary Contributions for Pension Funds are the most common. The most certain thing is that the holding of term deposits has grown given the increase in interest rates by the BCR.
Regarding interest on financial investment options, Term Deposits continue to be the favorites with 49%, followed by Shares (both international and local), and in third place in interest are corporate Bonds. There was also a growing interest in acquiring other types of products such as Cryptocurrencies and Mutual Funds. However, at a general level, there is a great lack of knowledge about the different investment alternatives among Peruvians.
In the last measurement, Family and Friends occupied the first positions as sources of information on finances and investments. On this occasion, they lose relevance and leave social networks leading. This year we see the growth of other sources that provide more professional content in this regard, such as Apps, Financial Institution Advisors and Independent Advisors. Likewise, the options of online courses, educational institution, financial coach and study group are more popular among those under 34 years of age.
Another of the results of the study carried out by tyba showed that Peruvians are more dependent on traditional banks for their investments. More than ⅔ are loyal to banks, finance companies, savings banks and cooperatives, which are the institutions with which they have the most contact. For its part, the Society of Stock Brokers and Fund Administrators appears as a fourth option for Peruvians, which may indicate that there are more access barriers to these channels than in the other two countries.
When it comes to finance, diversification is the key to getting it right. In the case of Colombia and Peru, there is an increase in people seeking to diversify their investment geographically. In the Peruvian case, those who say they have their investments exclusively abroad increase from 3% in 2021 to 7% in 2022.
Finally, regarding the goals that Peruvians set to invest, the first option this year is: Anticipate unexpected situations (2021: 36% vs. 2022: 46%). While the less attractive goals this year are: sports and hobbies, travel and buying a car or motorcycle. Investing in assets that can generate returns have goals for the long or very long term.
“The investment spirit in general in Peru shows some progress and it is important to capitalize on it by making tools available to people to help them make financial decisions. At tyba we believe that technology is a great facilitator to achieve this by making available to thousands of people a range of multiple options to put their money to work. The mobile application gives people access to investments from low amounts, its main objective is to democratize investments and turn them into a healthy habit to achieve goals. The findings of this study allow us to better understand our target audience and measure the progress and contribution of fintech in the investment spirit of the region”indicates Valdemaro Mendoza, CEO and Co-founder of tyba.
