Allianz Global Wealth Report 2022: The last hurrah

Global financial assets grew by 10.4% to reach EUR 233 trillion, marking the third year in a row of double-digit growth. In these three years, private wealth increased by EUR 60 trillion, or two Eurozones. The strongest asset growth was seen in Asia ex-Japan, Eastern Europe, and North America, while Western Europe had more modest growth. The main driver of wealth growth was the stock market boom, which contributed about two-thirds to the increase. Fresh savings remained elevated, but fell by 19% in 2021. Bank deposits were the preferred asset class for savers, but securities and insurance and pensions also gained favour. Bank deposits grew by 8.6% in 2021, while insurance and pension fund assets showed weaker growth at 5.7%.
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