The study analyses the composition of Italian households' portfolios from 2010 to 2023 using both Financial Accounts data, which enable the evaluation of trends over the entire period, and granular information from the Survey on Household Income and Wealth (SHIW) conducted between 2010 and 2020. It also examines investment trends in life insurance products and individual savings plans (PIR).
Between 2010 and 2023, the weight of direct investments in bonds decreased, while that of managed savings products, including investment in life insurance, increased. The share of assets held in deposits remained broadly constant. According to the SHIW, reallocation of financial assets was widespread among all types of households in the period 2010-2020, and was more pronounced among wealthier households and those residing in large cities. Investments in individual savings plans (PIR) remained limited.
