By Oliver Smith on Friday 13 August 2021
Close to a third of the investment platform’s 350,000 customers are women, and their risk appetites are increasingly outpacing their male counterparts.
Investment app Chip has analysed the investment choices of its 350,000 customers and found that several investment stereotypes clearly no longer hold true.
Of its investors, 27 per cent (or just shy of 100,000) are women, that’s 17 per cent higher than the national average, and Chip believes it is also far greater than many other investment and share trading apps.
Simon Rabin, the CEO of Chip, said the fintech believes “that everyone should have access to tools that can effortlessly take their savings to the next level and help grow their wealth. This includes levelling out the playing field, which has traditionally skewed male.”
“We want to show that investing is no longer an elite, exclusive world dominated by dusty legacy wealth managers or macho crypto-trading ‘bros’.”
Chip’s female customers are also increasingly choosing green, ethical and emerging market investment options, with BlackRock’s MyMap 5 Select ESG Fund being the second most popular fund chosen.
Men meanwhile had Chip’s “Cautious” fund (Blackrock Consensus 35) as their most popular pick, while women’s most popular pick was the higher risk “Balanced” fund (BlackRock Consensus 60).
The top five funds among Chip’s female customers are:
While the top five funds for its male customers are:
While Chip’s customers are hardly representative of the wider population, given they’ve self-selected to sign up to an investment app, the data is still brilliant to see.