LATEST NEWS

October 31: World Savings Day

On October 31, in Algiers, the Algerian Minister of Finance, Abderrahmane Raouya, set up a National Savings Observatory on the occasion of the World Savings Day, celebrated in Algeria this year under the theme "Savings as the cornerstone of financial inclusion".

The same day, during a conference organized by the ABEF (Association Professionnelle des Banques et des Etablissements Financiers), Grégoire Naacke, director of the OEE, shared with the Algerian financial community the experience of the OEE that could inspire this Algerian observatory.

September 14: MIFID questionnaires, financial advice and investor behavior

On September 14, during a seminar hosted by Amundi, one of its founding members, the OEE presented the results of three empirical studies centered on the relationship between answers to MiFID questionnaires, actual trading behavior of retail investors, and the usage of professional advice by the later. The three papers use two databases of retail investors from which are known, not only the answers of investors to MiFID questionnaires, but also trades and portfolios of these investors over time. These academic works have been funded by the OEE in the context of its annual call for tenders.

The main findings of the studies are the following:

  • MiFID questionnaires answers relative to attitudes towards risk and towards losses are strong determinants of stock market participation;
  • Investors who answer the Suitability test in order to get additional advice, reveal their "appetite for information", and tend to invest "smarter" than others;
  • Investors who report high level of financial literacy in the questionnaires invest "smarter".

Marie-Hélène Broihanne, Professor at EM Strasbourg Business School and one of the authors of these papers, presented the academic results.

The presentation was followed by a round table chaired by Marie Brière, Head of Investor Research Center at Amundi and Affiliate Professor at Paris Dauphine University. Participants of the round table included Bernard Agulhon, Head of Regulatory Affairs at Amundi, Claire Castanet, Director of Investor Relations at the French AMF and Dorothée Sauloup, Global Head of Product Management at AXA IM. 

Read the presentation

August 23: Savings and financing of companies, an international lighting

The OEE, whose mission is to promote research on savings, its economic and social role and the factors likely to influence it, publishes a study entitled "Savings and corporate finance: an international perspective". This study is part of the proposals formulated by the mission led by MP Jean-Noël Barrot and Mrs. Alice Zagury on savings and corporate finance.

The main lessons of the study, concerning retirement savings products, are as follows:

  • The flexibility of the exit method is a key factor of attractiveness for savers;
  • Emulation between all categories of service providers should allow a fast start of a new product with a single brand;
  • We must strive to converge the characteristics of French products with those of the future "pan-European retirement savings product" (PEPP);
  • A contribution by the State of the contributions paid by the savers on an individual retirement savings product would be a factor of rapid diffusion of the equipment of the households;
  • Simplify and make pension schemes readable;

Measures could be taken to encourage new retirees to invest their statutory retirement benefits in a PEA or a life annuity.

The study also highlights some measures that could be taken in France, always inspired by the experiences of European neighbors, in order to:

  • Simplify SME access to public capital markets;
  • Relax the asset allocation rules of long-term investors; and
  • Improve economic and financial education at school.

Consult the study

March: Financial Education for the Elderly and Vulnerable

As part of the FinKit project on financial education, the OEE has prepared a fact sheet on the possibility of setting up a financial guidance service for low-income individuals.

This form can be downloaded from the website dedicated to the project. The site also contains the results of various works carried out by the partners of the FinKit project (CeRP, CECE, IPS of Sétubal, OEE, Ufficio Pio) or external actors (Municipality of Turin, Bank of Italy...) to encourage education particularly in the elderly.

Consult the fact sheet 

March 8: Breakfast debate on Corporate Finance

On March 8, 2018, the OEE organized a breakfast debate in the presence of MP Jean-Noël Barrot. This meeting was an opportunity for OEE members to discuss with the MP about the proposals of his report co-authored with Alice Zagury on the Business Financing Plan as part of the "Action Plan for Growth and Business Development"(PACTE).

This report contains 45 proposals, some of which related to savings. Some proposals will be incorporated into a draft bill that will be presented to the French Parliament in Spring 2018. The breakfast discussions focused on long-term savings and retirement savings. 

Read the Barrot-Zagury Report and the Exchanges summary

February 16: Robo-Advisors Added value and Risks

On February 16, 2018, the OEE organized a conference on "Robo-Advisors Added value and Risks". This conference brought together actors from the world of academic research and finance professionals.

Marie Brière (University Paris Dauphine, Amundi) reminded the challenges of Robo-advisors in an increasingly digitalized economy and in the presence of psychological bias of individual investors.

During this conference, Andreas Hackethal presented the results of his study on investors behavior in the presence of Robo-advisors, which was funded by the OEE during the 2016 call for tenders. The research was based on a sample of German investors robo-advisor customers. It turns out that robo-advisor reduces the behavioral bias of investors and increases the participation rate in the equity market.

Sébastien d'Ornano presented Robo-advisor Yomoni of which he is Executive President. He recalled the challenges of a new player in finance to bring new investment solutions to individual investors.

Jessica Mosher presented the results of studies published by the OECD "Robo-Advice for Pensions" and "Technology and Pension". The new Fintech players and Robo-advisors can provide solutions for retirement preparation thanks to a reduction of costs and a better accessibility of the services offered to individual investors.

Consult the presentations

NEWS 2017

NEWS 2016

<h1><a href="1085-1-News+2016.html" title="NEWS 2016">NEWS 2016</a></h1>

NEWSLETTER SUBSCRIPTION