The investment accounts of Italy and Sweden that have been successful to attract the money from the savers

Although the intention to create a Panaeuropea label for savings instruments It aims to boost investment at a time of strong financing needs in Europe, several countries have long opted for creating special fiscal conditions for those who invest in companies of their respective markets. And the results show success since its implementation.

The most recent model, and has served as a mirror for Spain, is the Italian. In 2017 the Piani Individici di Risparmio (PIR) came into operationan instrument aimed at natural persons that allows an annual investment of 40,000 euros per year with a maximum of 200,000 euros, in which at least 70% of the investment must be made in titles issued by Italian companies, of which 30% should not be quoted in MIB 30, the main index of the transalpine country, to favor the liquidity of the smallest companies. And can be invested up to 10% in titles of a single company.

The advantage of investing through a pir is the Tax Fiscal Exemption On capital gains, on income obtained, as dividends of assets included in these accounts, and in the inheritance tax for investments in bonds and shares of Italian companies. The minimum permanence time is five years and, if you withdraw early, the fiscal advantage can be maintained if it is reinvested in another instrument within 90 days. They have been so successful that they have reached a volume close to 20,000 million euros, and have their version for alternative assets.

More trajectory have ISK accounts (From the Swedish researchsscarkont, which for twelve years has allowed 3.5 million people, a third of the population, have a long -term investment instrument that have an average amount of 26,400 euros. Its operation is based on a quarterly taxation scheme that falls on the whole account, in which deposits, actions or investment funds can be included fixed for fiscal calculation that has only been adjusted twice to maintain neutrality.

However, the success of these accounts is due to a long process of decades of financial education in which the introduction of this account has been the culmination, apart from the evolution of various long -term investment mechanisms that have allowed about 500 companies in the last decade to have been contributed in the stock markets of Sweden, a figure that exceeds the sum of incorporations of this type in the bags of France, Germany, the Netherlands and Spain, according to a report prepared by BME Why do investment and capital markets grow in Sweden?where it also highlights that 90% of the contributed companies in the Swedish market have a capitalization below 1,000 million dollars.

Another model in which to set is the British Isa, the acronym for individual Savings Accounts, which were created 26 years ago to favor long -term savings in exchange for tax exemptions. There are two types of accounts, one more conservative, composed of deposits, and a more risky one, which allows investment in shares. The high weight of the first, with 18 million savers and 300,000 million pounds sterling volume, is taking the Labor Government to rethink a change that allows reducing the exempt volume fiscally from 20,000 to 4,000 pounds and thus favoring the investment in domestic capital markets.

Passive management boom

This interest of European governments in promoting the most productive investment occurs at a time of rise of passive management in the old continent, in the heat of the revaluation of the American stock market of the last decade due to the thrust of the great technological values, and the ease of hiring that the new platforms or neobrókeres have.

In fact, More than two billion euros of assets handled by ETFs in Europe, 75% corresponds to quoted Variable Income Funds, according to data from LSEG Lipper. Of this percentage, they are precisely those of Variable income of the United States and Global Stock Exchange The subcategories that monopolize the greatest patrimonial volumeswith 558.4 billion euros in the case of the first and 376.6 billion in the case of the second. That is, there has not been until any interest in the actions of European companies.

This passive management growth is mainly due to Germany. Not only through direct hiring of ETFs but of the so -called investment plans, which have popularized a lot among Germans, to the point that ETF hiring through digital platforms has reached a volume of 168,000 million euros24.4% more than last year, while the heritage invested in savings accounts has grown by 11.4% to 15.6 billion.