Green energy dominated millennial investing in 2019
Millennials investments in 2019 were dominated by the green energy companies, according to the data from Freetrade.
Freetrade’s study that covered 80,000 investors in the UK found that it was a remarkable trend among young clients to have invested in green investing. Of the top 10 most popular stocks and exchange traded funds (ETFs) on the Freetrade app, four operated in the green energy industry.
"Our overwhelmingly millennial customer base has invested heavily in ESG [environmental, social, and governance] stocks, with over 20% holding green energy stocks today. That's a big jump from the 4.6% we saw earlier this year,” Adam Dodds, chief executive and founder at Freetrade, said.
"We see this as a win-win situation. Investment in green energy is positive for the environment and for investors that stand to make substantial gains from this nascent industry.
"The growing push for action over climate change isn't just confined to the political arena.”
AUTHOR
Oksana Patron
Recommended for you
A financial advice firm has been penalised $11 million in the Federal Court for providing ‘cookie cutter advice’ to its clients and breaching conflicted remuneration rules.
Insignia Financial has experienced total quarterly net outflows of $1.8 billion as a result of client rebalancing, while its multi-asset flows halved from the prior quarter.
Prime Financial is looking to shed its “sleeping giant” reputation with larger M&A transactions going forward, having agreed to acquire research firm Lincoln Indicators.
An affiliate of Pinnacle Investment Management has expanded its reach with a London office as the fund manager seeks to grow its overseas distribution into the UK and Europe.
