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Dashboard of retail investors active on the stock market: sharp increase in retail ETF activity in Q1 2024
29 April 2024

Dashboard of retail investors active on the stock market: sharp increase in retail ETF activity in Q1 2024

Each quarter, the Autorité des Marchés Financiers (AMF) provides an overview of the number of retail investors who have made at least one transaction in a financial instrument during the previous quarter. This dashboard presents data for the first three months of 2024 and shows the growing use of exchange-traded funds (ETFs) by retail investors over this period.

During Q1 2024, around 737,000 retail investors placed an order to buy or sell shares. This constitutes a very slight decrease compared with Q1 2023 (-1.2%). The data for the quarter shows that the number of retail investors who bought shares in Q1 2024 was on a par with Q1 2023, at 568,000. New investors, i.e. individuals making at least one purchase transaction during the period for the first time since 1 January 2018, are more numerous than a year ago (59,000).

The AMF noted a sharp rise in retail investors buying and selling exchange-traded funds (ETFs) during the quarter: the number of retail investors active in this type of financial instrument rose by nearly 36% as compared with Q1 2023, to 216,000, and the number of new investors more than doubled. In Q1 2024, the number of ETF transactions admitted to trading in Europe exceeded one million for the first time. The average age of investors in this type of product is falling significantly. According to the latest edition (No. 56) of the AMF Household Savings Observatory Newsletter, published on 15 April 2024, the average age of these investors, which was over 60 in 2018 and 2019, was 48 last year. In order to analyse this interest, which seems to be growing with each passing quarter, the AMF will publish the results of a survey of ETF investors later this year.

To compile this dashboard, the AMF uses detailed transaction data provided by French financial institutions, as well as the French branches of EU institutions since the entry into force of the European Markets in Financial Instruments Directive, MiFID 2, in January 2018. Investment services providers must indicate, in particular, the date of birth of the person placing an order for a financial instrument, the amount and the 'direction' of the order (buy or sell), as well as the type of financial instrument being traded.

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