Households in the Republic hold about 38 per cent of their financial assets in deposits and cash, rather than equities, debt securities and other instruments, the Central Bank said. Photograph: iStockInvestment is largely a pursuit for the wealthiest in Ireland, a new report from the Central Bank has indicated, with households here having among the lowest levels of direct participation in markets in Europe. According to the research, retail investors tend to be wealthy people in employment with a “higher level of educational attainment”, the Central Bank said. Colm Kincaid, deputy governor of the Central Bank, said the report suggests that households are not getting the full benefit of what financial services could do to help them provide for the future. Financial literacy is another key barrier, and the Government’s recently published National Financial Literacy Strategy must maintain a “focus on investments and pensions”, the Central Bank said.
