Non disponibile in italiano
Fabian Wagner
- 26 November 2025
- FINANCIAL STABILITY REVIEW - BOXFinancial Stability Review Issue 2, 2025Details
- Abstract
- This box examines the stabilising role of household investors for investment funds during market stress, with a focus on the April 2025 market turmoil. Households’ long-term investment strategies make them less sensitive to market volatility, which can enhance fund resilience. An analysis of the April 2025 market turmoil and other past market downturns reveals that funds held by households experienced smaller outflows than those dominated by institutional or foreign investors. Following the April 2025 market sell-off, households also reinvested more quickly, further stabilising fund liquidity.
- JEL Code
- D14, G11, G23, G40, G50 : Microeconomics→Household Behavior and Family Economics→Household Saving; Personal Finance