Clear goals, but is the portfolio aligned?
European investors report clear financial objectives, including retirement provision, income generation and wealth transfer. Some 65% are confident they will achieve their financial goals, while expecting annualised returns of 7.3% on average over the next five years.
Average investable assets amount to approximately €169,000, including around €60,000 held in cash across savings and investment accounts. Cash therefore represents roughly one-third of investable assets among respondents. This mirrors a broader trend across the euro area. According to the European Central Bank, households across the euro area hold approximately €11.5 trillion in cash and deposits, equivalent to around one-third of total financial assets. For many investors, this means a significant share of their money may still be held in cash, even as they seek to achieve their long-term financial goals. The study identifies an aspiration-action gap, where investor confidence and financial objectives are not always matched by portfolio positioning in practice.
Asset allocation is only one aspect of portfolio construction. Diversification is another area where investor intentions and portfolio construction can diverge. While diversification is widely recognised as an important investment principle, many portfolios continue to display a degree of concentration and home-market bias. According to the study, more than half of investors' portfolios are allocated to their home market, highlighting a preference for domestic investments despite the global nature of investment opportunities.
What happens when markets get rough?
Periods of significant market volatility reveal differing approaches among investors. Asked about their most common course of action in response to significant market shifts or volatility, 25% of respondents globally indicate they would maintain their long-term investment strategy during turbulent market conditions. By contrast, 21% would pause further investments while assessing developments. A further 7% report that they would immediately sell assets in sectors affected by market disruption. These responses highlight the range of actions investors consider when faced with uncertainty, from maintaining existing allocations to reducing exposure.
The findings also show that investment outcomes are influenced not only by portfolio construction, but also by decisions taken during periods of market stress. Investor behaviour remains an important component of the overall investment experience.
Confidence starts with clarity
Confidence levels vary significantly across investor profiles. Among respondents with low risk tolerance, 35% report feeling anxious or overwhelmed when making a new investment decision, compared with 18% of investors with high risk tolerance.
Asked what would increase their confidence, 51% of European investors cite simpler and clearer information on investment options. Access to trustworthy information from financial institutions is identified by 46% of respondents.
Financial institutions remain the most frequently used source of information for investment decisions among European investors, cited by 39% of respondents, followed by professional advice. The use of artificial intelligence is also becoming part of the information landscape, with 21% reporting that they use ChatGPT or other AI tools when making investment decisions.
From ambition to action
For individual investors, the message is clear: having financial goals is only the first step. The next is ensuring that investment decisions, portfolio positioning and behaviour during market volatility are aligned with those goals.
Against this backdrop, helping investors access clear information, build confidence and translate long-term objectives into investment decisions remains an important focus for the investment industry.
Access the full report : 2026-be-invested-global-study-europe-version-may26.pdf
[1] Fidelity 2026 Be Invested Global Study. Survey conducted by Opinium between 12 February and 11 March 2026 among 13,000 investors across 13 global markets. Countries surveyed included Germany, France, Italy, the Netherlands, Spain, Switzerland, the UK, Hong Kong, Singapore, Taiwan, Australia, Japan and China.
Important Information
The value of investments and the income from them can go down as well as up so you may get back less than you invest. Performance is not a guarantee for future results. It is essential to carefully assess your objectives and tolerance for risk before making any investment decision.
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Solène Garnavault
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