The pandemic has played a crucial role in prompting a new wave of Gen Zs and Millennial Scots to join the 19% of their peers that already invest. For instance, over the past year, spending time with family and friends who invest has encouraged 24% of young Scots to invest or consider investing, while the extra time (18%) afforded by this period, and the savings generated (12%) as a consequence of lockdown have also played a part.

However, despite a huge proportion of Gen Zs and Millennials embracing investing, many still have concerns. A sense of being ‘out of their depth’ (15%) was the most common emotion felt by Gen Zs and Millennials when asked about their attitude toward investing over the past 12 months. The same proportion (15%) also felt more cautious due to the events of the last year, with a desire for professional expertise (14%) exposing the need for education and support from the investment industry to encourage future generations of investors.

In fact, almost 1 in 5 (19%) said they’d be encouraged to invest if schools and colleges had provided education on the topic, something F&C Investment Trust is working to improve through its annual Prize.

The F&C Investment Trust Prize, run in partnership with the City of Glasgow College, has, for three consecutive years, encouraged students to engage with the concept of saving and investing and given them a platform to showcase their understanding of these subjects.

Beatrice Hollond, chair of F&C Investment Trust, said: “It is encouraging to see so many young adults across Scotland becoming engaged with investing over the past 12 months, recognising investing as a crucial way to grow their savings, build financial resilience and help unlock their goals and aspirations.”

“However, alongside this newfound enthusiasm come feelings of uncertainty or trepidation. It’s abundantly clear that the investment management industry has a continuous role to play in ensuring people feel properly educated and prepared to make the right financial decisions today, to meet their future goals.”