A survey conducted by NASDAQ-listed FUTU Holdings has found that more individuals – in particular millennials and Generation Z – are taking greater ownership of their finances by turning towards a greater interest in investing.

The heightened interest, according to FUTU, is also attributable to the increased accessibility and usability of digital tools, plus an uncertain and volatile future arising from the Covid-19 pandemic.

In 2020 alone, among in-profits investors, 18.8% of millennials and 17.7% of Generation Z investors doubled their position, implying that they had achieved 100% of their investment returns.

Of the younger generation of investors, 75% of them were men from Generation Z, according to the data from FUTU’s platform.

Stocks were the mostly commonly traded among these investors, compared to other products such as funds, options and bonds.

Get the latest Singapore corporate news stories for FREE

These investors, according to the survey, seem to prefer new economy stocks, which make up the bulk of their portfolios.

The top 10 most traded US stocks in these investors’ portfolios also include organisations such as Apple, NIO and Tesla.

New economy stocks refer to those in high-growth industries that are on the cutting edge of technology, and are believed to be the driving force of economic growth and productivity.

SEE:Covid-19 cited as 'key trigger' for retirement planning among Singaporeans

According to the survey, Generation Z trades slightly more times a year compared to millennials at 147 times versus millennials’ 143 times a year.

Generation Z investors browsed through almost 200 stocks compared to millennials’ average of 155 counters.

The engagement frequency of online trading apps for Generation Z is 26% higher than that of millennials.

“The Covid-19 pandemic has radically shifted our way of life—how we work, socialise, save and more— and young generations were especially impacted,” says Leaf Li, Founder & CEO of Futu.

“The uncertain and discouraging conditions have pushed Millennials and Generation Zs to grow in resiliency and trained them to be ever-prepared for unprecedented situations. As we rebuild our economies and society, it is the younger generation who will be critical in shaping the world that emerges," Li adds.

Singaporeans can now access the Moo Community through FUTU’s recently launched online trading platform, moomoo.

The community provides FUTU’s users and clients with an open space to share insights, ask questions and exchange ideas.

The platform is now currently offering one free Apple share per new account opening with a minimum deposit of either $2,700, US$2,000 or HK$16,000 before 3pm on April 30.