Phillipa Healy, Senior Vice President:PIMCO and the Harris Poll have conducted a number of research studies and looking at how women are really redefining wealth.

Our research has highlighted some of the hurdles that are faced by women investors when it comes to accumulating wealth. Libby, I think it would be great to start if you could share more about what our learnings have been around women investors as this powerful economic force, and as well as some of the hurdles and opportunities that that presents.

Libby Rodney, Chief Strategy Officer, The Harris Poll:Yeah. I think when you look at the — the research, women are really a force, right? Women control 51 percent of the wealth in the US today.

Text on screen: Investor Data - In 2015, for the first time in U.S. history, women edge out men for control of personal wealth. They now hold 51% or $14 trillion,of the nation's personal wealth

So 6 in 10 women say they wanna be rich and they're not gonna apologize for it. 1 in 3 millennials, younger women, are saying that they're gonna get 40 percent more wealth in the next five years.

So there's just these real ambitious women out there, and they're redefining how they look at wealth, it's about how does it help me pursue my life balance.

And I think that's because the way that women deal with money at home is fundamentally different.

When you look at women and men in their household, they — play different roles.

Chart: The bar chart breaks down the perceived role men play in a household: CEO (46%), CFO (42%), COO (25%) and Chief Care Taker (18%). 92% recognize that they are responsible for investing.

So men look at their role as being really the CEO and the CFO, where women are playing multiple roles.

They're playing the CEO, the CFO, the CCO, and the CCT, which is the chief caretaking officer, which has different implications to how they think about wealth in the short term and also in the long term.

Phillipa:I mean it sounds like for what you're saying around lifestyle, that almost puts more of an emphasis on shorter term focuses or shorter term horizon. Christine?

Christine Long, Executive Vice President:That's exactly right, Phillipa. As Libby mentioned, there's a need to balance both the short term needs of the household, and also with an eye towards the long term goals. And so we definitely saw in the research a higher prioritization of some of the short term needs, and also a focus on more lifestyle needs like health and wellness, which is a really positive trend.

Libby:Yeah. And it's so interesting 'cause it's not only return of lifestyle, but women are actually redefining how they age as they get older as well. So when we look into our research, we see that almost 3 in 4 women say that 70 is the new 50. So that really impacts how you think about return on lifestyle, but also how you think of that as you get into retirement, right?

Christine:That's exactly right, Libby.

Women are living longer, healthier lives. And there's an opportunity here, especially for advisors and investment professionals who work with women investors, to really help them balance both those short and long term goals.

Phillipa:Absolutely. Well that's some really interesting insights there. Thank you so much both of you for sharing those. And for anyone wanting to learn more about PIMCO's women in investing research study, please visit PIMCO's website.

For more insights and information visit pimco.com/diverse-perspectives

Disclosure

Recorded 04 February 2020

The survey results contain the opinions of the respondents and not necessarily those of PIMCO. The data contained within the report may not be related to any PIMCO product or strategy and should not be relied upon for any investment decision.

Expert Salon

In March and April 2018, we conducted expert salons in Newport Beach and New York City to capture ideas from thought leaders in women’s perspectives on investing, lifestyle and goals across media, finance and communications.

Financial Decision Maker Survey

This survey was conducted online within the United States by The Harris Poll on behalf of PIMCO from May 3 – May 16, 2018 among 1,500 U.S. adults ages 18 and older, including 748 women. All respondents had over $10,000 in investable household assets and at least some financial decision-making responsibility within the household. This online survey is not based on a probability sample and therefore no estimate of theoretical sampling error can be calculated. In March 2018, we also hosted 2 salon sessions to explore issues around women and investing with thought leaders, influencers and experts.

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