Investors less positive about the economy
Investor confidence fell from 122 to 111 points in September. Investors are therefore less positive than they were a month ago, although sentiment remains above the neutral level of 100 points.
Concerns mainly centre on the economic outlook. The share of investors expecting the Dutch economy to deteriorate rose from 34% to 43%. Expectations for the AEX and investors’ own portfolios have also become less optimistic.
Investors continue to see the geopolitical situation as the main factor influencing the stock market. At the same time, interest rate developments are receiving more attention.
Current economic uncertainty is making investors more cautious. We see that they are more negative about the economy, their own financial situation and developments in the stock market.
Bob Homan, Head of ING Investment Office
"}},{"componentType":"sectionTitle","title":"Opinion"},{"componentType":"paragraph","richBody":{"value":"
Interest rates attract more attention
Investors are paying closer attention to interest rates from the central banks as a factor influencing financial markets. According to Bob Homan, interest rates affect the valuation of different asset classes, including stocks, bonds and property. During periods of economic uncertainty, investors therefore pay closer attention to signals from central banks and the direction of interest rates.
ASML more popular than ever
For the next three months, investors once again see the most opportunities in ASML. The technology company’s popularity has reached a record high of 28%. RD Shell is also attracting more interest following the rise in oil prices, increasing from 6% to 8%.
| Most popular companies in AEX-index | |
|---|---|
| 1. ASML | 28% |
| 2. RD Shell | 8% |
| 3. ASMI | 3% |
| 4. Adyen | 3% |
| 5. ING Group | 3% |
"}},{"componentType":"sectionTitle","title":"Behaviour"},{"componentType":"paragraph","richBody":{"value":"
New pension system gets investors thinking
The transition to the new pension system is prompting many investors to think about their financial future. Almost half (49%) say it has made them pay more attention to their pension.
A third are concerned to some degree about their financial situation after retirement. One in five expect their retirement income to be probably or definitely insufficient to maintain their desired lifestyle.
Pension investing is well known, but less widely used
Two in three investors are familiar with pension investing as a way of building additional retirement savings. One in three actually use it.
Saving remains the most common way to build extra funds for later. Investors surveyed say they would build up more additional pension savings if they had more spending space, greater certainty about returns and more favourable tax rules.
The new pension system is getting people to think about their future. Understanding your pension can provide peace of mind and help you make choices in good time.
Bob Homan, Head of ING Investment Office
"}},{"componentType":"paragraph"},{"componentType":"paragraph","richBody":{"value":"Since November 2002, ING has been measuring investor confidence among Dutch private investors with the Investor Barometer. This tool, developed by ING, uses nine questions to determine the index for investor confidence. The index runs from 0 ('very pessimistic'), through 100 ('neutral'), up to a maximum of 200 ('very optimistic'). The research is carried out by research agency Blauw Research, which conducts monthly surveys with a representative sample of over 400 Dutch private investors. Different investors are surveyed each month to prevent panel effects.
"},"title":"The ING Investor Barometer"},{"componentType":"sectionTitle","title":"Good to know"},{"componentType":"paragraph","richBody":{"value":"Investing involves risks and costs. You may lose your investment or part of it.
This publication has been prepared on behalf of ING Bank N.V. and is intended for information purposes only. ING Bank N.V. obtains its information from sources considered reliable and has taken all possible care to ensure that, at the time of publication, the information on which its views in this publication are based is not incorrect or misleading. ING Bank N.V. does not guarantee that the information it uses is accurate or complete. The information in this publication may be changed without any form of notice. Copyright and data file protection rights apply to this publication. Reproduction of data from this publication is permitted, provided the source is mentioned. ING Bank N.V. is legally registered in Amsterdam, trade register no. 33031431, and is supervised by De Nederlandsche Bank (DNB) and the Netherlands Authority for the Financial Markets (AFM). ING Bank N.V. is part of ING Groep N.V.
"}}]},"hasMacro":false,"id":"5c2a3903-900a-4e13-8002-4f8c44369605","localeString":"en-GB","mainHeaderZone":{"backLink":{"textLink":{"text":"Market news and views","url":"/en/personal/investing/market-news-and-views"}},"componentType":"productHeader","coreHeader":{"body":"1 October 2026 – Confidence among Dutch retail investors fell in September. The ING Investor Barometer dropped from 122 to 111 points. At the same time, the transition to the new pension system is prompting many investors to think more carefully about their financial future. Almost half say the changes have made them pay more attention to their pension.","headerImage":{"extension":"png","original":"https://assets.ing.com/asset/61aa2102-6389-4685-a23c-14e44f4a40a9/ING_BeleggersBarometer_down_EN_806x240_px_sept26.png","publishedAt":"2026-09-25T14:10:59Z","transformBaseUrl":"https://assets.ing.com/transform/61aa2102-6389-4685-a23c-14e44f4a40a9/ING_BeleggersBarometer_down_EN_806x240_px_sept26","type":"image","updatedAt":"2026-09-25T14:11:08Z","width":1075},"title":"Investor confidence decreases, while pensions attract more attention"}},"publishDate":"2026-09-30T11:56:07.329+02:00"}}