However, strong growth in 2010 cannot hide the fact that overall wealth dynamics have been subdued in recent years. Gross financial assets have been growing by an average of 4.1 percent a year since 2000; per capita growth at 3.2 percent was even slower. “Compared with global economic growth and inflation over the same period, this performance is rather disappointing”, said Michael Heise, Chief Economist at Allianz. “Recurring financial crises and stock market slumps have taken their toll on savers.”