Millennials get a lot of press -- good and bad-- but Credit Suisse reckons they should have our sympathy.

Its Global Wealth Reportsays those who came of age after the turn of the century have had a“run of bad luck,” and that low wealth tend to bedisproportionately found among the younger age groups.

“They faced the rigors of the financial crisis... and have alsobeen widely hammered by high and rising house prices, risingstudent debt and increasing inequality. Millennials are not onlylikely to experience greater challenges in building their wealthover time, but also greater wealth inequality than previousgenerations.”

While relative youth means they’ve as yet had little chance toaccumulate assets (or are spending all their money on avocado toast), Credit Suisse says they face“particularly challenging circumstances.”

Comparisons with thebaby boomers may not be strictly fair, but the report notes thatmillennials are doing less well than their parents at the same age,especially in relation to income, and home ownership. Their pension outlook is alsoworse than that of preceding age cohorts.

“On the whole, they are not what one would call a luckygeneration,” Credit Suisse said.

Other highlights from the report:

• Global wealth rose 6.4 percent in the past year and is now $280trillion

• North America and Europe together account for 64 percent oftotal household wealth (but only 17 percent of the adultpopulation)

• U.K. was an underperformer in the past year, with wealth peradult up 2 percent in local currency terms

• The richest 1 percent account for half of total household wealt

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