Australians first in managed funds
The Superannuation Guarantee and strong economic and stock market performance have raised the average amount each Australian holds in managed funds to $45,300, far more than in any other country.
And that figure is almost twice the size it was in 2000, according to data compiled by AFG financial planning.
Back then, United States investors held the most money per capita in managed funds. The US per capita figure is now US$27,800 — about 20 per cent less than the current Australian equivalent.
AFG dealer principal Ross Naylor also attributed the rise in investment to Australia’s very high level of financial literacy.
“That said, we need to recognise that behind this encouraging ‘average’ figure, some segments of society are still falling through the cracks and are in serious need of financial advice to help with their savings.”
Falling in behind Australia and the US were France, Canada and the United Kingdom in descending order.
AFG expects to see more strong Australian gains in its next analysis in six months time, reflecting strong market performance in the second half of last year.
According to a recent report by Axiss Australia, Australia’s funds management assets currently stand at roughly $835 billion — the fourth largest in the world behind only the US, Luxembourg and France, and the largest in Asia, ahead of Japan, Hong Kong and Singapore.
Axiss has predicted that Australia’s pool of fund management assets will almost triple by 2015.
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