Australia leads on managed funds
Australians are leading the world when it comes to the amount of money they have invested in managed funds, according to the latest AFG Global Funds Management Index.
The index, released this week, revealed Australians have an average of just under $50,000 in managed funds per person — the highest per capita average in the world.
According to the AFG Global Funds Management data, the Australian per capita average of $48,178 beats the US by 20 per cent and is more than double that of Sweden.
The data showed managed funds during the year were boosted by nearly 14 per cent in Australia, compared to only 10 per cent in the US.
However, it said the industry grew by 33 per cent in the United Kingdom and 22 per cent in Sweden.
AFG Financial Planning dealer principal Ross Nayler said Australia’s “world-beating” performance had come about by design rather than by accident, with the mandatory 9 per cent superannuation guarantee representing a very positive incentive.
AUTHOR
Mike Taylor
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