Australians have more in managed funds, per person, than any other major country, according to an analysis from AFG Financial Planning.
AFG Global Funds Management Index shows that on a per capita basis Australians have $45,300 invested in managed funds - 99.45 per cent more than the figure of $22,740 recorded in 2000.
While US investors led the world in 2000, with an average of US$24,000 in managed funds, Australia has leap-frogged America in the intervening five years. The US per capita figure is now US$27,800 - 20 per cent less than the current Australian equivalent. In third position come the French, with an average of US$22,000 per capita invested in managed funds.
AFG Financial Planning dealer principal Ross Nayler says: "This is a spectacular result for Australia, which can be attributed to the country's strong economic and stock market performance, the Superannuation Guarantee, strong internal investment, plus a 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."
AFG Global Funds Management Index does not include direct share ownership, nor ownership of other asset classes such as property. Figures are based on the most recent data available, the second quarter of 2005, and include all countries except those such as Luxembourg, British Virgin Islands and other 'tax havens'.
Another key finding is after Australia's 99.45 per cent growth rate during the past 5 years, the next highest was Spain on 77 per cent and South Korea on 70.6 per cent
