The number of Australian women investing online has doubled from 76,000 to 150,000 over the last five years, with women showing particular interest in exchange traded funds (ETFs), Investment Trends has found.
The proportion of women investing in ETFs increased more than threefold in the last five years, going from seven per cent of all online investors to 25 per cent.
“The ability of ETFs to provide convenient, low cost access to a diversified investment portfolio resonates strongly with female investors across Australia, giving them an efficient way to build a core portfolio without needing to pick individual stocks,” Investment Trends global head of client service and sales, Suzie Toohey, said.
Women still only represented 20 per cent of Australia’s online investors however, and Toohey, on International Women’s Day, called for financial literacy levels for women to be lifted to better respond to this gap.
“While more women are investing and taking control of their financial future than ever before, the gap between the independent financial security of men and women remains too large,” she said.
“The wealth management industry must continually increase its focus on delivering products and services that work for women, and work for them at every stage of their life – young, middle aged or mature; single, partnered or widowed.”
Worryingly, only 14 per cent of women over 40 surveyed by Investment Trends felt confident that they could fund the lifestyle they sought in retirement.