The popularity of investing in the share market has been reconfirmed with over 36 per cent of Australian households holding some form of securities according to the Melbourne Institute Household Saving Report.
The popularity of investing in the share market has been reconfirmed with over 36 per cent of Australian households holding some form of securities according to the Melbourne Institute Household Saving Report.
The report says this return to form actually puts the figure at its highest level in two years compared with 29 per cent in June, the first time the figure had fallen in the same two year period.
Intentions to buy into the share market also dropped with nearly 18 per cent stating they would invest in shares. This figure was down from the same period last year when 21 per cent indicated they would do the same.
Superannuation remains the largest area of investment with over 51 per cent of all households holding investments in superannuation, down five per cent from this time last year. At the same time only three per cent of respondents to the survey indicated they would direct new savings to increase investments in superannuation.
The survey found there was no single reason for this, with only around 8 per cent of households stating the inability to withdraw money from superannuation at any time had an influence on their decision.
According to the report managed trusts and cash management trusts only formed part of savings in 22 per cent of households.
However similar figures released in the US last week by the Investment Company Institute shows that the US still leads the world in personal investments with nearly one in two American households investing in a managed fund.
This figure had climbed in the last twelve months, up 4.5% to an estimated 50.6 million households, as of June 2000, from 48.4 million households in 1999.
Total managed fund ownership reached 88 million individuals with the research also finding most fund shareholders own stock funds more than any other type of fund.
