Huge trend pushing record number of Australians to invest
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One major trend is pushing more Australians than ever to invest their cash outside traditional superannuation or their primary home as millions look to get ahead financially. The ASX released its annual investor study report which showed 11.5 million Australians are investing in stocks, crypto, exchange traded funds, residential property and more. Rory Cunninghman, a senior manager of investment products at the ASX, said the surge of ETFs had helped push the number of Australian investors up. “2.8 million Australians are now using ETFs to achieve their financial goals,” Mr Cunningham told Business Now. “That's a big increase that we've seen over the last three years (and) over the last six years and it represents about 24 per cent of the Australian population that are now using ETS.”
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