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26 September 2000

# 8. What is making Australia a global financial centre?

DID YOU KNOW…

Consumers are embracing managed funds

  • Australians are investing more of their money in managed funds than depositing it in the bank.
  • Managed funds in Australia were $A590.4 billion as at June 2000, which is more than 44 per cent higher than total Australian bank deposits.
  • Funds under management have increased more than 305 per cent since 1988.
  • Australians had a choice of 2768 different managed funds products, as at 31 August 2000.

Bank deposits v managed funds in Australia

Bank deposits v managed funds in Australia

Source: Reserve Bank Bulletin, Tables BO3 and B15, and ASSIRT