The Minister for Financial Services & Regulation, Joe Hockey, today unveiled a four-month study into share ownership in Australia, which aims to give investors better service.
The Minister has approved an Australian Stock Exchange request for $180,000 from the Securities Industry Development Account for a four- month study of share ownership in Australia.
"Australia has the second-highest share ownership in the world. This study will go a long way to making Australia number one, as well as improving market efficiency and ultimately, giving Australian investors better products and service.
"The study will allow industry players, regulators and policy makers to better understand the retail market for securities and how they behave.
"It will result in a greater understanding of the factors which drive growth and participation in the retail side of the market."
The study has two phases. The first is a qualitative study of retail shareholder groups, looking at issues such as key influences on investment decisions, knowledge of the ASX and its role, and perceptions of brokers and other intermediaries.
The quantitative phase of the study will look at total share ownership, share ownership by demographics, length of share ownership, sources of advice, and future purchase intentions.
The findings will be distributed widely to maximise the benefits of the research. This will include distribution to the media, regulators, government, policy makers, brokers, information vendors and institutions.