Managed funds bonanza
The Age reports that Australians have $1.1 trillion invested in managed funds, according to data released by the Australian Bureau of Statistics.
It’s no surprise really, given that compulsory superannuation has been part of the landscape since the mid 1980s.
Federal Treasurer Peter Costello is quoted as saying: “I have no doubt that the volume of money that Australians have in managed funds and directly in the stock market has contributed greatly to the increase in stock market values.”
Of course that is true. I’m not a guru, so please don’t read this comment as investment advice, but it’s hard to see the Australian stock market collapsing while so much money is slushing around looking for a home.
Personally, I’d like to see the government initiate or support the creation of infrastructure bonds and mandate a small percentage of investment from superannuation funds into regional projects.
I was involved in 2001 with the Australian Regional Investment Plan, which recommended this. The government at the time made encouraging noises but never progressed towards implementation.
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