Managed Funds in Aust now $2 trillion – fourth largest sector in the world!

Managed Funds in Aust now $2 trillion – fourth largest sector in the world!

Managed Funds in Aust now $2 trillion – fourth largest sector in the world!

Kate Kachor, Financial Observer, writes – Investments in Australia’s funds management industry clicked over to more than $2 trillion at the end of 2012, cementing the sector as the fourth largest in the world. Australian Bureau of Statistics (ABS) data released yesterday showed the managed funds industry had $2.03 trillion in funds under management as at 31 December 2012, an increase of $65.5 billion or 3 per cent on the September 2012 quarter. The consolidated assets of managed funds institutions rose by $49.3 billion or 3 per cent to $1.6 trillion in the December quarter, the ABS data showed. READ MORE
And Staff Reporter, at Investor Daily also reported – Data released by the Australian Bureau of Statistics (ABS) indicate managed funds in Australia reached $2 trillion at the end of 2012. Commenting on the findings, Financial Services Council (FSC) Chief Executive John Brogden described the statistic as a “significant milestone” for the country’s funds management industry, as well as the broader finance sector. “Australia’s financial services industry will continue to go from strength to strength,” Mr Brogden said in a statement. READ MORE
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