DIY super drives direct share ownership
An Australian Stock Exchange survey found that 600,000 entered the share market in the past two years. The ASX study found that 55 per cent of Australians now own shares directly or through funds or trusts, up four percentage points on 2003. Of those, the ASX says 44 per cent (6.4 million) own shares directly, up from 39 per cent in 2003, while another 11 per cent (1.6 million) own them via managed funds or personal super. Compulsory superannuation funds are not counted in the survey. One reason for the increase may be the transfer of funds from conventional super schemes into self-managed super funds.