Australian Financial Services Sector Report Released
(News4us.com) September 01, 2011
Austrade has recently released two financial services publications that highlight the strength and size of Australia’s financial services sector.
The Australian Hedge Funds report profiles Australia’s hedge funds industry, one of the largest in the Asia-Pacific and comprising A$32.6 billion in hedge fund strategies managed by more than 85 Australian investment managers.
Australia has a growing number of high net worth individuals (HNWIs) and its market ranks ninth largest globally. HNWIs and retail investors continue to be the major investor base for hedge funds in Australia.
Australia’s Banking Industry report shows that Australia has a strong, profitable, sophisticated and well regulated banking sector which is welcoming of new entrants and increasingly engaged in regional and global markets.
The financial sector is the largest contributor to Australia’s national output, around 11 per cent of Australian output or A$135 billion of real gross value added in 2010. Total assets of Australia’s banks, defined as Authorised Deposit-taking Institutions (ADIs), were A$2.7 trillion.
Austrade has also released a Chinese language edition of the Banking Industry report, which was launched at the conclusion of the Australia-China 2.0 Ministerial Trade Mission to China in early August.
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