The Market Herald’s Keely Lynch interviewed Jessica Amir, Market Strategist at MooMoo, to discuss the evolving landscape of female investing and the noticeable surge in interest throughout 2023.
The discussion was based on a survey conducted by Macquarie University in collaboration with trading platform MooMoo.
The survey delved into the investment behaviour of more than 700 Australian investors, noting a rising interest among females in managing their finances, particularly through investing to generate passive income. Notably, the survey showed that 38 per cent of women expressed a desire to invest for passive income purposes.
“After conducting a survey, we found that women are increasingly more interested in investing, supported by our own research and the broader ASX investor study,” Ms Amir said.
“The research pointed out that women tend to prefer a hands-off approach, known as passive investing. Additionally, they aim to safeguard their portfolios by diversifying investments, not only in shares but also in cash and property.”
The study also identified that women still face challenges when it comes to investing, as 55 per cent of women identified a lack of education as a significant hurdle in their investment journey. Additionally, 40 per cent expressed concerns about their financial future, a figure notably higher than the 27 per cent reported by men.
“For females, we’ve just got to remember the numbers, the trends are our friend, the markets generally go up over time, so the best way to get started is to invest now, and regardless of the market being down, it’s a great opportunity.”
Ms Amir predicts that in 2024 “There’s going to be a lot more females entering the market, probably at a time when the market has momentum and is likely to continue growing over the next 24 to 48 months.”