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References and Notes

[1] Australian Stock Exchange, “2000 Australian Share Ownership Study.” P19.

[2] ibid. P19.

[3] ibid. P19

[4] 59 per cent of Australian adult males held shares directly versus 41 per cent for females. Australian Stock Exchange, “2000 Australian Share Ownership Study.” P19

[5] On average, retail investors trade around two times a year. Almost two thirds traded only once (or not at all) during a 12-month period. Source: Australian Stock Exchange, “2000 Australian Share Ownership Study.” P5.

[6] Full service/advice brokers had been used by almost half (44 percent) of those with a broker relationship. Australian Stock Exchange, “2000 Australian Share Ownership Study. P23

[7] The average dollar value of share parcels traded was $5,500 with 4 in 10 shareowners

(38 percent) with an average transaction size of up to $2,000. Australian Stock Exchange, “2000 Australian Share Ownership Study. P19.

[8] The Australian Securities Exchange was known as the Australian Stock Exchange at the time.

[9] ASX demutualised on October 13, 1998. It listed on ASX on October 14, 1998. It was known as the Australian Stock Exchange at the time.

[10] Australian Stock Exchange, “2000 Australian Share Ownership Study.” P4.

[11] Australian Securities Exchange, “ASX Australian Investor Study 2020. P15.

[12] At 41 percent, the level of direct share ownership in Australia ranked higher than other

major nations studied – the U.S.A., New Zealand, U.K., Canada and Germany. Australian Stock Exchange, “2000 Australian Share Ownership Study.” P26.

[13] Australian Securities Exchange, “ASX Australian Investor Study 2020”, P15.

[14] ibid. P13.

[15] ibid. P48.

[16] ASX internal data.

[17] Annual average of new listings on ASX from 2014 to 2020.

[18] In 2019. Source: Bloomberg.

[19] ASX internal data. 2000 was the year when the All Ordinaries index changed from including approximately 250 companies to 500.

[20] ASX internal data. The combined market capitalisation of ASX-listed entities at end-December 2000 was $1,005,569 million. In 2020, it was $2,398,668 million. 2000 was the year when the All Ords changed from including approximately 250 companies to including 500.

[21] Ibid. P16. Comparisons with portfolio values between 2020 and 2000 are not valid. The 2000 survey recorded average portfolio size, whereas the 2020 survey records median portfolio size.

[22] Care is needed with different comparisons between portfolio size. The 2000 figure is based on an average, whereas the 2020 figure uses a median measure.

[23] Australian Securities Exchange, “ASX Australian Investor Study 2020, P18.

[24] ibid. P15.

[25] Australian Bureau of Statistics, 2019.

[26] Australian Securities Exchange, “ASX Australian Investor Study 2020, P14.

[27] ibid, P9

[28] 54% made changes to their portfolio due to COVID-19. ASX Australian Investor Study 2020. P5.

[29] Australian Stock Exchange, “2000 Australian Share Ownership Study.” P5.

[30] Australian Securities Exchange, “ASX Australian Investor Study 2020. P12.

[31] Ibid. P51.

[32] Ibid. p43. Based on May 2020 survey.

[33] Australian Securities Exchange, “ASX Australian Investor Study 2020. P12.

[34] Ibid. P6

[35] Ibid. P6

[36] Australian Stock Exchange, “2000 Australian Share Ownership Study.” P25.

[37] Australian Securities Exchange, “ASX Australian Investor Study 2020. P42

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