The Face of Investors Is Changing, More Millennials Participating: CBA Study

Patrons return to the MCA Cafe (Museum of Contemporary Art Australia) in Sydney, Australia, on Oct. 12, 2021. Lisa Maree Williams/Getty Images

New research found that the COVID-19 pandemic accelerated the trend of millennials becoming self-directed investors, with the most favoured investments being property and shares.

The Commonwealth Bank of Australia (CBA) conducted a study of 1,000 people during April 2021 and revealed 43 percent of millennials in the group were investing with the intention to create wealth to become financially independent.