A new study by Credit Suisse Group found that Australia has the world’s top-performing equity market since 1900 with stocks enjoying an annualized return of 6.8% per year since that time. This according to an article in Financial Advisor.

Often referred to as the “lucky country” due to its abundant stores of natural resources, services-based economy and strong banking system, Australia’s strengths reportedly made it largely immune to the financial crisis. The country’s stock market performance surpassed that of 22 other equity markets, according to the article. The U.S. ranked second, followed by South Africa and New Zealand. 

“The researchers also said foreign investors have been attracted by the country’s rule of law, education system and established regulatory frameworks,” the article reports, concluding that its equity market has also “held up well amid the recent coronavirus-fueled global  downturn.”