Agribusiness on course to outperform in 2010
The Commonwealth Bank Agri Index recorded growth for the agribusiness sector of 0.9 per cent during the past month and 3.0 per cent during the past three months.
In addition, the index forecast is for the agribusiness sector to return 17.7 per cent for the year to September 2010, “outperforming the broader market and all sectors outside of health care”.
Commonwealth Bank regional and agribusiness banking executive general manager Brendan White said strong and resilient fundamentals have kept the sector in good health during the past month.
White added that the sector’s strength was also evident in the past month from two of the largest companies that make up the Agri Index, Incitec Pivot Limited and ABB Grain Limited.
“These two firms performed exceptionally well during the period and are a testament to the industry’s good health and [are on track] to recovery.”
Forecast volatility for the sector remains high at 28 per cent for the next 12 months, he said.
Recommended for you
Having sold Madison to Infocus earlier this year, Clime has now set up a new financial advice licensee with eight advisers.
With licensees such as Insignia looking to AI for advice efficiencies, they are being urged to write clear AI policies as soon as possible to prevent a “Wild West” of providers being used by their practices.
Iress has revealed the number of clients per adviser that top advice firms serve, as well as how many client meetings they conduct each week.
Morningstar has made two business development appointments to drive the growth strategy of its financial advice software, AdviserLogic.
