ASX report reflects improving conditions
Despite the pain in the Australian share market over the past year, the number of listed companies at the end of May was down just 1 per cent on a year ago, according to an Australian Securities Exchange (ASX) activity report.
The total number of listed entities at the end of May 2009 was 2,205, compared to the slightly higher figure of 2,223 for the same time last year.
And despite there being only one new listing in May 2009 in contrast to the nine listings for the same period last year, a strong demand for stock saw the amount of secondary capital raised in May 2009 total $11.3 billion, up 305 per cent on May 2008.
Meanwhile, Australian volatility during May remained below that in the US despite a decline in US volatility over the past two months. Volatility levels moved towards levels that existed prior to the collapse of Lehman Brothers in September.
Future volatility expectations have also declined, according to the ASX report.
Recommended for you
The FSCP has announced its latest verdict, suspending an adviser’s registration for failing to comply with his obligations when providing advice to three clients.
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.
