Australia second to Japan as institutional powerhouse
Australia has become the largest centre for institutional equities investment outside of Japan in the Asia Pacific region, a report has found
Australia has become the largest centre for institutional equities investment outside of Japan in the Asia Pacific region, a report has found.
According to the 2000 International Target Cities Report in New York by Thomson Financial Investor Relations found Australia had $US116.4 billion institutional equity assets under man-agement in 1999.
This compares with the next placed Hong Kong at $US100.4 billion and number four, Singapore, at $US67.4 billion.
Axiss Australia chief executive Les Hosking welcomed the report as further evidence of Austra-lia's growing role as a global financial centre. Axiss is an initiative of the federal government set up to enhance Australia's position as a global financial centre.
"The agglomeration effects of the largest pool of investment capital and skilled funds manage-ment staff in Asia-Pacific, ex-Japan, will mean long term dividends for Australia," Hosking says.
AUTHOR
Recommended for you
Wealth Data has revealed the top five licensees for financial adviser growth over the September quarter, with more than 150 advisers joining in Q3 overall.
Former Sydney financial adviser, David Valvo, has pled guilty in court to a charge of dishonest conduct.
Building a network of mentors and coaches with varied skill sets could help women achieve their career goals, according to an FBAA executive.
AMP has reported its Q3 results and provided a progress update on the divestment of its advice division to Entireti.
