‘Clear signs’ global risk appetite is reviving
Institutional investment flows into developed country stock markets are a “clear sign that appetite for risk is reviving”, according to State Street Global Markets, the investment research and trading arm of State Street Corporation.
It said institutional flows on it cross-border Equity Flow Indicator (X-EFI) last week recorded their highest monthly reading since August last year, when the credit crunch started.
In its Weekly Research Notes research paper, the organisation said flows in the past month into developed markets were only higher on 28 per cent of occasions in the 11-year history of the X-EFI.
One month ago, developed market equity flows were “pallid”, and at the start of the year they were “wretched”, higher in 92 per cent of monthly readings.
Japan has seen flows at close to record levels in the last fortnight, it added.
Recommended for you
Questions have been raised regarding the viability of the current Australian Financial Services licensing regime, and the role that licensees have to play in monitoring and supporting the profession.
ASIC has said it is exploring whether there are concerns regarding Macquarie and Equity Trustees for hosting platforms where investors rolled over their superannuation into the Shield Master Fund.
Almost 30 staff at AMP could be affected by changes to its marketing and communications team, Money Management understands, as it makes two senior hires.
Superannuation fund Cbus has announced it will offer a financial advice offering for its members and their partners called Advice Essentials Plus.