Equity investing takes off
Equityinvesting has topped the popularity list in the retail industry in the past few months, the latestAssirt Market ShareReporthas revealed.
Both Australian and International equities came out as winners amongst all sectors in the March 2002 quarter results, registering a 46 per cent and 67 per cent increase in fund inflows from the December 2001 quarter respectively.
The multi-sector category was also a winner, with inflows increasing from $779 million in December 2001 to $907 million in March 2002.
The Assirt report also revealed cash products dropped from quarterly inflows of $754 million in December 2001 to outflows of $630 million in March 2002, suggesting funds were redirected from this sector to other more growth oriented investments.
Other sectors which experienced a drop in net quarterly inflows to March 2002 were Australian fixed interest and property.
Australian fixed interest went from $490 billion in the December 2001 quarter to $270 million in the March 2002 quarter, while property slowed to $295 million from $348 million in December 2001.
Overall, the size of the retail market increased by 1.3 per cent to $239.5 billion in the March 2002 quarter.
Recommended for you
Professional services group AZ NGA has made its first acquisition since announcing a $240 million strategic partnership with US manager Oaktree Capital Management in September.
As Insignia Financial looks to bolster its two financial advice businesses, Shadforth and Bridges, CEO Scott Hartley describes to Money Management how the firm will achieve these strategic growth plans.
Centrepoint Alliance says it is “just getting started” as it looks to drive growth via expanding all three streams of advisers within the business.
AFCA’s latest statistics have shed light on which of the major licensees recorded the most consumer complaints in the last financial year.
