Investors finish 2009 on positive note
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Australian investor confidence now appears likely to finish the year on a positive note, according to the latest data contained in the Investment and Financial Services Association (IFSA) CoreData Investor Sentiment Index.
The data revealed that Australian investor confidence has improved for a third quarter in succession and suggested that the fourth quarter would also be in positive territory.
The degree of the turnaround in sentiment is indicated by the fact that the index started the year at minus 22.3 points and is expected to close the year out at around plus 7.4 points, representing a 30-point turnaround.
Commenting on the index, IFSA chief executive John Brogden said investor sentiment was improving and there was less volatility, which were both positive signs.
He said there also continued to be a steady increase in the number of investors who believed the market for investments would be better in the next three months.
"The proportion of investors that believe markets will improve in the next three months has jumped to 53.7 per cent this quarter, up from just 10.2 per cent in the first quarter," Brogden said. "Most of the households surveyed are optimistic about their future financial position, with almost half expecting their financial position to be better in the next 12 months and 18.8 per cent expecting it to be worse."
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