Appetite for overseas markets still overshadows ASX
Investors expect the local stock exchange to surge ahead in the next year, but it won’t be enough to drag them away from burgeoning overseas markets, a survey suggests.
Despite 70 per cent of surveyed investors tipping an Australian Stock Exchange (ASX) surge in the next 12 months, just a third listed Australia as their country of choice for stock options, research by online stock application Skaffold showed.
It ranked marginally ahead of the US, which was the chosen investment destination for 30 per cent, and Europe for 16 per cent of the surveyed 200 investors.
Skaffold CEO Chris Batchelor said although the sentiment towards Australian stock options was changing, preferences for many investors still remained overseas.
“Looking offshore, more than two thirds of respondents (69 per cent) said they intended to maintain current exposures to offshore markets,” he said.
“More than one quarter (26 per cent) said they would increase exposure and only 5 percent said they would decrease their offshore holdings.”
Recommended for you
Magellan has closed out the financial year with funds under management approaching $40 billion and outlined its estimated performance fees.
First Sentier Investors chief executive, Mark Steinberg, is set to depart the asset manager after seven years.
Metrics Credit Partners has completed the acquisition of Taurus Finance Group and BC Investment Group as it looks to launch consumer lending arm Navalo.
AMP has announced to the ASX that it is being sued by property fund manager Dexus regarding the sale of its real estate and domestic infrastructure equity business.
