Investor sentiment on the rise
Investor sentiment has improved but remains in negative territory, according to CoreData's Investor Confidence Index.
Investor confidence increased to -16.8 in the first quarter of 2012 - up from the lowest ever rating of -22.4 the previous quarter.
"This quarter marks the eighth consecutive quarter where the index has been negative, highlighting the prolonged effect of the global financial crisis on Australian investor confidence and their lack of confidence in the current global economic situation," the report said.
The survey also found that respondents who use a financial adviser are more likely to say they would withdraw money from an existing investment this quarter and are less likely to purchase a new investment product.
Cash remains the most popular asset class for investors to rebalance to, though the trend is slightly down.
"This suggests that while expectations for cash have become subdued, investors cannot see a viable alternative for investing their money," the report said.
Managed funds are again delivering the lowest levels of investor happiness, with 38.2 per cent of investors showing dissatisfaction and residential property proving to be a hit, the survey has shown.
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L1 Capital has confirmed it intends to vote against the conversion of the Platinum Capital LIC into a listed ETF, meaning the deal “has a high probability of failing” due to L1’s substantial shareholding.
Pinnacle Investment Management has continued its focus on international expansion with the appointment of a managing director from T. Rowe Price.
Financial research firm Wealth Data, which publishes the weekly financial adviser numbers, has been sold to fintech firm Padua Solutions.
