Manager sentiment warms on Aussie equities
Australian investment managers appear to have adopted a more positive attitude towards the outlook for Australian shares over the next 12 months, according to new research released by Russell Investments.
The Russell Investment Manager Outlook has revealed three-quarters of the investment managers surveyed expect the Australian sharemarket to be higher over the next calendar year, with around a third of those being extremely bullish.
Commenting on the research, Russell Investments portfolio manager Scott Bennett said sentiment towards equities had hit a five-year high.
“One of the most interesting things this quarter is there was a dramatic drop off in pessimism, with only 5 per cent of managers bearish towards shares, down from 30 per cent last quarter,” he said.
The Russell research also revealed a positive shift in sentiment towards international equities, with Bennett suggesting the US Federal Reserve’s continuing support for monetary stimulus had helped remove some apprehension from the minds of Australian investment managers.
He said the strong Australian dollar was also helping international equities to look more appealing.
AUTHOR
Mike Taylor
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