Agribusiness on course to outperform in 2010
The Commonwealth Bank Agri Index recorded growth for the agribusiness sector of 0.9 per cent during the past month and 3.0 per cent during the past three months.
In addition, the index forecast is for the agribusiness sector to return 17.7 per cent for the year to September 2010, “outperforming the broader market and all sectors outside of health care”.
Commonwealth Bank regional and agribusiness banking executive general manager Brendan White said strong and resilient fundamentals have kept the sector in good health during the past month.
White added that the sector’s strength was also evident in the past month from two of the largest companies that make up the Agri Index, Incitec Pivot Limited and ABB Grain Limited.
“These two firms performed exceptionally well during the period and are a testament to the industry’s good health and [are on track] to recovery.”
Forecast volatility for the sector remains high at 28 per cent for the next 12 months, he said.
Recommended for you
Licensee Centrepoint Alliance has completed the acquisition of Brighter Super’s annual review service advice book, via Financial Advice Matters.
ASIC has launched court proceedings against the responsible entity of three managed investment schemes with around 600 retail investors.
There is a gap in the market for Australian advisers to help individuals with succession planning as the country has been noted by Capital Group for being overly “hands off” around inheritances.
ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager.
