Australians calm despite market volatility
Over a third of investors believe that now is the time to take advantage of low financial markets by buying shares, according to a recent Newspoll survey.
Forty three per cent of respondents said they were not phased or optimistic about the state of the financial market over the last three months, while 65 per cent said they thought it would take 12 months to three years for the markets to recover, suggesting most investors know there will not be a quick recovery.
Public calm about the state of the financial markets is also having an impact in the superannuation sphere, with nearly 80 per cent of working Australians saying they have not reconsidered their superannuation strategy over the last three months.
Only 9 per cent of the people surveyed have stopped making additional contributions to super.
The survey was conducted for the Investment and Financial Services Association (IFSA) to gauge the public mood towards the current financial market. The chief executive of IFSA, Richard Gilbert, said: “Super is a long-term investment and we are pleased the results show that investors remain committed to their existing saving strategies.”
The survey also found that just over 20 per cent of Australians used the services of a financial planner for their super in the last two years, while 39 per cent of working Australians had made additional contributions to their super during the same period.
Recommended for you
An adviser has received a written reprimand from the Financial Services and Credit Panel after failing to meet his CPD requirements, the panel’s first action since June.
While efficiency remains a top priority for Australian advisers, State Street has revealed the profession is now juggling this desire with the need to maintain personalisation of its service offering.
A possible acquisition of data provider Iress is becoming a greater likelihood after the firm announced it is engaging with multiple interested parties.
AMP has reported a 61 per cent rise in inflows to its platform, with net cash flow passing $1 billion for the quarter, but superannuation fell back into outflows.
