Consumer faith in stock markets returning
One-third of Australians believe the share market will be the most profitable sector over the coming year, according to a Loan Market poll.
Thirty-one per cent of the 823 respondents to the online poll felt that residential property was the best bet, and 9 per cent picked commercial property.
However, there is still an undercurrent of caution in consumer sentiment. One in 10 respondents to the survey said that the best-performing sector over the coming year would be cash - and 17 per cent thought they would be better off "putting their money under the mattress".
The poll also found that younger Australians had a bias towards property as an investment vehicle.
Of the Gen Y respondents to the survey, only 27 per cent chose shares as the most profitable sector over the coming year, while 31 per cent selected property, according to a Loan Market spokesperson.
"With savings being a particular priority for many Australians and caution being applied to nearly every financial decision, shares and property hold the most attractive risk/reward balance," said the spokesperson.
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While the last several months have seen increased market volatility, particularly in the US, advisers said there are multiple reasons why there has been an increase in defensive asset flows.
Scarcity Partners believes the dynamics playing out in the managed account and outsourced chief investment officer market are “here to stay” based on positive developments in financial advice.
Former executive chairman of failed stockbroker BBY, Glenn Rosewall, has been charged with aiding, abetting, counselling or procuring BBY’s dishonest conduct in relation to a financial service.
Fidelity International research has revealed Australian investors are significantly more optimistic about the market outlook and feeling more comfortable than their APAC peers, despite ongoing market volatility.
