Global equity funds lead inflows
International equity funds continue to top the inflow charts for the March quarter, despite international funds suffering big losses for the first three months of the year.
Financial advisers channeled just over $1.05 billion in inflows into international equity funds in the March quarter, compared to $1.46 billion the quarter before, according to data just released by Assirt.
In the same period, Australian equity funds made a modest gain of around $50 million to just under $900 million, while multi-sector options shot up half a billion to pass the $2 billion mark.
Property and cash, the traditional safe havens in times of volatile markets, grew rapidly over the quarter but not as high as they have in previous market slowdowns. About $81 million flowed in to property in the March quarter, compared to three successive quarters of net outflows. Last year, property had experienced outflows of $139 million.
Australian fixed interest continued to suffer major outflows, with a quarterly figure of $345 million, and overseas fixed interest followed this trend for the first time in three quarters, with outflows of $25 million.4
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.
