Investor sentiment down
A new report has revealed that the sub-prime crisis has had a negative impact on investor sentiment across Asia, with investors in Australia, New Zealand, Japan and Taiwan the least optimistic for what’s in store.
The latest ING Investor Sentiment Index showed that recent events affected investment decision-making in all the surveyed Asian countries and that this will continue over the next three months.
In the last three months, an increasing number of investors shifted away from riskier investments and towards what they deemed to be the safer options of gold, real estate investment trusts and mutual funds.
The survey also revealed that the percentage of respondents who felt there was a deterioration in their domestic economy had significantly increased, with Korea, Japan and Taiwan most affected by this.
“Korea, Japan and Taiwan are going through a period of political uncertainty and the negative impact that government changes have had on the local economy has been profound,” ING Investment Management Asia/Pacific regional general manager, North Asia, Eddy Belmans commented.
“It will likely take some time for the new governments to regain investor confidence in these markets.”
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.
