Investor sentiment on the rise
Investor sentiment has improved but remains in negative territory, according to CoreData's Investor Confidence Index.
Investor confidence increased to -16.8 in the first quarter of 2012 - up from the lowest ever rating of -22.4 the previous quarter.
"This quarter marks the eighth consecutive quarter where the index has been negative, highlighting the prolonged effect of the global financial crisis on Australian investor confidence and their lack of confidence in the current global economic situation," the report said.
The survey also found that respondents who use a financial adviser are more likely to say they would withdraw money from an existing investment this quarter and are less likely to purchase a new investment product.
Cash remains the most popular asset class for investors to rebalance to, though the trend is slightly down.
"This suggests that while expectations for cash have become subdued, investors cannot see a viable alternative for investing their money," the report said.
Managed funds are again delivering the lowest levels of investor happiness, with 38.2 per cent of investors showing dissatisfaction and residential property proving to be a hit, the survey has shown.
Recommended for you
First Sentier Investors chief executive, Mark Steinberg, is set to depart the asset manager after seven years.
Metrics Credit Partners has completed the acquisition of Taurus Finance Group and BC Investment Group as it looks to launch consumer lending arm Navalo.
AMP has announced to the ASX that it is being sued by property fund manager Dexus regarding the sale of its real estate and domestic infrastructure equity business.
Having seen inflows of US$5.6 billion to its fixed income funds in the last quarter, Janus Henderson has closed on a deal with life insurer Guardian to secure funds to boost its product development.
