Mixed views on economic outlook

Barely half of Australia's asset owners, managers and investors believe the Australian economy will be at trend or above over the next decade, according to research undertaken by BNP Paribas Securities Services and the Australian Institute of Superannuation Trustees (AIST).

Just a week out from the Federal Budget, BNP Paribas has drawn on elements of the research it released during the Conference of Major Superannuation Funds (CMSF) to point to the mixed views of the economic outlook over the next decade.

The research showed while 51 per cent of respondents were confident  the economy would remain on trend or above, it also showed around 48 per cent held less positive views with 25 per cent believing it would be below trend while a further 23 per cent indicated they were uncertain.

Commenting on the research findings, BNP Paribas Securities Services Australia and New Zealand acting head, Ian Perkins said many asset owners believed Australia would experience another downturn, with some 70 per cent expecting such a downturn would occur within the next decade.

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He said that whatever the outcome might be, debt and deleveraging would be major issues towards the end of the decade, especially as rates rise.