POWERED BY MOMENTUM MEDIA
Asia Pacific essential for Australian fund managers
A study by the Financial Services Council (FSC) and Plan For Life has revealed that $32.1 billion flowed from overseas investors to Australian-based investment managers as at 30 June 2010, the majority of which came from the Asia Pacific region.
According to the study conducted between November 2010 and July 2011, 73 per cent ($23.5 billion) of the funds that flowed from 18 key overseas managers came from the Asia- Pacific region, trumping both Europe at 13.6 per cent and the UK at 8.3 per cent.
Similarly, 46 percent of the $109 billion invested globally by the 14 Australian investment managers identified in the study went to Asia Pacific investments.
According to FSC chief executive officer John Brogden, the data has underscored the importance of supporting recommendations outlined by the Australian Financial Centre Forum ('Australia as a Financial Centre', November 2009) in order for Australia to position itself as a leading financial centre in the region.
"The introduction of an investments manager regime and a collective investment vehicle regime would attract even greater inflows and encourage further engagement with the Asia Pacific region and beyond," Brogden said.
Brogden said implementing an Asia funds passport would also have significant economic benefits by increasing the scale and efficiency of Asia's funds management industry.
According to the study, the most popular investment type flowing into Australian funds were overseas shares (26.5 per cent of $32.1 billion), while overseas funds were the most popular destination for Australian shares (55.5 percent of $109 billion).
The FSC stated that these figures indicate that Asian investors are recognising the capability of Australian-based fund managers in the area of international equities and international property.
Recommended for you
A member body representing some prominent wealth managers is concerned super funds’ dominance is sidelining small companies in capital markets.
Earlier this month, several Australian superannuation funds fell victim to credential stuffing attacks, which saw a small number of members lose more than $500,000.
Small- to medium-sized funds have become collateral damage in an "imperfect" model for super industry levies, a financial institution has said.
Big business has joined the chorus of opposition against the proposed Division 296 tax.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
90.28 3 y p.a(%)
2
GAM LSA Private Shares AU I
37.08 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.44 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
31.12 3 y p.a(%)
5
Global X GlobalX FANG+ ETF
28.28 3 y p.a(%)
