Equity analysts are bullish on Perpetual, but would another acquisition really calm the choppy waters facing active managers?
Over at Bell Potter, a similar story was being spun. “The company produced what we saw as a solid set of figures given the weakness in global equity and bond markets during the quarter,” wrote analyst Marcus Barnard in a note to clients on July 26.
Clearly, the global market downturn is wreaking havoc on professional fund managers, just as it is for on the personal portfolios of most amateur investors.Thanks to rapidly rising interest rates, bonds have provided little shelter to the volatility in sharemarkets.in the compulsory superannuation sector ended the year in the black. So, if these highly diversified mega-funds can’t rustle up a positive return, then it stands to reason that investors with a narrower universe are having trouble.
But that still leaves a few billion dollars’ worth of retail and institutional client accounts heading for the door, presumably because they believe they could get a better outcome elsewhere or by investing it themselves.
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