Investment Banking News

Aussie investors don’t feel COVID fear

Posted by Anton Murray Consulting on . Posted in Investment Banking News

InvestorDaily

The portfolios of Australian investors have been hit harder by COVID than many of their global peers, but most believe that things are looking up. A PIMCO survey found that 60 per cent of Australian respondents had seen a negative impact on their portfolios as a result of COVID-19, compared to 51 per cent across the five other APAC markets surveyed – Hong Kong, Singapore, Taiwan, and Japan. “Despite this, many more Australians expect growth in their portfolios in the coming 12 months than foresee a contraction. And more Australians expect national and regional economic growth than their counterparts in the other APAC markets surveyed,” PIMCO said.

Those with lower incomes ($1,800 a week) were the worst affected by COVID-19, with 19 per cent of the group saying the pandemic had a “major” negative impact on their portfolios compared with 10 per cent of those with incomes above that level. Some 45 per cent of Australian respondents said the pandemic had also reduced their confidence in their own decision-making – but that hasn’t stopped them from backing themselves.

The rest of this article can be found at investordaily.com.au.

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