POWERED BY MOMENTUM MEDIA
Global pessimism worsens: PIMCO
PIMCO's global institutional clients have become more pessimistic about the prospects of global growth since the group's last survey in March.
Only 20 per cent of respondents in September's semi-annual survey were optimistic about the outlook for the US - down from 50 per cent who held this view in March. The survey group was also increasingly pessimistic about Europe.
Pessimists rose from 67 per cent to 95 per cent since the March survey, with forecasts that European growth would be -0.5 per cent. Respondents were evenly divided on the outlook for China.
John Wilson, head of PIMCO Australia, said expectations about the Australian outlook had also worsened since March. "Only 30 per cent of respondents were optimistic about the Australian economy, forecasting 4 per cent growth in September versus 58 per cent in March," he said.
Despite more individuals being pessimistic about the Australian growth outlook relative to the March survey results, Wilson said Australia still has flexibility to steer the economy.
"The current monetary and fiscal policy stance, as well a floating currency, gives Australia's policymakers ample flexibility to cut interest rates and provide liquidity support for banks if necessary," he said.
Recommended for you
Governor Bullock took a more hawkish stance on Tuesday, raising concerns over Trump’s escalating tariffs, which sent economists in different directions with their predictions.
Equity Trustees has announced the appointment of Jocelyn Furlan to the Superannuation Limited (ETSL) and HTFS Nominees Pty Ltd (HTFS) boards, which have oversight of one of the companies’ fastest growing trustee services.
Following growing criticism of the superannuation industry’s influence on capital markets and its increasing exposure to private assets, as well as regulators’ concerns about potential risks to financial stability, ASFA has released new research pushing back on these narratives.
A US-based infrastructure specialist has welcomed the $93 billion fund as a cornerstone investor.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Global X GlobalX FANG+ ETF
33.51 3 y p.a(%)
2
Spire Oaktree Opportunities XI Second Close
32.68 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.62 3 y p.a(%)
4
Spire Oaktree Opportunities XI First Close USD
31.36 3 y p.a(%)
5
Fidante Credit Suisse Global Private Equity
29.60 3 y p.a(%)
