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50% of fund managers think the market is overvalued and there there is better value else where

50% of fund managers think the Australian sharemarket is overvalued: Russell
Friday, 30 September, 2005 Print
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The latest Russell Australian Investment Manager Outlook shows that 50% of investment managers are predicting a decline in Australian share market returns.

The survey results demonstrate that investment managers are wary of domestic equities because of their high price to earnings ratios and are looking at investing in international equities or in the Australian dollar.

Specific findings from the survey are are as below.

• Australian bonds: 69% of managers expect a decline in returns.
• Australian small cap equities: 67% of managers forecast a fall in returns.
• Australian Listed Property Trusts: 55% of managers predict a decline in returns.
• International Equities: 51% of managers predict an increase in returns.
• Australian dollar: 48% expect the AUD$ to increase against the USD$.
• Oil prices: 68% of managers predict rising oil prices to have a negative effect on the market.

Source: Russell Australian Investment Manager Outlook, September 2005.