AUSTRALIA - Australian investors are currently favouring cash and property, as managers begin to believe in the value of the home market, according to research from Russell.
The report also revealed a shift in valuation sentiment towards the Australian market, with the proportion of managers who viewed the market as overvalued dropping from 43% to 24%, and the proportion of managers who viewed the market as undervalued rising to a record 37%.
Apart from the growing preference for cash, the other big asset class shift was towards listed property trusts (LPTs).
The portion of managers bullish towards LPTs rose from 9% to 22% this quarter, while those bearish fell from 77% to 54%.
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