State Street’s senior managing director in Australia Robert Goodlad says investors are “cashed” up and looking to invest in local stocks.
“The case for bonds at these levels is questionable,” says Goodlad. “People are looking at opportunities to come back into equities.”
He says State Street, which manages $80 billion in Australia, is constantly asked by its customers to improve its transparency in investments.
“Fund managers need to know their positions on the spot,” says Goodlad. “In the client facing area there are opportunities to grow the business compared to others were there are greater pressures to be more efficient.”
He sees “consolidation” in the fund management market as companies seek to cut costs to remain in business.
“There are demands for lower cost products for the back and middle office,” he says. “I don’t see the client facing side being affected. “
