Less than 18 per cent of Navigator investors have made major changes to their investment portfolio over the past 12 months.
Less than 18 per cent of Navigator investors have made major changes to their investment portfolio over the past 12 months.
This suggests Australian investors aren’t making hasty investment decisions based on the current turbulent state of the markets.
“There has been a lot of media attention on the state of the markets and this could have caused investors to examine their portfolios and change from higher risk investments to safer choices,” said Marc Mengler, Managing Director Navigator.
“In a time when we are seeing weak markets in both the US and Europe, the Australian sharemarket has actually held up relatively well given the hostile global backdrop. Australian investors seem to be taking the sensible approach and not making major decisions based on the current state of affairs,” said Marc.
At this time of the year, Navigator expects to see quite a lot of movements in customer investment portfolio’s as it is generally the time that independent financial advisers review their client’s investment strategies. However, during July, Navigator only processed slightly over 3,100 client switches between funds.
In July 2001, Navigator processed approximately 2600 switches, only 500 less than the same period for 2002
“This really is good news, and highlights the fact that financial advisers have created investment strategies based on long term results for their clients,” commented Marc.
With Navigator, clients have access to investment across a wide range of quality investment managers and a variety of assets including cash, fixed interest, property, shares or any combination of these.
In the past 12 months, Navigator has seen the greatest amounts of inflows into Australian equities, International Equities and Australian Listed Property.
“Navigator is designed to give clients and independent Financial Advisers the flexibility to regularly change investment strategies. Our business is about providing a service that allows clients to react to positive or negative market changes,” said Marc.
Marc Mengler is available for interview.
For further information, please contact:
Simon Morgan, Group General Manager, Public Affairs
(03) 9829 8892
0407 966 632
Note to editors:
- Norwich Union Australia is a group of three specialist financial services companies; Navigator, Norwich Union Life and Portfolio Partners. Through these companies we provide products and services in the areas of wealth creation, wealth management and wealth protection for more than 300,000 customers throughout Australia.
- Globally, Norwich Union Australia is part of Aviva plc, the world’s seventh largest insurance group, the largest insurer in the UK and one of the top five life companies in Europe. Aviva was formed in May 2000 through the global merger of CGU plc and Norwich Union plc.
- Aviva’s principal business activities are long-term savings, funds management and general insurance. It has a market capitalisation of approximately A$23.5 billion at 16/07/02, worldwide premium and investment sales of more than A$72.2 billion from ongoing business and more than A$519 billion in assets under management. The group has 64,000 employees and more than 25 million customers.
- Norwich Union Australia has a sister company, CGU Insurance Ltd, a top 5 general insurance business, which operates independently in Australia.
- This document does not contain all the terms and conditions attaching to product benefits and options. For a full list of terms and conditions please refer to the Offer Document. A policy for insurance cover or an application for an issue of an interest as described in this document can only be effected after completion of the application form contained in a current Offer Document for the product.
The information in this document reflects Norwich Union's understanding of existing legislation, proposed legislation, rulings etc as at the date of issue. While it is believed the information is accurate and reliable, this is not guaranteed in any way. The information is not, nor is it intended, to be comprehensive or a substitute for professional advice on specific circumstances.
The securities advice or information given in this document is of a general nature and has not taken into account the investment objectives, financial situation or particular needs of any particular person. Before making an investment decision on the basis of the advice above, a prospective investor needs to consider, with or without the assistance of a professional adviser whether the advice is appropriate in the light of their particular investment needs, objectives and financial circumstances.