Despite market volatility, savers in for the long haul, allocated another $ 100 billion into the (now) $ 3.4 Trillion superannuation pot in the September 1/4, up 17 % over the year.
Local equities allocation of 21 % has not changed much over the past 6 years, but the international investment has...
From today's AFR.
Challenger's chairman Jeremy Cooper says the $ 3.3 Trillion in superannuation is set to grow to $ 34 Trillion in 40 years....twice the size of the ASX.
By 2061 Australians' super would be a comparable size to Norway's sovereign wealth fund which at nearly 3 times the country's...
Top 20 now hold 92 % of the share registry ,so it's tightly held.
CIMIC shareholders were scaled back to $2,000 + 70 % above that.....just 17 million shares out of the 257 mill in the offer. Insto's got 193 million shares.
Local Insto's were none too keen on the original $ 1 billion Ventia IPO priced at 12 times earnings with a healthy 6 % yield.
I've only applied for five grand worth, mainly for the dividend . Might try for more if the S.P dips a fair bit on listing.
It's an ok sort of company, for the long term.
S P down to $2 .23 today.
Back in for a second bite at $ 2.25 . So that'll be another ten grand on this horse. That will have to do me, for now.
There were about 40 buyers lined up at $2.25 but a lot of those orders this morning, were interrupted by the 1/2 a cent ferkels.
Buggered if I know...
For a Nil tax payer or a retiree , buy backs will certainly provide a bit of tax benefit, sometimes, too, for a ( nominal ) 15% tax paying SMSF ( if there is no scale back ) .
For everybody else on higher marginal rates , it's hardly worth the bother. Take a look at the recent result of CBA's...
Article in this week's AFR quoting a gun short seller hinting at an on-line retailer in his sights.
This must surely be it.
Flight Centre is the number one shorted stock on the market, at the moment ( 12 % shorted ) . Kogan.com is not too far behind in 6 th spot with just under 9 % of its...