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On this episode of The nestegg Podcast, host Maja Garaca Djurdjevic and three experts discuss the latest in equities, property investing and super.

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Steve Waters, director of Right Property Group, chats about the subdued April price growth and how prices are predicted to move for the remainder of the year.

RMIT’s senior lecturer of finance, Dr Angel Zhong, talks about the Biden climate summit and impacts on the Australian sharemarket, as well as the possibility of a carbon border tax and what it means.

And lastly, tax and super guru Timothy Munro gives his thoughts on the overhaul of the superannuation performance test and the upcoming budget.

Have a question for our experts? Get in touch at [email protected] and you might get featured on the next episode.

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Has the property market reached its peak; Biden’s climate summit and our share...

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There is $17.5 billion in lost and unclaimed super across ...

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Investors told: divest from Aussie banks

By Staff Reporter

May 05 2015
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Invest

Investors told: divest from Aussie banks

By Staff Reporter
May 05 2015

One fund manager has urged SMSF trustees to re-allocate their SMSF assets from major Australian banks into international companies, claiming Australian banks are showing a number of “red flags”.

Investors told: divest from Aussie banks

By Staff Reporter

May 05 2015
Share

One fund manager has urged SMSF trustees to re-allocate their SMSF assets from major Australian banks into international companies, claiming Australian banks are showing a number of “red flags”.

Speaking at a lunch in Sydney yesterday, PM Capital chief investment officer Paul Moore said while SMSF trustees and even professional investors may be stuck with the habit of having a large allocation to bank stocks, major Australian banks are likely to be reaching the end of their rally.

Mr Moore said while the prospect of franked dividends may be attractive, investors need to ask themselves “if they’d rather receive a 3 per cent return from their franked dividend or earn a 10 per cent return, pay a bit of tax and end up with a 7 per cent return”.

“If people get a dollar back from the government they think it's Christmas even though it’s just one dollar – they’d rather get that one dollar back from the government than get five dollars back from somewhere else,” said Mr Moore.

Bank stocks, he said, have mostly just gone up and down over the past 18 months.

“They haven’t actually done much over the last 18 months, so it tells you that they’re struggling a bit because their earnings are maxed out and their valuations are pretty high,” he said.

“The bank index has never been as high as it has in 15 years, so that’s got to be a red flag to most professional investors.”

Mr Moore said investors should be looking at overseas banks which are generally 20 to 25 per cent cheaper than Australian banks and with an elevated currency.

Australian banks he believes will begin to struggle in terms of what investors can get in total return.

“I suspect we really are in the final innings for banks in terms of absolute performance relative to what you can get elsewhere,” he said.

However, SMSF trustees are probably reluctant to give up their bank stocks since they’ve done well with them previously.

“Until they’ve had a bad experience, they probably won’t sell,” Mr Moore said.

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