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According to chief market strategist at CMC Markets and host of The Artful Trader podcast Michael McCarthy, there are certain investor personality traits that seem to predict success in the share market.

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In this episode of the nestegg Podcast, Michael joins host Grace Ormsby to outline exactly what these characteristics are, the difference between high-risk and low-risk appetites, and how investors can apply different strategies depending on their own personality type.

Michael also explains how fear can be both helpful and a hindrance for confident decision-making, why failure is a crucial process for investors seeking growth, and where budding investors can begin educating themselves about the markets.

Thanks Matthew, for sharing your insights with the nestegg podcast team!

You can keep up to date with what CMC Markets are up to HERE

Have an investment story to share? Get in touch at [email protected] and you might get featured on the next episode.

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ASIC lifts active ETF ban

By Cameron Micallef · December 13 2019

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Invest

ASIC lifts active ETF ban

By Cameron Micallef
December 13 2019

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ASIC lifts active ETF ban

By Cameron Micallef · December 13 2019

Reading:

ASIC has lifted its halt on active managed ETFs that do not disclose their portfolio holdings daily and engage in internal market making, despite growing concerns within the sector.

The freeze on new active ETFs entering the market began in July with ASIC raising concerns about “internal market makers” and non-disclosure of daily holdings.

Internal market making occurs when the fund’s responsible entity acts as the market maker for its own fund on the fund’s behalf, either by submitting bids and offers itself or by engaging a transaction agent that executes its instructions.

In a statement, ASIC noted that it “intends to work with market operators and other stakeholders to ensure new funds being admitted for quotation use compliant models and changes that are required to existing models are made as soon as possible”.

“In some models, market-maker quotes are lead indicators of changes to fund portfolio values rather than responding to publicly available information such as indicative net asset values (iNAVs),” ASIC’s review noted.

Funds using the model tend not to disclose their portfolio holdings daily and are also usually actively managed funds.

But funds engaging in internal market making only represent around 6 per cent of funds under management in exchange-traded products.

The regulator has asked that they ensure that:

input for market-making quotes is a reference price or other information that is publicly available
internal compliance and supervision arrangements are adequate
information barriers are established to ensure decisions to buy or sell units not made by persons or systems with knowledge of the current portfolio holdings
there are adequate arrangements for identifying and responding to instances of substantial information asymmetry in the market, which may include cessation of market-making activities or requesting a trading halt

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About the author

Cameron Micallef

Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.