22 December 2024

Recently trending

Vale Graham Hand Australian stocks will crush housing over the next decade, one year on Avoiding wealth transfer pitfalls Taxpayers betrayed by Future Fund debacle Australia’s shameful super gap

Reader: "I subscribe to two newsletters. This is my first read of the week. Thank you. Excellent and please keep up the good work!"

Ian Kelly, CFP, BTACS Financial Services: "Probably the best source of commentary and information I have seen over the past 20 years."

Reader: "Keep it up - the independence is refreshing and is demonstrated by the variety of well credentialed commentators."

Reader: "An island of professionalism in an ocean of shallow self-interest. Well done!"

Scott Pape, author of The Barefoot Investor: "I'm an avid reader of Cuffelinks. Thanks for the wonderful resource you have here, it really is first class."

Reader: "Congratulations on a great focussed news source. Australia has a dearth of good quality unbiased financial and wealth management news."

John Egan, Egan Associates: "My heartiest congratulations. Your panel of contributors is very impressive and keep your readers fully informed."

Reader: "Best innovation I have seen whilst an investor for 25 years. The writers are brilliant. A great publication which I look forward to."

Australian Investors Association: "Australia's foremost independent financial newsletter for professionals and self-directed investors."

Reader: "The BEST in the game because of diversity and not aligned to financial products. Stands above all the noise."

Reader: "Is one of very few places an investor can go and not have product rammed down their throat. Love your work!"

Don Stammer, leading Australian economist: "Congratulations to all associated. It deserves the good following it has."

Noel Whittaker, author and financial adviser: "A fabulous weekly newsletter that is packed full of independent financial advice."

Reader: "Love it, just keep doing what you are doing. It is the right length too, any longer and it might become a bit overwhelming."

Reader: "Great resource. Cuffelinks is STILL the one and only weekly newsletter I regularly read."

David Goldschmidt, Chartered Accountant: "I find this a really excellent newsletter. The best I get. Keep up the good work!"

Professor Robert Deutsch: "This has got to be the best set of articles on economic and financial matters. Always something worthwhile reading in Firstlinks. Thankyou"

Reader: "Carry on as you are - well done. The average investor/SMSF trustee needs all the help they can get."

Rob Henshaw: "When I open my computer each day it's the first link I click - a really great read."

Steve: "The best that comes into our world each week. This is the only one that is never, ever canned before fully being reviewed by yours truly."

Jonathan Hoyle, CEO, Stanford Brown: "A fabulous publication. The only must-read weekly publication for the Australian wealth management industry."

Eleanor Dartnall, AFA Adviser of the Year, 2014: "Our clients love your newsletter. Your articles are avidly read by advisers and they learn a great deal."

Reader: "I can quickly sort the items that I am interested in, then research them more fully. It is also a regular reminder that I need to do this."

Reader: "It's excellent so please don't pollute the content with boring mainstream financial 'waffle' and adverts for stuff we don't want!"

Ian Silk, CEO, AustralianSuper: "It has become part of my required reading: quality thinking, and (mercifully) to the point."

John Pearce, Chief Investment Officer, Unisuper: "Out of the (many many) investmentrelated emails I get, Cuffelinks is one that I always open."

Andrew Buchan, Partner, HLB Mann Judd: "I have told you a thousand times it's the best newsletter."

Reader: " Finding a truly independent and interesting read has been magical for me. Please keep it up and don't change!"

Home / Other

Institutions dominate ASX300

Graham Hand
23 February 2013

Small time investors have reduced their shares in Australia’s top 300 companies according to a new study.

Research by the University of Melbourne’s Dr Carole Comerton-Forde for the Australasian Investor Relations Association (AIRA) found that over the decade leading to 2011, small time investors (in this study, those owning less than 10,000 shares) have reduced their holdings in ASX 300 company shares by one third to 9.9%.

Institutions (including superannuations funds and offshore investors) now account for 90.1% of the issued capital of Australia’s top 300 companies.

While retail investors are more concentrated with larger companies in the ASX 20 index, 97.1% being small shareholders, they only own 25.2% of shares.

(Originally printed in The Conversation).

Perhaps one reason why active fund managers struggle to outperform the index is not because they are not talented or have the requisite skills, but quite the opposite: there are so many well-educated and smart analysts and fund managers working in wealth management, and they own 90% of the stocks, that it is difficult for any one to gain an edge over the others.

ASX, financial institutions, indexes

Most viewed in recent weeks

Vale Graham Hand

It’s with heavy hearts that we announce Firstlinks’ co-founder and former Managing Editor, Graham Hand, has died aged 66. Graham was a legendary figure in the finance industry and here are three tributes to him.

Chris Cuffe, James Gruber, Mark LaMonica CFA
19 November 2024

Australian stocks will crush housing over the next decade, one year on

Last year, I wrote an article suggesting returns from ASX stocks would trample those from housing over the next decade. One year later, this is an update on how that forecast is going and what's changed since.

James Gruber
11 December 2024

Avoiding wealth transfer pitfalls

Australia is in the early throes of an intergenerational wealth transfer worth an estimated $3.5 trillion. Here's a case study highlighting some of the challenges with transferring wealth between generations.

Peter Nevill
13 November 2024

Taxpayers betrayed by Future Fund debacle

The Future Fund's original purpose was to meet the unfunded liabilities of Commonwealth defined benefit schemes. These liabilities have ballooned to an estimated $290 billion and taxpayers continue to be treated like fools.

John Abernethy
27 November 2024

Australia’s shameful super gap

ASFA provides a key guide for how much you will need to live on in retirement. Unfortunately it has many deficiencies, and the averages don't tell the full story of the growing gender superannuation gap.

Pascale Helyar-Moray
4 December 2024

Looking beyond banks for dividend income

The Big Four banks have had an extraordinary run and it’s left income investors with a conundrum: to stick with them even though they now offer relatively low dividend yields and limited growth prospects or to look elsewhere.

James Gruber
20 November 2024

Latest Updates

Investment strategies

9 lessons from 2024

Key lessons include expensive stocks can always get more expensive, Bitcoin is our tulip mania, follow the smart money, the young are coming with pitchforks on housing, and the importance of staying invested.

James Gruber
18 December 2024
13

Investment strategies

Time to announce the X-factor for 2024

What is the X-factor - the largely unexpected influence that wasn’t thought about when the year began but came from left field to have powerful effects on investment returns - for 2024? It's time to select the winner.

Don Stammer
18 December 2024
4

Australian shares struggle as 2020s reach halfway point

It’s halfway through the 2020s decade and time to get a scorecheck on the Australian stock market. The picture isn't pretty as Aussie shares are having a below-average decade so far, though history shows that all is not lost.

Ashley Owen
18 December 2024
10

Is FOMO overruling investment basics?

Four years ago, we introduced our 'bubbles' chart to show how the market had become concentrated in one type of stock and one view of the future. This looks at what, if anything, has changed, and what it means for investors.

Eric Marais
18 December 2024
1

Is Medibank Private a bargain?

Regulatory tensions have weighed on Medibank's share price though it's unlikely that the government will step in and prop up private hospitals. This creates an opportunity to invest in Australia’s largest health insurer.

Emma Fisher, Vinay Ranjan
18 December 2024
2

Negative correlations, positive allocations

A nascent theme today is that the inverse correlation between bonds and stocks has returned as inflation and economic growth moderate. This broadens the potential for risk-adjusted returns in multi-asset portfolios.

Emmanuel Sharef, Erin Browne
18 December 2024

Retirement

The secret to a good retirement

An Australian anthropologist studying Japanese seniors has come to a counter-intuitive conclusion to what makes for a great retirement: she suggests the seeds may be found in how we approach our working years.

Shiori Shakuto
18 December 2024
12

Alliances

Site Map

About Firstlinks

Disclaimer
The data, research and opinions provided here are for information purposes; are not an offer to buy or sell a security; and are not warranted to be correct, complete or accurate. Morningstar, its affiliates, and third-party content providers are not responsible for any investment decisions, damages or losses resulting from, or related to, the data and analyses or their use. To the extent any content is general advice, it has been prepared for clients of Morningstar Australasia Pty Ltd (ABN: 95 090 665 544, AFSL: 240892), without reference to your financial objectives, situation or needs. For more information refer to our Financial Services Guide. You should consider the advice in light of these matters and if applicable, the relevant Product Disclosure Statement before making any decision to invest. Past performance does not necessarily indicate a financial product’s future performance. To obtain advice tailored to your situation, contact a professional financial adviser. Articles are current as at date of publication.
This website contains information and opinions provided by third parties. Inclusion of this information does not necessarily represent Morningstar’s positions, strategies or opinions and should not be considered an endorsement by Morningstar.

Institutions dominate ASX300

Leave a Comment: