Advisers upbeat on local shares

Financial advisers are much more positive about predicted returns from Australian equities for 2004 than are fund managers, according to the January edition of Financial Standard Intelligence Unit's Market Expectation Survey. Financial advisers were unanimous in their expectations of a positive return, whereas only 69 per cent of fund managers were of the same view. Advisers were less positive about fixed-interest securities and international equities. For property investment, flat returns were expected by 49 per cent of the surveyed advisers for direct property and by 58 per cent for listed property.