Markets: State Street banks on miners

Fund manager State Street has increased its investment in mining stocks and cut back its holdings in banks.

State Street Global Advisors has bought more mining stocks, sold some of their bank shares and increased their holdings of health care and retailers in a stock market they see as “fair value,” says Olivia Engel, head of active Australian equities for the fund manager.

The S&P/ASX200 Index is currently trading at 14 times forecast earnings, in line with its historical average, meaning it is neither cheap nor expensive, Engel told Markets Spectator. But “volatility keeps coming at us,” she says.


SMS Code Sent…

We have sent you a code via SMS to {{user.DayPhone}}

please enter this code below to activate your membership

If you didn't receive SMS code please

Log in to access this content

Looks you are already a member. Please enter your password to proceed

Hi {{ user.FirstName }}

Verify your mobile number to unlock a FREE trial

Looks like you've already taken a free trial

Please sign up for full access

Updating information

Please wait ...

Related Articles