Purple patch

Is there value to be found in the Australian equity market for the high net worth investor? According to the country's stock analysts, there is. In fact, they say investors without an exposure to the market are late to the party. Australia's stockmarket has delivered a total return, including dividends, of just over 20% in the past 12 months. In general, the Sydney-based exchange has been far less affected by the bubbles and crashes that have battered other regional exchanges, making Australia a safe haven in the Asian timezone. In the past decade, market liquidity has gone from 40% of market capitalization to 80%, and the market itself has almost tripled in size.