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Speaking in Singapore, NAB CEO Andrew Irvine said Australia is attracting strong interest from global and Asian investors as capital is redeployed in a more uncertain world.
“Australia has a strong two-way relationship with Asia. We are a very attractive destination for global capital, particularly in the more fractured, uncertain world that we live in today,” he said.
“We benefit from strong institutions. We benefit from deep and well-regulated markets. And more recently, we’ve seen very strong growth in our domestic savings pool, particularly superannuation.”
“And that’s creating a much deeper, much more liquid capital market that’s attractive to Asian investors to participate in,” he said.
Mr Irvine was speaking from NAB’s Capital Markets Issuer and Investor Forum in Singapore over a two-day program, expanded this year in recognition of growing interest in having direct, practical conversations between issuers and investors in the APAC region.
Why investors are looking beyond the US
According to Mr Irvine, Australia’s capital markets are increasingly attractive to investors across the region and as global investors reassess their exposure to the US, Australia is increasingly in focus.
“With what we’re seeing in terms of the policy statements coming out of the US, I think on the margin, global investors are reducing what has historically been a bit of an overweight position in the US,” Mr Irvine said.
“As they look at where to deploy that capital, Australia’s right at the top of the list.”
Mr Irvine noted that Australia’s economic fundamentals were also being reassessed by investors.
“Australia typically has been a commodity-driven currency and a commodity-driven economy. And we are seeing a little bit of a change to looking at broader macro fundamentals of Australia compared to other markets,” he said.
Asked about Australia’s global trade relationships, particularly Australia’s relationship with China, Mr Irvine was quick to highlight that both countries benefit.
“China’s a substantial export market, particularly for Australia’s resources,” he said.
“I think Australia and China are dependent on each other, and that dependency is mutual.”
