70 new investors

A TOTAL of 70 new investors have entered and are now participating in the Fijian stock market at the end of the first six months of this year.

This was highlighted in the South Pacific Stock Exchange (SPSE) new investor statistics as at end of June.

Giving an overview of this during an SPSE Networking Event on Thursday, SPSE acting chief executive officer Krishika Narayan said the new investors accounted for 30 per cent of number of trades, 32 per cent of volume traded and 30 per cent of value traded.

“Most of the investors came from the private sector and these are basically individuals who work for the private companies,” Ms Narayan said.

“By age, it was mainly from 26 to 35 years; of course it is closely followed by the retirees and the age between 36 and 55.”

Ms Narayan said the stock exchange would further concentrate on the area of age group between 18 to 25 years to drive a culture of saving and investing.

“This is where most of our university students are for example and so we would like to really in build them with the culture of investing into shares as well.

“Because these are the people who are going to enter into the workforce, it’s important to inform them as well that savings is something that they need to do and that the stock market is also an option for them for investing.”

She also indicated that new investor by type were mostly individuals which accounted for about 78 per cent of the total new investors.

Speaking of progress and developments in SPSE, Ms Narayan highlighted that this year the exchange would organise a more comprehensive and an industry inclusive awards night.

Through this revamped awards, the SPSE will not only recognise the annual reports submitted by various organisations, but will also recognise the efforts and contribution of our stakeholders including stockbrokers, listed companies, investment advisers, institutional investors as well as individual retail investors and reward them accordingly.

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