AAP
Investment chiefs of companies are moderately optimistic about the investment picture over the next 12 months, a new survey says.
But concerns about the slowdown of the north Atlantic economies weigh upon the minds of chief investment officers (CIO).
The inaugural Financial Services Council chief investment officer index measured 11 points for the September quarter.
The index ranges from minus 100 to 100, where a reading of zero is neutral and it is a gauge of CIOs' outlook about the investment environment over the next 12 months, but also longer time frames.
Financial Services Council chief executive John Brogden said the index gave an insight into the factors of influence on the minds of CIOs from large Australian investment companies.
"While they expressed some confidence about the Australian economy, they are concerned about the risks presented by debt and deleveraging in Europe and the US," Mr Brogden said in a statement.
"Overall, CIOs describe the investment environment as complex and fragile."
The highest rated risks identified by CIOs over the next year were a slower than expected recovery in the US economy, an ongoing slowing in Europe tied with a possible default by euro nations and an increase in regulation by governments.
Australian and international equities were considered to be the best performers over the next 12 months, according to the survey.
International property markets were expected to perform better than Australian property, while fixed income assets, both here and abroad, were tipped to underperform compared to the other investment classes.
CIOs said debt and the reduction in borrowing by companies were the most potent sources of risk over the next five years.
The Financial Services Council represents Australia's retail and wholesale superannuation, funds management and life insurance industries.
