The end of FY24 has led to some big movements in the top ten stocks at Raiz with some seeing a more than 200 per cent increase in shares traded.
Trading overall for the week was 36,363 which was a 10 per cent increase on the top 10 of the week prior. Leading the charge was Insurance Australia Group ($IAG) which stormed into third position with a 223 per cent increase in shares traded. The company hasn’t been seen in the top 10 for a few weeks now.
The boost follows an announcement by the insurer of a significant deal with US-listed Berkshire Hathaway, of Warren Buffett fame. The agreement is said to provide IAG with reinsurance protection against natural perils. It’s been a solid investment this year, with shares up over 20 per cent on the year.
Goodmap Group ($GMG) is another corporation storming into the top 10 with a 209 per cent increase in shares traded. The real estate investment trust (REIT) was the best-performing ASX20 stock of 2024, with shares up over 73.8 per cent as of market close on June 28. The company is set to benefit from the AI boom due to its data centres which now represent over a third of its work-in-progress pipeline.
REITs in general outperformed the broader market over the last financial year with the sector posting a total return of 24.7 per cent against 13.5 per cent. Most of this is being driven by those data centres as office tower valuations have been the downfall for some of the other REITs on the exchange.
In fact, two other REITs on the ASX, also boosted their position amongst Raiz Investors, with Mirvac Group ($MGR) and Vicinity Centres ($VCX) both appearing in the top 10 this week. Mirvac was up 144 per cent shares traded and Vicinity was up 145 per cent. Interestingly, Mirvac was one of the REITs that dragged down the sector due to its overexposure in office towers which still haven’t come back since COVID-19 sent everyone to work from home.
Pilbara Minerals ($PLS) maintained its position in the top 10 with a 105 per cent increase in shares trading, bringing it into the top 5. On the flip-side, the real laggard of the top 10 this week was AGL Energy ($AGL) that managed to cling to the 10th stop, even after a 70 per cent drop. Still that was better than Origin Energy ($ORG), Treasury Wine Estates ($TWE), Medibank Private ($MPL) and Fortescue Metals ($FMG) which all crashed out of the top 10 list.
The ETF market also saw a 6 per cent increase in units traded amongst its top 10 despite not a huge amount of movement. Only one ETF dropped off the board from last week, the BetaShares NASDAQ 100 list which last week was number 8. Sneaking in instead into the tenth position was the Global X Semiconductor ($SEMI) which has featured in the list before.
The top four ETFs all maintained their positions this week, but instead of dropping saw an increase in their units traded. That was driven by BetaShares Global Sustainability Leaders ($ETHI) and the Russell Investments Australian Responsible Investment ($RARI) which were up 33 per cent and 28 per cent respectively.
The big drop this week was the BetaShares Australian High Interest Cash ($AAA) which dropped from 5th to 7th with a 34 per cent decrease in shares traded.
Published 5/7/2024
Don’t have the Raiz App?
Download it for free in the App store or the Webapp below:
Important Information
Raiz Invest Australia Limited – Authorised Representative of AFSL 434776. The Raiz Invest Australia Fund and Raiz Property Fund are issued in Australia by Instreet Investment Limited (ACN 128 813 016 AFSL 434776) a subsidiary of Raiz Invest Limited and promoted by Raiz Invest Australia Limited (ACN 604 402 815).
Raiz Invest Super is a Division of AMG Super and is issued by Equity Trustees Superannuation Limited (AFSL 229757, RSE Licence No L0001458) as Trustee of AMG Super.
The information is general information only and does not take into account of your personal financial situation, goals or needs. You should obtain financial advice tailored to your circumstances by a licensed financial adviser.
A Product Disclosure Statement (PDS) and Target Market Determination (TMD) for Raiz Invest Australia Fund, Raiz Invest Super and Raiz Property Fund (together, the Products) are available on the Raiz Invest website and App. Please read and consider the PDS and TMD to understand the risks and determine if the Products are suitable for you. The risks and fees are fully set out in the PDS and include the risks that would ordinarily apply to investing.
Any returns shown or implied are not forecasts and are not reliable guides or predictors of future performance.
Under no circumstance is the information to be used by, or presented to, a person for the purposes of deciding about investing in the Products.
This information may be based on assumptions or market conditions which change without notice and have not been independently verified.
Any opinions or information expressed are subject to change without notice.
Home loans are subject to approval from the lending institution and Raiz Home Ownership makes no warranties as to the success of an application until all relevant information has been provided.
Raiz Home Ownership Pty Ltd (ABN 14 645 876 937), an Australian Credit Representative number 528594 under Australian Credit Licence number 387025. Raiz Home Ownership Pty Ltd is 100% owned by Raiz Invest Australia Limited (ABN 26 604 402 815).
