Student Investors Mark New Trend
More students are investing in the stock market ahead of those employed in the private sector, the South Pacific Stock Exchange said, in what it described as an encouraging trend.
Nineteen first-time investors were registered with the South Pacific Stock Exchange (SPX) last month, bringing to 48 the number of the new investors in the market.
The majority of interest was invested in Fijian Holdings Limited, followed by Kontiki Finance Limited, SPX said, as the market picked up pace for the month.
Other entities which attracted new investors included RB Group, FMF, Amalgamated Telecom Holdings and VB Holdings.
Fiji Television, Port Denarau Marina and The Rice Company of Fiji Limited also garnered the interest of new investors, SPX said.
“Over the past three months, ‘individual’ investors accounted for the major portion of new investors by investor type, followed by ‘trust’ type of investors,” a market announcement said.
New investors by occupation for the month of March were self-employed, trust and institution companies, SPX said.
“As for age grouping of new investors during March, it is encouraging to note that investors below the age of 18 years ranked first, occupying 27.27 per cent of the overall statistics,” SPX said.
“The investment of these investors is held under a trust account. “Investors between the ages of 26 to 35 years are ranked second.”
The majority of new investors were from the Central/Eastern Division, followed by investors based in the Western Division, SPX said. The presence of SPX and three stock broking firms in the capital city helped investors’ access services.