1、Prepare for ChangeForging ahead:Revitalising Australias Equity Capital MarketsJune 2024PrefaceAUSIEX and our parent Nomura Research Institute,Ltd(NRI)have a shared view that a technology company cannot forecast and plan for its own strategic future unless it can research and comprehend the trends sh

2、aping its future.It was with this principle in mind that in 2023,I introduced the first AUSIEX research paper with the theme On the Precipice of Change,with a focus on the imminent full retirement of the Baby Boomer generation and the impact of this change on the wealth management industry over the

3、medium term.The paper highlighted that the wealth management industry in Australia responded to the need to change from the old defined benefit corporate pension system with uncapped liabilities to the defined contribution superannuation system that we have today,adapting to the changing economic an

4、d social environment.One major change that the superannuation system is experiencing is the requirement to focus on the dual needs of the retiring generation while still serving its core purpose,which is to grow and manage wealth for the generations currently in the workforce.Industry and media cove

5、rage over the past twelve months shows that these issues are indeed becoming front of mind for regulators and policy makers,encouraging the industry to focus on the liquidity and servicing issues that are arising for those exiting the system.This is a good sign of the ability of the industry to evol

6、ve and respond effectively to challenges before they become problems.However,the broader and more difficult challenge is to deliver on the need of the following generations to see the same,if not better,growth and wealth creation opportunities as experienced by the generation that came before them.T