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ETFs have “well and truly taken over from actively managed funds” in investor preference for growth investments, advisers say – but when it comes to cash, they recommend eschewing the increasingly popular ETFs in favour of direct investments.

An explosive report by activist short seller Hindenburg Research led Adani Group to shelve a planned US$2.5 billion equity sale and wiped $120 billion from the multinational conglomerate’s market value. While activist short reports should be taken with a grain of salt, market observers said, some of Hindenburg’s key claims are likely valid – including that Adani was vastly overpriced.

The announcement comes amid a major push into the domestic market for Global X, which in December signaled its intention to launch 10 new products in 2023.

Analysts agree Australia’s big four banks are entering 2023 from a position of strength as they pass on rising interest rates to borrowers. However, headwinds remain, and the total return picture for shareholders looks more complex.

Australians are being hit hard by rising interest rates as banks seek to keep pace by lifting borrowing costs, and the RBA’s latest move will only add to the pain. Mortgage payments for employee households soared 27 per cent in the December quarter alone, and further increases are expected.

Markets have moved sharply to reprice Chinese assets upwards after the world’s second-largest economy signalled its reopening. However, some doubt the sustainability of the current bull market, saying key ingredients for a lasting recovery are missing.

Gold has never held strong investment appeal for SMSFs, despite being seen as a hedge against inflation. With the precious metal beginning a so-far volatile 2023 full of steam, SMSFs looking to preserve capital have several reasons to consider incorporating gold into their portfolios.

With economists expecting the Australian dollar to strengthen this year, investors are looking to currency-hedged funds to remove FX exposure that threatens to erode the value of their international investments.

A drop-off in IPO activity over the second half of last year appears likely to continue into 2023, as companies look to ride out market uncertainty by staying private for longer. Small-cap listings dominate the light pipeline, while public and pre-IPO opportunities are garnering more investor interest.

Exchange-traded funds continued to attract inflows from investors in 2022, albeit at a slower pace thanks to rising interest rates and market volatility. Resources and mining-focused funds were clear standouts in a challenging year.

The prudential regulator will more closely examine the valuation methodologies super funds deploy to value private assets to address an emerging gap between the performance of listed and unlisted property.

The federal government is seeking feedback on proposed changes to rules aimed at preventing non-arm’s-length transactions by superannuation funds, in a bid to address concern that SMSFs and smaller funds that breach the provisions could be disproportionately penalised.