SMSFs eye cyber security stocks for long-term growth
With the threat of data breaches becoming more prevalent, many SMSFs are looking to obtain exposure to global cyber security companies, according to one ETF provider.
BetaShares managing director Alex Vynokur said SMSFs are increasingly recognising the need to diversify away from the Australian market and many of them are now accessing more specific sectors overseas with long-term, secular growth trends.
“The Australian market is very much dominated with resources and financials and when people think about the future, sectors such as technology and healthcare are very topical to investors,” he said.
Mr Vynokur said he has seen quite a shift towards the technology and healthcare sectors, and in the past 12 months, global cyber security.
“Cyber security was not previously an industry that was considered to be a major growth trend but given that more and more of our life is being spent online and more of our information is online, cyber security has become quite an important sector,” he said.
“We've seen Australian SMSF investors look to gain exposure to that growth sector.”
This news come as the Reserve Bank of Australia (RBA) issued a public caution to prospective candidates on its careers page, following an IT and security breach from its third-party HR platform provider PageUp.