The AFR is feeding the panic:
Foreign investors say the Turnbull government’s snap Royal Commission into the Australian financial services sector is a new deterrent to investing in the country’s banks and will further challenge their profit growth at a time of elevated risks in the property market.
UK-based Invesco Perpetual fund manager Tim Dickson said he was more hesitant to add to the firm’s relative small exposure to Australian bank shares, especially after the surprise $6.2 billion bank tax announced in June.
