ROUNDTABLE - Australian equity investment: where is the golden run headed?

After a spectacular rise in 2005 – and respectable returns so far this year despite the recent corrections – it seems fair to ask just how much further the bull market in Australian equities has to go. The proposed merger between SFE Corporation Limited (SFE) and Australian Stock Exchange Limited (ASX), who recognize that they face potential challenges from "global exchange consolidation", raises other questions. Asiamoney asked four of the leading institutional investors in Australia, and of one of the major stockbrokers, for their views.