Credit Suisse tops balanced survey
Credit Suisse has retained its number one spot for growth focussed balanced super-annuation funds, topping the Intech survey for the year to March 31.
Credit Suisse has retained its number one spot for growth focussed balanced super-annuation funds, topping the Intech survey for the year to March 31.
Credit Suisse returned 13.7 per cent for the year to March 31, ahead of Colonial First State (12 per cent) and Ausbil Partners (11.8 per cent). The top 18 managers all outperformed the All Ordinaries index for the year which returned 9.3 per cent, however, 15 managers also failed to outperform. The three worst performers for the year to March 31 were Hopkins Partners (2.7 per cent), IOOF/ Perennial (6 per cent) and Salomon Smith Barney’s balanced fund (6.1 per cent).
While Credit Suisse remains number one on one year numbers, BNP Asset Man-agement had a strong March, bringing it to the number one spot for the first nine months of the financial year. BNP has returned 13.4 per cent in the first nine months, nudging ahead of Colonial First State (13.3 per cent) and Credit Suisse (12.8 per cent).
BNP was the outstanding performer for March recording 3.1 per cent for the month, however, Advance scored a major turnaround with 2.8 per cent and Nor-wich performed strongly with 2.6 per cent growth for the month.
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