Falling dollar pushes international funds
International equity investors have benefited from the Australian dollar’s habit of free falling, underpinning a staggering 8.3 per cent return for international funds in March.
International equity investors have benefited from the Australian dollar’s habit of free falling, underpinning a staggering 8.3 per cent return for international funds in March.
The fall in the Aussie dollar gave a 1.8 per cent increase for international equity investments, according to recent figures released by Ausbil Partners.
Despite slow increases on the home front, the US stock market rose 9.7 per cent using the S&P index. The Nasdaq index fell 2.6 per cent after technology stocks took a battering with a drop in market confidence.
The UK market was the top performer in Europe, up a hefty 4.9 per cent. France was also steady returning 1.5 per cent, while Germany fell 0.6 per cent.
In Asia, Thailand was the outstanding performer, returning 6.9 per cent for the month while Korea returned 3.9 per cent. Japan held its head high with a 1.9 per cent rise, while Hong Kong was up 1.4 per cent.
Australian and international bonds turned around from a lacklustre 1999. Austra-lian bonds returned 1.2 per cent in March while international bonds rose 1.5 per cent. Listed property trusts continued their downward spiral, losing 0.6 per cent for the month.
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