Hyperion turns quarterly results around
Brisbane-based Hyperion Flagship Investments has turned around what was its worst period of investment performance relative to the market over the June quarter to outperform the market by 10.1 per cent over the quarter to September.
The company attributed the improved quarterly result to a slight re-weighting of asset allocations as well as its underweight position in resource companies, due to the high risk nature of the mining business and the volatility of revenues, and a return to quality businesses.
However, despite outperforming the market for the September quarter, shareholders had seen a decline in the net asset value (NAV) per share of 36 per cent — up 6.1 per cent on the June quarter results. The company said the difference in the performance as compared to the portfolio return was primarily due to the dilutive effect of the large placement undertaken at a 7.25 per cent discount to the NAV in October 2007.
Recommended for you
The month of April enjoyed four back-to-back weeks of growth in financial adviser numbers, with this past week seeing a net rise of five.
ASIC has permanently banned a former Perth adviser after he made “materially misleading” statements to induce investors.
The Financial Services and Credit Panel has made a written order to a relevant provider after it gave advice regarding non-concessional contributions.
With the election taking place on Saturday (3 May), Adviser Ratings examines how the two major parties could shape the advice industry in the future.
