Mercer survey sees some big names tumble
The latest Mercer sector surveys have painted a grim picture of the last financial year, including pointing to the best and worst performing Australian shares managers over the period.
According to the surveys, released this week, the top five performing Australian shares managers for 2008-09 were Fortis Long/Short, which generated a return of 6.8 per cent, Hyperion Growth, which generated a return of minus 1 per cent, Intrinsic Style Neutral, which generated a return of minus 4.1 per cent, PM Capital, which generated a return of minus 6.3 per cent and Integrity, which generated a return of minus 6.6 per cent.
Looking at the five worst-performing managers over the period, the Mercer surveys pointed to SSgA Long/Short, which returned minus 36.5 per cent, BNY Mellon 130/30, which returned minus 29.3 per cent, Macquarie Long/Short, which returned minus 28.8 per cent, Challenger Select, which returned minus 27.6 per cent, and Plato 130/30, which returned minus 27.6 per cent.
The Mercer analysis made clear that for a second consecutive year, concentration on the large cap stocks would have been beneficial while smaller companies were the worst performers.
AUTHOR
Mike Taylor
Recommended for you
Private markets may be the hot topic of the day but two financial advisers have shared the red flags to consider and why advisers shouldn’t be tempted to invest solely in the pursuit of higher returns.
The corporate regulator has officially launched its new digital portal for financial services businesses submitting AFSL applications, offering a more “efficient, modern and user-friendly” experience.
The advice community has reacted to the re-election of the Labor Party for a second term and called on the incoming Minister for Financial Services to take “decisive action” as Stephen Jones retires from politics.
Advice licensee Finchley & Kent has announced a strategic partnership with technology firm Padua Solutions as licensees are encouraged to broaden their tech usage.
