Aust equities top figures
Australian equities was the place to be in June, as the S&P/ ASX 300 rocketed 8 per cent over the month.
A recovery in equity markets worldwide pushed up the benchmark domestic share index as well as the key US indicators. The Nasdaq index was the month's top performer, rising 16.6 per cent over the month, while a number of Asian markets posted double digit returns for the month. However, a stronger Australian dollar hurt international investments, with the sector falling 1.9 per cent in Australian dollar terms.
Listed property trusts performed well for the month, gaining 2.3 per cent while domestic and overseas bond markets also were kind to investors posting returns of 1.1 per cent and 1.9 per cent respectively.
Ausbil Dexia chief investment officer Michael Wilson says the average pooled superannuation fund will book a return of about 12.3 per cent for last financial year, while this year the group expects the average to shrink to about 6 per cent.
"We are looking to a soft landing for the global economy which, while lowering economic activity, should still produce a positive return," he says.
Wilson says Australian equities will be a solid performer in the year ahead.
AUTHOR
Recommended for you
Almost 70 per cent of asset managers are planning to control costs via product rationalisation, according to a global survey by Northern Trust, as they seek to offer clients a best-in-class experience.
Fund managers should work collaboratively with data providers to minimise greenwashing risks in their products as a positive ESG score can be a “gamechanger” for a fund’s demand with advisers.
Asset manager Janus Henderson has made two acquisitions in the ETFs and emerging markets space as it takes strategic steps to meet client needs.
Self-reporting issues to ASIC could lead to a reduced charge for a fund manager but it may not exempt them from enforcement action altogether, according to ASIC chair Joe Longo.
