Australian equities shine in June
Australian equities was the place to be in June, as the S&P/ ASX 300 rocketed 8 per cent over the month.
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 per-former, 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 su-perannuation 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.
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