Domestic bonds take pole position
During a year most investors would rather forget, domestic bonds have taken out pole position as the best performing asset class for the first time since 1992, according to Morningstar research.
The Australian fixed interest index returned 14.95 per cent for 2008. It eclipsed hedged international bonds, which returned a healthy 9.21 per cent for the same period.
Meanwhile, treacherous market conditions brought active management back to the fore with over 70 per cent of Australian large-cap share fund managers in the Morningstar league tables outperforming the benchmark index return on an after fee basis.
Boutique newcomer Magellan also managed to contain its losses to 2.65 per cent in 2008, putting it at the top of the international equities league table for 2008.
Recommended for you
Family office Lederer Group has made an off-market takeover bid for ASX-listed Elanor Commercial Property Fund, with chair Paul Lederer taking exception at the firm’s lack of accountability, oversight and transparency.
Janus Henderson is actively seeking to partner with private wealth firms in Australia as it looks to expand its number of strategic partnerships, as well as focus on retirement income product development.
Global investment manager First Sentier Investors has launched an umbrella brand to provide greater clarity around its shift to a multi-affiliate asset manager encompassing six investment teams.
Janus Henderson has seen intermediary outflows in the second quarter of US$1.2 billion, although its deal with insurer Guardian means overall net flows are US$46.7 billion.
