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
Bell Financial Group has appointed a chief investment officer who joins the firm from Clime Investment Management.
Private markets funds with “unattractive practices” could find themselves facing enforcement activity with ASIC chair Joe Longo stating he cannot rule it out in the future.
Despite ASIC concerns about private credit funds being accessed via the advised channel, there are questions regarding how high its usage actually is among financial advisers.
Challenger has looked to the superannuation industry for its appointment of a group chief investment officer, a newly-created role.
