Local share market posts positive performance: Morningstar
Investment strategies for Australian institutional investors posted mostly positive results for the September quarter spurred on by a strong local share market.
According to the Morningstar Australian Institutional Sector Survey, the local market grew by 2.2 per cent over the month and 8.8 per cent over the three months ending 30 September.
The best-performing sectors over the month to September were materials (8.3 per cent), resources (6.4 per cent) and healthcare (3.5 per cent).
Meanwhile, energy stocks fell 0.6 per cent, along with consumer staples (-0.7 per cent) and utilities (1.5 per cent), the report stated.
While the month to 30 September saw the median Australian share fund manager underperform the S&P/ASX300 Accumulation Index by 0.2 per cent, they produced an average of 14.5 per cent over the year and 1.6 per cent over three years to 30 September.
The best performing strategies over the three years to 30 September were Investors Mutual (7.9 per cent), Fidelity (4.8 per cent) and Schroders (4.2 per cent).
According to the survey, international share funds fared a little better than local strategies, returning 2.2 per cent over the month, 13.8 per cent over 12 months and 2.1 per cent over three years.
The Australian property securities sector returned 1.3 per cent over the month to September 2012 with Legg Mason (9.0 per cent), Zurich (8.7 per cent) and Maxim (7.1 per cent) posting the best returns.
Recommended for you
Global asset manager BlackRock has identified bringing private markets to the wealth channel as a key business area for the firm that could generate US$500 million in revenue in the future.
Flows into cash and fixed income ETFs soared in May, rising from $366 million in April to more than $1.3 billion, data from Betashares shows.
Quinbrook Infrastructure Partners has promoted its Australian head to the role of chief executive of the global investment manager.
UK-based fund manager Royal London Asset Management has appointed a Sydney-based head of regional sales as it embarks on a multiyear plan to expand its presence internationally.
