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
With active ETFs becoming the latest choice as fund managers target the retail audience, their high fees may be a detractor as research finds investors are shunning those priced any higher than 50 bps.
The possibility of a dissenting vote from shareholder L1 Capital has led Platinum Asset Management to scrap its conversion plan for the $450 million Platinum Capital LIC into an ETF.
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.
