Median managers underperform over October
The median Australian share fund manager was below par from the index return by 0.3 per cent over October, with longer-term annualised returns standing at 6.6 per cent over the year, 14.7 per cent over three years, and 8.5 per cent over five years.
The Morningstar Institutional Sector Survey showed Millinium was the top performing Australian share strategy over October (12.4 per cent), followed by Investors Mutual (10.8 per cent), and Lazard Select (10.5 per cent).
The median international share fund manager's return was 17.5 per cent over the year, and 22.2 per cent over the three years to 31 October.
Carnegie was the top performing international share fund, at 24.3 per cent, followed by Arrowstreet at 24 per cent and Perennial at 22.9 per cent.
The median Australian property securities manager was in line with the index, gaining 16.7 per cent over the year. Principal (17.6 per cent) came out on top, followed by Ironbark (17.5 per cent) and SG Hiscock (17.1 per cent).
Among growth assets, global listed property was up 8 per cent, while Australian listed property was up 6.8 per cent. Australian shares returned 4.3 per cent while international shares recorded 0.1 per cent.
Financials was the best sector of the Australian share market over October at 6.8 per cent, followed by Australian real estate investment trust (6.5 per cent) and telecommunication services (6.2 per cent).
However energy (-3.6 per cent), resources (-2 per cent) and materials (-0.2 per cent) were the underwhelming sectors.
AUTHOR
Malavika Santhebennur
Recommended for you
Infrastructure assets are well-positioned to hedge against global uncertainty and can enhance the diversification of traditional portfolios with their evergreen characteristics, an investment chief believes.
Volatility in US markets means currency is becoming a critical decision factor in Australian investors’ ETF selection this year.
Clime Investment Management is overhauling the selection process for its APLs, with managing director Michael Baragwanath describing the threat of a product failure affecting clients as “pure nightmare fuel”.
Global X will expand its ETF range of exchange-traded funds next month with a low-cost Australian equity product as it chases ambitions of becoming a top issuer of ETFs in Australia.
