Solid month for Aussie share managers
The median Australian share fund manager posted a solid month in October thanks to energy shares standing out in the Australian sharemarket at eight per cent, according to Morningstar.
This was followed by utilities (6.9 per cent) and healthcare (6.2 per cent) in the sector. Poorer-performing sectors included telecommunication services (-2.8 per cent), consumer staples (0.4 per cent), and information technology (0.6 per cent).
Growth Australian share strategies did better than their value counterparts during the month with S&P Australian BMI Growth Index returning 4.8 per cent, compared to the S&P Australia Value Index's 4.4 per cent.
Overall, the median Australian share fund manager recorded a 4.7 per cent increase, ahead of the S&P/ASX 300 index's 4.4 per cent gain, over the month to 31 October 2015.
Longer-term annualised returns from the median manager were 1.4 per cent over the year, 11.8 per cent over three years, and 8.1 per cent over the five years to 31 October.
The best-performing Australian share strategies over the year to 31 October were Bennelong Concentrated (27.1 per cent), Macquarie High Conviction (22 per cent), and Platypus (15.8 per cent).
Global shares also performed during the month with the median manager returning 5.9 per cent on an unhedged basis.
Antipodes (37.6 per cent), Magellan (36.7 per cent) and Carnegie (34.3 per cent) were the best-performing global share funds over the year to October.
Global equities produced the best growth asset return at 6.3 per cent, followed by global listed property (5.7 per cent), Australian listed property (5.0 per cent), and Australian shares (4.4 per cent).
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