Zenith upgrades AB fund
Zenith Investment Partners has upgraded the AB Managed Volatility Equities Fund to ‘highly recommended’ from the ‘recommended’ rating which was first assigned by Zenith in July, 2016.
AB’s chief executive, Australia, Jen Driscoll said that during that time the fund managed to deliver significant outperformance with lower volatility than investors would have experienced on the broader share market.
According to its strategy, the fund aimed to outperform its benchmark over time but with less volatility than the market by suffering only 50 per cent of any downside while participating in 80 per cent of the upside.
The fund, which charges a management fee of 0.55 per cent a year, earned a total return of 13.02 per cent annualised, from inception to May, 31, 2018, outperforming the S&P/ASX 300 Franking Credit Adjusted Daily Total Return Index by an annualised 4.21 per cent after fees, the firm said.
Zenith praised the fund for its investment personnel and its capabilities and said it had “a high degree of confidence that the fund will continue to deliver on its objectives”.
AUTHOR
Oksana Patron
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.
