Australian equity managers have had a tough year. For many, inflows were something to be dreamt of as outflows were the norm. Managers who were the darlings of financial planners a few years ago were very badly hit by considerable outflows this year.
According toAssirt,Colonial First State’s Imputation Fund saw more than $500 million leave whileBT’s Australian Share Fund lost $243 million.
The reverse side of the picture sawUBSdominate the Australian Equity Fund inflows with almost $1 billion in inflows. The global manager has been enjoying a renaissance in the Australian market with strong performance for the past couple of years. The closest rival to UBS in inflows wasDeutsche, but it was far behind with $85 million.
The rest of this year’s entries in the top five are all new compared to last year.Hunter Hall, a favourite of planners, came in at number four, while Colonial did rank fifth with a FirstChoice product.
Fund Manager/ProductInflows ($m)
1.UBS Australian Share Fund987.56
2.Deutsche Australian Equities Alpha Fund85.35
3.PM Capital Australian Opportunities Fund48.97
4.Hunter Hall Australian Value Fund46.84
5.Colonial First State FirstChoice Imputation Fund36.79
Source: Assirt, as at September quarter 2003
