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Poor results for Aussie share managers
Australian share fund managers generally posted poor results in August with the median Australian share manager falling 1.2 per cent for the month, according to Morningstar's institutional sector survey.
However, the share fund managers were up 10.8 per cent over the year to 31 August 2016, ahead of the S&P/ASX 300 index's 9.7 per cent.
The best-performing Australian share strategies over the year were Allan Gray (33.2 per cent), Bennelong Concentrated (32.4 per cent), and Hyperion (28.4 per cent).
The median global share manager returned 0.8 per cent on an unhedged basis, with Orbis taking the lead at 11.2 per cent, followed by Antipodes (10.6 per cent), and Colonial First State (7.9 per cent).
The survey found growth assets had produced mixed results over the month, with global equities performing best at 1.3 per cent. Australian equities followed at -1.6 per cent, global listed property at -2.6 per cent, and Australian listed property at -2.8 per cent.
The median Australian property securities gained 26.5 per cent over the year, slightly above the index's 25.9 per cent.
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The super fund announced that Gregory has been appointed to its executive leadership team, taking on the fresh role of chief advice officer.
The deputy governor has warned that, as super funds’ overseas assets grow and liquidity risks rise, they will need to expand their FX hedge books to manage currency exposure effectively.
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The super fund has announced that Mark Rider will step down from his position of chief investment officer (CIO) after deciding to “semi-retire” from full-time work.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
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1
DomaCom DFS Mortgage
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2
Global X 21Shares Bitcoin ETF
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3
UBS Solactive Global Pure Gold Miners UCITS ETF Dis USD
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Global X GlobalX FANG+ ETF
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5
Select Baker steel Gold Institutional
43.78 3 y p.a(%)
