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.
Superannuation funds have posted another year of strong returns, but this time, the gains weren’t powered solely by Silicon Valley.
Australia’s $4.1 trillion superannuation system is doing more than funding retirements – it’s quietly fuelling the nation’s productivity, lifting GDP, and adding thousands to workers’ pay packets, according to new analysis from the Association of Superannuation Funds of Australia (ASFA).
Large superannuation accounts may need to find funds outside their accounts or take the extreme step of selling non-liquid assets under the proposed $3 million super tax legislation, according to new analysis from ANU.
Economists have been left scrambling to recalibrate after the Reserve Bank wrong-footed markets on Tuesday, holding the cash rate steady despite widespread expectations of a cut.