Strong company profits boost returns
The strong Australian economy and better than expected company profits are proving a boon to fund managers, according to the latest InTech Financial Services data.
The data says that the median Australian shares manager continued to outperform the index over the 12 months to August, with the median manager now a full one per cent ahead.
InTech says value managers are dominating their growth manager counterparts with the best performances being turned by Dimensional (27.7 per cent), PM Capital (25.6 per cent) and Bernstein (21.9 per cent).
According to InTech the Australian shares sector returned 1.1 per cent for August as measured by the S&P/ASX 200 Accumulation Index, which recorded its fourth consecutive month of gains.
It says the month was driven by stock-specific news, influenced by the reporting seasons, with most earnings coming in above expectations.
AUTHOR
Mike Taylor
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