Barclays balanced fund is best
Barclays Diversified Growth was the star performer in Mercer’s pooled fund survey for the quarter to June 30, returning 3.8 per cent, against a median 3.2 per cent.
Barclays was also the survey’s top performer in the three years to June 30, returning 10.2 per cent, and placed fourth in the one year rankings, returning 14.6 per cent.
This compares with the survey’s median fund return of 13.2 per cent for the 2004-2005 financial year, and a median 8.5 per cent over three years to June 30.
The survey’s top-ranking fund for the 2004-05 financial year was Perpetual PST Balanced Growth, returning 15.4 per cent, followed by AMP Capital Balanced Growth (15.1 per cent), and Ausbil Dexia Balanced (14.9 per cent).
BT Active Balanced PST and Suncorp Balanced shared second place, behind Barclays, in the survey rankings over three years, both returning 9.6 per cent
Suncorp Balanced also placed second behind Barclays in the quarter to June 30, returning 3.7 per cent, while Tyndall Premier Growth place third on returns of 3.5 per cent.
The 13.2 per cent median returns for 2004-05 follows a median 14.2 per cent for 2003/04 and a disastrous 2002-0303, when the median fund returned a negative 2 percent.
Mercer said in its survey report that 2004-05 has been a “prosperous year” for superannuation investors, with each of the year’s four quarters producing good returns (2.0 per cent, 6.2 per cent, 1.3per cent and 3.2 percent).
Recommended for you
The FSCP has announced its latest verdict, suspending an adviser’s registration for failing to comply with his obligations when providing advice to three clients.
Having sold Madison to Infocus earlier this year, Clime has now set up a new financial advice licensee with eight advisers.
With licensees such as Insignia looking to AI for advice efficiencies, they are being urged to write clear AI policies as soon as possible to prevent a “Wild West” of providers being used by their practices.
Iress has revealed the number of clients per adviser that top advice firms serve, as well as how many client meetings they conduct each week.
