Best performing sectors of 2007-08
Energy and materials were the only sectors in Australia to produce positive returns during the 2007-08 financial year, according to the latest Mercer Sector Survey.
The energy sector delivered 41.7 per cent during the period, while materials produced a 20 per cent return, both fuelled by rising oil and commodity prices, which actually hindered the rest of the market.
Further pressure resulting from the global credit crunch saw the Australian share market suffer its largest decline since 1982.
However, investors favouring large cap stocks would have been slightly better off that those concentrating on smaller companies, which delivered a -20.5 per cent return compared to the 11.8 per cent return of large caps.
The Mercer report also revealed that overseas shares that were unhedged in Australian dollars returned -21.3 per cent, while a fully hedged investor received a return of -13.7 per cent due to the continued appreciation of the Australian dollar against most major currencies.
As with the Australian market, the energy and materials sectors were the only positive performers on an international scale.
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