Big appetite diminishing

fund-manager/colonial-first-state/cent/credit-suisse/money-management/

2 September 1999
| By Stuart Engel |

The Australian sharemarket's appetite for large companies with strong growth prospects appears to be diminishing.

The Australian sharemarket's appetite for large companies with strong growth prospects appears to be diminishing.

In the past six months, value stocks have performed better than growth stocks while small capitalisation stocks have out performed large cap stocks.

According to figures released by Intech, Australian value stocks have returned 8.2 per cent in the six months to July 31 compared to growth stocks, which have returned 4.6 per cent. Small cap stocks have gained 8.4 per cent while large caps have returned 5.9 per cent.

And the change in fortunes has dragged down some of the top performers in Aus-tralian equities over recent times. <I>Money Management's<I> fund manager of the year, Colonial First State, has seen a reversal of fortunes over the past three months. While its flagship Colonial First State Imputation Fund is still the number one performer over the past year, it has slipped to the back of the field in the past three months to 46th of 49 funds measured by Intech. Other top per-formers such as Credit Suisse and Mercantile Mutual have also suffered over the past three months.

On the other hand, fund managers who have languished at the bottom of perform-ance tables over the past year or so are making a resurgence.

Hambros Hopkins is the top performer over the three months to July 31 while Mac-quarie and Tyndall are hot on their heels.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

1 month 3 weeks ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

2 months ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

4 months ago

Entireti has unveiled the new name for the AMP financial advice businesses that it acquired last year....

4 weeks ago

A Sydney financial adviser has been permanently banned from providing any financial services, with the regulator deriding his “lack of integrity, trustworthiness and prof...

2 weeks 6 days ago

Minister for Financial Services, Stephen Jones, has provided further information about the second tranche of the Delivering Better Financial Outcomes (DBFO) reforms....

1 week 5 days ago

TOP PERFORMING FUNDS