Credit Suisse tops performance list
Credit Suisse has enjoyed the highest returns among its 33 competitors for the fi-nancial year to date, according to the latest InTech growth funds survey.
Credit Suisse has enjoyed the highest returns among its 33 competitors for the fi-nancial year to date, according to the latest InTech growth funds survey.
Despite a sluggish start to 2000 that saw the average growth pooled fund that saw the average fund drop to 5.4 per cent for the financial year to date, Credit Suisse returned 8.3 per cent, ahead of AUSBIL (8.2 per cent), BNP (7.2 per cent) and Schroders (7.1 per cent).
Among the less impressive performers for the financial year to date were AM Cor-poration (1.8 per cent), SMF (2.1 per cent) and Hopkins Partners (2.5 per cent).
All balanced pooled funds had a bad time in January with the average fund losing about 1.4 per cent for the month. Suncorp and the Commonwealth Bank came away the least battered, losing 0.7 per cent for the month. AM Corp were not quite so luck, losing 2.2 per cent for the month.
The funds overall performed slightly better than the Australian share market last month which, despite rising 10.9 per cent for the year to January, dropped 1.8 per cent in January. InTech attributes this drop to speculation surrounding interest rate rises.
The fall in the Australian share market mirrored overseas trends. In January, the US share market fell 2.9 per cent while the Japanese market fell 1.9 per cent. Europe (ex UK) didn’t fare much better, falling 3.9 per cent, while the UK share-market dropped 6.8 per cent for the month.
The ASX Australian Listed Property index also fell 3.4 per cent in January, while Australian fixed interest dropped 0.2 per cent during this period.
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