Lazard tops Aussie share manager tables
By Liam Egan
LazardAsset Management dominated MercerInvestment Consulting’s specialist Australian share manager tables for May.
The Lazard Select Australian Equity Fund returned 8.3 per cent for the month, taking out first place on Mercer’s survey ranking, while the Lazard Australian Equity Funds returned 5.8 per cent, placing second.
ABN AMRO Australian Equity came in third returning 4.7 per cent, followed by Goldman SachsJBWere Asset Management, which returned 4.6 per cent.
The survey found large cap stocks returned 3.3 per cent during May, outperforming small cap stocks, on 3.2 per cent, and mid cap stocks (2.7 per cent).
Lazard’s performance helped the median active Australian equities manager to outperform the S&P/ASX300 by 0.1 per cent over the month, pushing median outperformance over the past 12 months to 1.7 per cent (before fees).
Australian equity returns on the local bourse during May were 3.2 per cent and now stand at 23.5 per cent for the past 12 months.
Lazard’s fund returned 35.5 per cent over that time, followed by MIR with 33.5 per cent.
Overseas shares returned 3.6 per cent on aggregate in local currency terms during May, and 4.9 per cent in Australian dollar terms, as the Australian dollar fell over the month of May.
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