Local sharemarket outperforms internationals in May
The Australian share market grew by 0.85 per cent in May to vastly outperform its international counterparts, which lost more than five per cent in the same period, according toInTech Research.
In the Australian share market,TyndallValue was again the leader for the month with a return of 3.86 per cent, otherwise outperforming the benchmark by 3 per cent. Tyndall also holds the top position based on one and two year performance results, with returns of 26.45 and 25.4 per cent per year respectively.
Other top performers in May werePerennialValue, which grew by 3.58 per cent andHSBCActive, which posted 3.28 per cent. No other managers managed to scrape in over the 3 per cent mark.
Worst performance for the month was by JFCP with a loss of 1.51 per cent for the month. Ten other managers also made losses in InTech’s table of 56, with the median manager returning just over three quarters of a per cent.
International managers, meanwhile, had a rougher trot in this period, feeling the effects of an appreciating Australian dollar, according to InTech.
All managers of unhedged international shares couldn’t get out of the red for the month, withMacquariemaking the slimmest loss to top the table of 59 with negative 0.88 per cent. Next in line was Marathon with a loss of 2.61 per cent, andIOOF/Perennial, losing 2.82 per cent.
At the lower end of the list, the losses were even less flattering.Marvin & Palmerlost 6.67 per cent, Alliance Capital lost 6.48 per cent, whileABN AMROand MFS shared equal 53rd spot with a loss of 6.15 per cent.
The median manager in the group returned negative 4.71 per cent.
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