March a forgettable month for returns
March offered little joy to investors and fund managers looking for positive signs of a market turnaround.
Australian equities were the big underperformers for March, with a loss of almost five per cent. Of the funds, Hopkins Partners, which sits around the bottom of the Intech's league table for its two, three and four year figures, was the best starter in March with a return of 0.5 per cent. The next best funds, Maple Brown Abbott and Suncorp, posted returns in the negative of -0.8 and -1.1 per cent respectively.
Of the other asset classes, none were anything to write home about, with all returns floundering between 0 and 1 per cent, except for listed property trusts, which also crossed the border into negative territory with a return of -1.4 per cent.
Even international equities, which according to Ausbil Dexia broke even at 0 per cent, actually suffered a loss of more than six per cent. International equities were saved by the falling Aussie dollar, which lost a comparable amount, thus lifting returns.
Recommended for you
Professional services group AZ NGA has made its first acquisition since announcing a $240 million strategic partnership with US manager Oaktree Capital Management in September.
As Insignia Financial looks to bolster its two financial advice businesses, Shadforth and Bridges, CEO Scott Hartley describes to Money Management how the firm will achieve these strategic growth plans.
Centrepoint Alliance says it is “just getting started” as it looks to drive growth via expanding all three streams of advisers within the business.
AFCA’s latest statistics have shed light on which of the major licensees recorded the most consumer complaints in the last financial year.
