Platypus tops Mercer’s Australian share manager rankings

Platypus Long Only Australian Equity fund was the top performing Australian share fund manager in 2006, returning 39.4 percent for the year, compared to a median one-year fund return of 24 per cent in the Mercer Australian Shares survey.

BT Focus ranked second in the Mercer survey, returning 35.2 per cent, beating BGI Equitised Long Short Fund into third place on 33.4 per cent, and Perpetual Ethical into fourth, with a return of 33.2 per cent.

The median of the Mercer Australian Shares Survey for one year was 24 per cent, three years at 25.3 per cent, and five years at 16 per cent, compared to the S&P ASX 300 Index median of 24.5, 24.9 and 15.4 per cent respectively.

This year’s performance results have to be seen in the context of all but five of the 114 surveyed managers in the Mercer universe producing a return of 20 per cent or more for the year.

It was a year in which the Australian share market posted its fourth double-digit calendar year return in succession, the market rising by more than 140 per cent since the start of the current rally in early 2003.

Australian share managers also produced the highest three-year calendar year returns in 2006 since 1993 (when the median rolling three-year return was 26.9 per cent per annum), and this year’s return has boosted the five year number to above 15 per cent per annum.

Overseas markets also performed strongly (+11.5 per cent) in 2006, after posting a 16.8 per cent return in 2005 for Australian investors, and now have produced a 12.7 per cent per annum return over three years.

Deutsche Thematic fund was the top performing overseas fund on the Mercer 2006 global shares table, returning 22.9 per cent over one year, and in the process improving on its second place ranking in 2005.

Bernstein Strategic Value fund placed second in 2006, returning 22.8 per cent, beating sister fund Bernstein Value into third place with a return of 20.3 per cent. EQT Intrinsic Value placed fourth on 19.5 per cent.

The median of the Mercer Overseas Shares Survey was 12.2 per cent (one year), 13.3 per cent (three years), and 1.4 per cent (five years), and the MSCI World Australia Index 11.5 per cent, 12.7 per cent and 0.6 per cent respectively.