Australian share managers face rough November
Australian share fund managers and global share strategies had a tough November, with majority of Australian share managers seeing results between 3.9 to -10.2 per cent over November, according to the Morningstar Australian Institutional Sector Survey.
The median Australian share fund manager dropped 0.2 per cent over November, ahead of the S&P/ASX 300 index's -0.7 per cent.
Longer-term annualised returns for the median manager were four per cent over the year, 11.6 per cent over three years, and 8.3 per cent over five years to November.
Bennelong Concentrated (29.5 per cent) was the best performing Australian share strategy, followed by Macquarie High Conviction (24.9 per cent) and Platypus (20.6 per cent).
The median global share strategies manager returned -2.0 per cent on an unhedged basis, while longer term median results were 17.6 per cent over the year, 26 per cent over the three years and 15.5 per cent over the five years to November.
Antipodes was the best performer at 28.3 per cent, followed by Magellan (24.3 per cent) and Johnston AM (22.5 per cent).
Growth Australian share strategies raced ahead of their value equivalent, with the S&P Australia BMI Growth Index returning 0.7 per cent compared to the S&P Australia BMI Value Index, which returned -2.3 per cent.
Healthcare was the best performing sector at 5.2 per cent, followed by information technology (4.5 per cent), and financials (1.6 per cent). The resources sector performed poorly at -11.8 per cent.
AUTHOR
Malavika Santhebennur
Recommended for you
The $673 billion global investment manager has appointed a former Zenith sales head as it seeks to expand its reach in the Australian wealth management market.
Fund managers may be operating in a squeezed environment, but a salary guide shows they are willing to pay up for specialist talent to diversify their fund range.
Reach Alternative Investments has entered into a strategic partnership with Russell Investments to bolster its wholesale private markets offering for financial advisers and investors.
Boutique investment consulting and research house Genium Investment Partners has announced a senior appointment to drive further growth in its research ratings business.
