The best and worst of Pendal
With the release of Pendal’s full-year profit results to 30 September, 2020, Money Management looks at the best and worst performers from the investment firm over the last year.
Pendal released its results yesterday, showing an 8% decline in funds under management (FUM).
When it comes to performance of the firm’s fund range, the best-performing Pendal fund was Pendal High Alpha Fixed Income which returned 25.47%, according to FE Analytics over the previous 12 months to 30 September, 2020.
Emilio Gonzalez, Pendal chief executive, said: “What happens when you get these quick movements is your performance of your range of funds will be spread across a wide spectrum.
“That’s exactly what happened, for different reasons. Those that are performing well have characteristics of being able to move quicker, respond quickly and adjust.”
Best-performing Pendal funds over the last year to 30 September 2020
|
Fund |
Sector |
Return |
|
High Alpha Fixed Income |
Alternatives |
25.47% |
|
Equity – Asia Pacific ex Japan |
19.24% |
|
|
Equity – Australia small/mid cap |
14.87% |
|
|
Equity – global |
10.66% |
|
|
Equity – North America |
5.82% |
|
|
Equity – Asia Pacific single country |
5.81% |
|
|
Fixed Interest – Global Bond |
4.72% |
|
|
Fixed Interest – Global Bond |
4.19% |
|
|
Fixed Interest – Australian Bond |
4.18% |
|
|
Fixed Interest – Australian Bond |
3.79% |
Gonzalez said the firm had several funds that weren’t delivering and were behind their benchmark.
“But they’re mainly as a result of strategies that are entrenched in how they run money and their philosophy to clients, and most of those have a value bias,” Gonzalez said.
Worst-performing Pendal funds over the last year to 30 September 2020
|
Fund |
Sector |
Return |
|
Equity - Australia Geared |
-31.77% |
|
|
Property - Global |
-20.77% |
|
|
Equity - Australia |
-15.21% |
|
|
Equity - Europe |
-13.90% |
|
|
Equity - Global |
-11.06% |
|
|
Alternative |
-10.57% |
|
|
Alternative |
-9.82% |
|
|
Property - Australia Listed |
-9.80% |
|
|
Property - Australia Listed |
-9.76% |
|
|
Equity - Australia |
-7.55% |
Gonzalez said what was important was the firm’s ability to continue to pay dividends in the current environment.
“We’ve been able to continue to pay dividends within our policy that we’ve had in place for the last 13-15 years,” Gonzalez said.
The final dividend of 22 cents per share (cps) brought down the full-year dividend to 37 cps, an 18% decline.
Best-performing Pendal funds over the last year to 30 September 2020
AUTHOR
Chris Dastoor
Recommended for you
Amid a growing appetite for alternatives, investment executives have shared questions advisers should consider when selecting a private markets product compared to their listed counterparts.
Chief executive Maria Lykouras is set to exit JBWere as the bank confirms it is “evolving” its operations for high-net-worth clients.
Bennelong Funds Management chief executive John Burke has told Money Management that the firm is seeking to invest in boutiques in two specific asset classes as it identifies gaps in its product range.
Responsible investment performance concerns have lessened as the market hits $1.6 trillion in AUM, according to RIAA’s annual report, but greenwashing fears among asset managers are on the rise.
