Tech stocks reign supreme in North America
Tech stocks continue to dominate the major holdings for the ACS Equity – North America, despite political scrutiny for Amazon, Facebook and Alphabet (Google).
According to FE Analytics, the sector returned 16.1% from 1 November 2019, to 31 October 2019.
The top five best performing funds were VanEck – Vectors Morningstar Wide Moat ETF (23.93%), BetaShares – Geared US Equity Currency Hedged (20.94%), BetaShares – NASDAQ 100 ETF (19.91%), Pendal – American Share (19.80%) and State Street Global Advisors (SSGA) – SPDR S&P 500 ETF Trust AUD (18.73%).
The major holdings for BetaShares – Geared US Equity holding were Microsoft (4.3%), Apple (4.2%), Amazon (2.9%), Facebook (1.8%) and JP Morgan (1.6%).
BetaShares’ NASDAQ 100 ETF major holdings were Apple (11.7%), Microsoft (11.3%), Amazon (9.1%), Facebook (4.8%) and Alphabet (4.6%).
Pendal held Microsoft (4.55%), Amazon (3.87%), Alphabet (3.42%), Mastercard (2.72%) and Facebook (2.34%).
SSGA top holdings were Microsoft (4.3%), Apple (3.85%), Amazon (2.92%), Facebook (1.73%) and Berkshire Hathaway (1.65%).
In its factsheet, Pendal noted being underweight in Apple held back its performance, but being overweight in consumer-dominated areas, particularly Target, Dollar General, Altice and Fiserv helped in the quarter.
“[Apple] reported quarterly financial results that were above expectations, primarily driven by strong growth in its service and wearable revenues, which offset weaker than-expected iPhone revenues,” Pendal said.
Top five best performing funds in the ACS Equity – North America sector from 1 November, 2019, to 31 October, 2019.
AUTHOR
Chris Dastoor
Recommended for you
Clime Investment Management has welcomed an independent director to its board, which follows a series of recent appointments at the company.
Ethical investment manager Australian Ethical has cited the ongoing challenging market environment for its modest decrease in assets over the latest quarter.
Commentators have said Australian fund managers are less knowledgeable compared with overseas peers when it comes to expanding their range with ETFs and underestimating the competition from passive strategies.
VanEck is to list two ETFs on the ASX next week, one investing in residential mortgage-backed securities and the other in Indian companies.
