Zenith upgrades AB fund
Zenith Investment Partners has upgraded the AB Managed Volatility Equities Fund to ‘highly recommended’ from the ‘recommended’ rating which was first assigned by Zenith in July, 2016.
AB’s chief executive, Australia, Jen Driscoll said that during that time the fund managed to deliver significant outperformance with lower volatility than investors would have experienced on the broader share market.
According to its strategy, the fund aimed to outperform its benchmark over time but with less volatility than the market by suffering only 50 per cent of any downside while participating in 80 per cent of the upside.
The fund, which charges a management fee of 0.55 per cent a year, earned a total return of 13.02 per cent annualised, from inception to May, 31, 2018, outperforming the S&P/ASX 300 Franking Credit Adjusted Daily Total Return Index by an annualised 4.21 per cent after fees, the firm said.
Zenith praised the fund for its investment personnel and its capabilities and said it had “a high degree of confidence that the fund will continue to deliver on its objectives”.
AUTHOR
Oksana Patron
Recommended for you
Perpetual has released its Q2 fund flows showing a fall back into outflows after a positive Q1, as well as an update on its planned deal with KKR.
Magellan has announced a raft of executive changes including the departure of head of investments Gerald Stack after 18 years and a second appointment from Maple-Brown Abbott.
Morningstar research of seven active Australian asset managers has found they are expected to see client redemptions averaging 3.1 per cent of their FUM per annum through to FY29, with two forecast to lose more than 10 per cent.
Franklin Templeton is to get rid of its Martin Currie branding and fold them into the wider group under ClearBridge Investments and Franklin Equity Group.
