Domestic growth assets less than stellar
Domestic growth assets recorded poor results in May this year, according to Morningstar's Australian Institutional Sector Survey.
The survey, which provides coverage of the performance of Australian institutional investment strategies to 31 May 2013, found the Australian shares index was down -4.5 per cent
The median Australian share fund manager outperformed the index only slightly with a return of -3.9 per cent.
However, the return over the financial year to date still sits at 24.9 per cent.
According to Morningstar, the best performers in this sector were Millinium, Dalton Nicol Reid and Investors Mutual.
"International shares provided the highlight of the month of May with an 8.8 per cent return," Morningstar stated.
"Australian real estate investment trusts returned -3.7 per cent and global property -5.7 per cent."
Magellan, Orbis and Wellington were the best-performing international share strategies over the three years to end of May, 2013.
Property also provided negative returns for the month, but grew 13.4 per cent over the last three years, with Zurich, Legg Mason and APN executing the best strategies over the past three years.
Recommended for you
AMP is to launch a digital advice service to provide retirement advice to members of its AMP Super Fund, in partnership with Bravura Solutions.
Unveiling its performance for the calendar year 2024, AMP has noted a “careful” investment in bitcoin futures proved beneficial for its superannuation members.
SuperRatings has shared the median estimated return for balanced superannuation funds for the calendar year 2024, finding the year achieved “strong and consistent positive” returns.
The second tranche of DBFO reforms has received strong support from superannuation funds and insurers, with a new class of advisers aimed to support Australians with their retirement planning.
