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0.General, 1.Market Observations

16 Nov 2012 (AFR) – Top fund prospers by bucking trends

[COMMENT: Another article on the performance of managed funds, to be taken with the same grain of salt – make sure to review the longer term performance figures. In the table in the article, the 5 year performances for the “best” ten funds range from -0.9%pa up to a max of 1.6%pa, with several rated as “n/a”.]

(16 Nov 2012, AFR, p18, Jason Murphy)

‘Investors Mutual is the top-scoring long-only fund manager for the past 12 months, achieving a return of 19 per cent and beating the median return of Australian equities stock pickers of 10.2 per cent, and the S&P ASX 300 Index, which posted a return of 9.9 per cent, according to Mercer.’

‘Investors Mutual portfolio manager and head of research Hugh Giddy said the key was to be nimble and independent, which translated to outperformance in tougher markets. Investors Mutual’s Australian shares fund is valued at $1.5 billion. The company has $3.5 billion under management in six funds.’

Read more at AFR.com (might need AFR login access)

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