Allan Gray, AB Australian Value, Maple-Brown Abbott Best-Performing Australian Share Managers – Morningstar

23 March 2017

Australian share fund managers generally posted positive results over the month of February. The median Australian share manager returned 2.0 percent for the month, and was up 20.4 percent over the year to 28 February 2017, although behind the S&P/ASX 300 index’s 22.0 percent. Longer-term annualised returns from the median manager were 7.3 percent over three years, 11.6 percent over the five years, and 5.6 percent over the 10 years to 28 February 2017. The best-performing Australian share strategies over the year were Allan Gray (38.8 percent), AB Australian Value (31.4 percent), and ​Maple-Brown Abbott (30.6 percent).

Global share strategies lagged Australian shares in aggregate over the year to 28 February 2017. The median manager returned 12.6 percent on an unhedged basis. Longer-term median results were 10.9 percent over the three years, 17.2 percent over the five years and 5.1 percent over the 10 years to 28 February 2017. Orbis (25.8 percent), Platinum (20.8 percent), and Johnston (20.2 percent) were the best-performing global share funds over the year.

The median Australian property securities manager gained 9.8 percent over the year, above the index’s 7.9 percent. Folkestone Maxim (13.7 percent), SGH (12.4 percent), and UBS (12.1 percent) were the best performers.

Growth assets produced generally positive results over the month of February. Australian listed property was the best-performing growth asset class (4.1 percent), followed by global listed property (3.2 percent), Australian equities (2.2 percent), and global equities (1.4 percent).

Value Australian share strategies did better than their growth counterparts over the year. The S&P Australia BMI Value Index returned 30.5 percent compared to the S&P Australia BMI Growth Index’s 15.2 percent.

Consumer staples (6.0 percent) was the standout sector of the Australian sharemarket in February 2017, followed by financials (4.1 percent), and healthcare (3.9 percent). Poorer-performing sectors included resources (-3.4 percent), materials (-3.2 percent), and telecommunication services (-3.1 percent).

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