Survey Bouquet For Bnp
The Age
Saturday August 8, 1998
Funds with strong industrial and offshore bias outperformed in the latest Intech superannuation-pooled survey released yesterday.
While ANZ had the best balanced fund performance this calender year, returning 10.1 per cent against an industry average 7.3, the leader in the benchmark three-year timeframe is the boutique fund manager BNP - returning 16.1 per cent.
ANZ benefited from a combination of industrial shares and an overweight position in offshore equities - which returned 37.5 per cent on an unhedged basis over the year.
Other strong performers over three years were Mercantile Mutual, returning 15.6 per cent, Zurich with 14.5 per cent and Credit Suisse returning 14.3 per cent.
Funds that were overweight in bank and media stocks did well, with the bank sector returning 22 per cent over the year and the media sector 60 per cent.
The worst-performing funds over three years were Prudential (11.8), GIO (12.1 per cent) and AMP Balanced (12.3 per cent).
© 1998 The Age