Aussie fund managers on par in July

Australian fund managers came in slightly below the index last month, a Morningstar report shows.

The median fund returned 4.2 per cent in the month to July 31, 0.2 per cent below the index, with annualised returns 17.2 per cent for the year, 14.5 per cent over three years and 11.1 per cent over five years.

Allan Gray (27.4 per cent), Millinium (24.7 per cent) and Bernstein Value (23.3 per cent) offered the highest returns for the month.

Materials was again the best performing sector for July, returning 7.7 per cent, followed by resources at 6.7 per cent and information technology at 5.7 per cent.

Utilities (0.9 per cent), energy (2.2 per cent), and healthcare (2.9 per cent) again returned less favourable growth.