Median managers underperform over October

The median Australian share fund manager was below par from the index return by 0.3 per cent over October, with longer-term annualised returns standing at 6.6 per cent over the year, 14.7 per cent over three years, and 8.5 per cent over five years.

The Morningstar Institutional Sector Survey showed Millinium was the top performing Australian share strategy over October (12.4 per cent), followed by Investors Mutual (10.8 per cent), and Lazard Select (10.5 per cent).

The median international share fund manager's return was 17.5 per cent over the year, and 22.2 per cent over the three years to 31 October.

Carnegie was the top performing international share fund, at 24.3 per cent, followed by Arrowstreet at 24 per cent and Perennial at 22.9 per cent.

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The median Australian property securities manager was in line with the index, gaining 16.7 per cent over the year. Principal (17.6 per cent) came out on top, followed by Ironbark (17.5 per cent) and SG Hiscock (17.1 per cent).

Among growth assets, global listed property was up 8 per cent, while Australian listed property was up 6.8 per cent. Australian shares returned 4.3 per cent while international shares recorded 0.1 per cent.

Financials was the best sector of the Australian share market over October at 6.8 per cent, followed by Australian real estate investment trust (6.5 per cent) and telecommunication services (6.2 per cent).

However energy (-3.6 per cent), resources (-2 per cent) and materials (-0.2 per cent) were the underwhelming sectors.