The heavier exposure of industry funds to unlisted assets has again seen them outperform their retail counterparts during the March quarter, according to the latest data from Chant West.
The data pointed to industry funds returning -0.6 per cent, compared to a -1.6 per cent result on the part of retail funds.
Chant West principal, Warren Chant attributed the outperformance to the industry funds' higher allocations to unlisted assets such as unlisted infrastructure, unlisted property, and private equity which had outperformed listed markets over the period.
"Australian and international share markets, which are down 9.3 per cent and 4.4 per cent, respectively, over the past year, are marked to market. However, unlisted assets are valued infrequently with their valuations typically lagging listed markets by six to nine months," the Chant West analysis said.
Michael Lovett, who left the investment firm just three months after launching its Vanguard Super offering, has taken up a chief executive role at an Australian asset manager.
The Central Bank of Ireland has granted the approval of Equity Trustees’ exit from its Irish operations, with the transaction expected to be complete on 30 April.
Super returns continued to climb in March, raising hopes of delivering double-digit returns by June depending on the performance of this next quarter.
The dedicated super fund for emergency services and Victorian government employees is under fire for unpaid entitlements to transport employees, which could exceed $40 million.
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