April 2017
The S&P/ASX 300 Accumulation Index added 4.71% for the March quarter, with Health Care and Utilities the top-performing sectors. Telecommunications was the only sector to record a negative return for the period.
For the quarter, our flagship Australian shares portfolio returned 5.50%, outperforming the index. Our overweight position in both Consumer Discretionary and Information Technology, together with our underweight position in Real Estate, were the key drivers of our outperformance.
Aristocrat Leisure, AGL and Computershare all added value during the period. Computershare’s share price rose 12.8% while AGL continued to benefit from rising electricity prices.
Worst of the capital expenditure wind-down over
The Australian economy remains in a modest growth environment with the worst of the resource/energy capex wind-down now over, services continuing to grow and housing likely starting to roll over.
We continue to remain confident several turnaround stories we have been following are likely to gain traction.
View the March 2017 reports