The median Australian share fund manager recorded a 0.7 per cent return, outperforming the index return of 0.4 per cent over the month of May, says Morningstar.
In the June issue of Morningstar’s Australian Institutional Sector Survey, long-term annualised returns for median share funds were at 10.9 per cent over the year, 18.8 per cent over three years and 11 per cent over five years.
The report found that the best performing Australian share strategies over the year to 31 May were Bennelong Concentrated (20.9 per cent), Lazard Select (19.2 per cent), and Macquarie High Conviction (18.8 per cent).
Regarding the best-performing international share fund managers, Pinnacle topped the list, recording a return of 44.1 per cent over the year.
Carnegie and Pinnacle High Alpha followed at 37.5 per cent and 36.3 per cent respectively.
According to the report, Australian listed property “provided the stand-out performance” among asset classes throughout the year, recording a 29.7 per cent return.
Global shares followed at 29.2 per cent, with global listed property returning 14.8 percent, and Australian shares returning 9.9 per cent.
Industrials were the strongest performing sector – at 5.4 per cent – within the Australian share market over the month to 31 May.
Consumer staples (2.1 per cent), financials (-1.0 per cent) and telecommunications services (-0.2 per cent) were the worst performing sections throughout May, said Morningstar.