The Morningstar Australian Institutional Sector survey, released yesterday, found Australian share fund managers posted "sound" results for May 2016, with the median manager returning 3.8 per cent for the month.
The median figure was down 0.3 per cent over the year to 31 May 2016, although this was ahead of the S&P/ASX 300 index's return of -2.1 per cent, said Morningstar.
The best performing Australian share strategies over the year were the Bennelong Concentrated fund (up 24.6 per cent for the year), Macquarie High Conviction (17.7 per cent) and Wilson Asset Management's Australian shares funds (16.1 per cent).
Global fund managers did better than Australian funds in aggregate over the year to 31 May 2016, with the median manager returning 1.1 per cent on an unhedged basis.
The median Australian property securities manager was up 15.6 per cent over the year to 31 May 2016, slightly above the index return of 15.3 per cent.
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