In the research house’s December 2016 Listed Managed Investments Quarterly Review, Independent Investment Research (IIR) found that in the 12 months to 31 December, the Australian equity market was up 11.8 per cent, driven by a 6.6 per cent gain in the S&P/ASX50 Accumulation Index in the last quarter of the year.
These gains contrasted a decline in returns among small cap stocks, IIR noted.
Small caps, in contrast, “continued to give up some of their gains from earlier in the year, with the ASX Small Ordinaries Accumulation Index down 2.5 per cent for the quarter”, the company said, though over 12 months these stocks still outperformed, with the index up 13.2 per cent.
“Resources stocks continued to help drive the market with the S&P/ASX 200 Resources Accumulation Index up 7.9 per cent for the quarter, and a massive 42.9 per cent for the 12 months to 31 December 2016,” IIR said.
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