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Blog

July 22nd, 2014
One swallow does not a summer make by Daniel Martinez

Recently, I was having a look at the best and worst performing Australian share managers last financial year (i.e. FY 2013/14)

Firstly the facts:

  • The manager that topped the list came in 120th in FY 2012/13.
  • The managers that came in second, third and fourth came in 139th, 135th and 134th in FY 2012/13 respectively
  • A manager that finished in the bottom five worst performing managers in FY 2013/14 finished in the top 10 in FY 2012/13

These types of turnarounds are not unique to Australian shares. They apply to every asset class.

What is this telling me?

  • It is very, very difficult to consistently beat the benchmark let alone your competitors.
  • 12 months is not long enough to judge the quality of a fund manager
  • Don’t chase returns.
  • Don’t automatically think that higher management fees equates to higher performance.

Bye for now

Dan’s Corner

Source: The Australian Financial Review July 17, 2014 Jessica Sier

 

 

 

 

 

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