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Investment News

Eriksen's Master Trust Survey

Tuesday, August 7th 2001, 10:05AM
Eriksen's Master Trust Survey
Results To 30 June 2001

Economic Commentary
In the US the slowing economy and Bush’s tax cuts have combined to shrink the likely Government surplus, allowing the Democrats to use their control of the Senate to limit Republican spending. Earnings forecasts are still dropping despite six rate cuts in the year to mid July which are unprecedented. Meanwhile inventories rise and sales fall.

Poor company results in the US and elsewhere are resulting in job cuts and the possibility of recession. Computer hardware and software companies have been especially affected. Oil prices have fallen but OPEC is considering further restrictions on oil supplies to keep prices around $25 per barrel. Oil prices are having a major impact by slowing global growth. The US economic machine continues to move forward but is still slowing down despite Alan Greenspan’s aggressive actions.

Another problem in the US has been the slowdown in company capital spending, following the spending boom during the late 1990’s. Consumer spending has held up remarkably well. We believe a global recession is likely over the next six to eighteen months.

New Zealand and Australia have been largely unaffected by the downturn in the Northern Hemisphere so far. We are still benefiting from the export gains produced by soft currencies. Inflation in both countries has increased. New Zealand has been affected by the higher cost of imports, food price increases and structural changes from Government policy changes.

Fund Name

Fund Size

Annual Returns (Net of Tax & Expenses)

No of
 

$ million

1 Year

2 Year

3 Year

4 Year

5 Year

Employers
Growth Funds
Tower Focus NZ Shares

60.9

7.0

7.3

9.1

4.3

7.7

253
Jacques Martin Asset Growth

14.7

3.6

6.1

6.7

246
Tower ANZ Growth

1.5

0.9

4.6

3.9

250
Sovereign ESP Special Values

4.3

0.8

6.2

6.3

6.2

8.1
Tower BNZ Dynamic Growth

1.1

-1.2

4.1

4.0

250
GRT Individual Retirement Plan Growth

10.3

-3.2

3.4

5.9

6.4

7.9
WestpacTrust Dynamic

206.6

-3.3

3.4

5.0

5.4

6.3
AMP High Equity

128.8

-6.1

2.9

6.0

7.0

8.6

528
Tower Focus International Shares

21.6

-6.4

-0.4

1.0

5.9

7.8

257
All Growth Funds

452.7

-2.6

3.7

5.7

5.8

7.3
 
Balanced Funds
Tower Investment Linked

382.0

3.4

4.2

4.5

6.0

7.3

296
Sovereign ESP Balanced Growth

10.6

3.0

6.4

6.8

5.7

7.5
AMP ANZ Balanced

55.1

2.9

3.6

5.9

5.1

6.7

401
Tower BNZ Balanced Growth

2.4

0.9

4.2

3.5

250
Tower BT Managed Growth

18.9

0.5

6.4

6.7

5.6

7.3

250
Jacques Martin Balanced

97.0

0.5

3.9

5.5

5.5

6.7

246
AMP BT

30.6

0.1

5.3

5.8

5.0

6.5

343
Sovereign SERP Balanced

4.2
AXA NZ Managed

27.4

-0.2

4.2

5.4

6.0
GRT Individual Retirement Plan Balanced

18.4

-0.9

3.2

5.0

5.5

6.8
WestpacTrust Balanced

346.6

-1.3

3.5

4.7

5.0

5.6
AMP Balanced

371.5

-1.5

3.2

4.9

5.5

6.8

655
AXA NZ Balanced

20.7

-1.6

2.5

4.1

5.2
Planit Plans Diversified

31.5

-2.4

2.1

4.6
ASB Funds Management Balanced

-3.2

3.8

6.2

6.3

7.7
Armstrong Jones SIL Balanced

332.7

-3.3

2.5

4.6

5.6

7.4

21
AMP AJ Balanced

7.3

-3.6

133
AXA NZ Spread Managers

66.1

-4.1

4.0

5.1

5.8
Jacques Martin Growth Fund

53.8

-5.7

3.8

6.6

6.8

8.2

246
All Balanced Funds

1,963.9

-0.7

3.5

4.9

5.1

6.6
 
Conservative Funds
Tower Conservative

21.9

6.4

6.9

5.2

250
Jacques Martin Cash Management

4.4

5.6

4.6

3.9

4.4

4.7

246
AMP Capital Assured

39.3

5.3

5.0

5.0

5.0

5.0

210
WestpacTrust Accumulation

42.3

4.6

3.7

4.1

4.4

4.7
Tower Focus Cash

10.0

4.0

3.6

3.5

3.8

4.3

259
Tower Focus Fixed Income

15.7

4.0

3.5

4.1

4.2

5.6

257
AXA NZ Capital Protected

19.6

3.8

3.8

4.1

4.2
Sovereign ESP Conservative

2.9

3.7

3.3

3.8

4.3

4.4
AXA NZ Low Risk

19.6

2.3

4.2

5.0

5.6
GRT Individual Retirement Plan Stable

3.0

1.7

3.5

4.5

5.0

6.1
AMP Capital Stable

39.5

1.6

3.3

4.3

4.4

5.3

231
Jacques Martin Capital Stable

40.3

1.3

4.0

4.9

5.2

5.9

246
All Conservative Funds

292.2

3.6

4.1

4.5

3.9

5.1
 
Total Funds

2,708.8

-0.5

3.6

5.0

5.1

6.6
 
Cash Benchmark (Net)

4.3

4.1

3.8

4.3

4.6
CPI

3.2

2.6

1.6

1.6

1.5

 

1. The above table excludes some surveyed funds due to space limitations. Excluded funds are generally those closed to new members; or having less than $1.0 mill invested. A separate edition in Adobe Acrobat (.pdf) format contains all of the funds surveyed. The full edition can be downloaded from www.eriksens.co.nz.

  1. The weighted results shown above include all funds surveyed, not just those shown above.

3. This survey has been compiled from publicly available sources and information from the respective Master Trust providers. Investment decisions or comparisons should not be based on past performances in isolation from other factors. Eriksen & Associates accepts no liability for any errors herein, or any decisions made as a consequence of the information shown.

 

© Eriksen & Associates Ltd, 2001 All rights reserved.
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Today's Best Bank Rates
RaboDirect 4.60  
Based on a $50,000 deposit
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Cash PIE Rates

Cash Funds

Institution Rate 33% 39%
ANZ 2.60    2.67    2.79
ASB Bank 3.15    3.29    3.44
BNZ 3.70    3.44    3.60
Direct Broking Call Account 2.80    2.92    3.05
Heartland Bank 4.00    4.28    4.48
Kiwibank 2.40    2.50    2.61
Kiwibank 3.15    3.29    3.44
Nelson Building Society 3.75    3.90    4.08
RaboDirect 3.30    3.44    3.60
SBS Bank 3.25    3.11    3.28
TSB Bank 3.50    3.63    3.80
Westpac 3.15    3.24    3.39
Westpac 0.10    0.10    0.11
Westpac 4.00    4.18    4.37

Term Funds

Institution Rate 33% 39%
ANZ Term Fund - 90 days 3.00    3.08    3.22
ASB Bank Term Fund - 90 days 3.00    3.08    3.22
ASB Bank Term Fund - 6 months 3.75    3.85    4.02
ASB Bank Term Fund - 12 months 4.00    4.18    4.37
ASB Bank Term Fund - 18 months 4.10    4.28    4.48
ASB Bank Term Fund - 2 years 4.20    4.40    4.59
ASB Bank Term Fund - 5 years 5.00    5.25    5.49
ASB Bank Term Fund - 9 months 4.00    4.18    4.37
BNZ Term PIE - 120 days 3.70    3.58    3.75
BNZ Term PIE - 150 days 3.70    3.38    3.53
BNZ Term PIE - 5 years 5.50    5.58    5.83
BNZ Term PIE - 2 years 4.80    4.60    4.81
BNZ Term PIE - 18 months 4.60    4.40    4.59
BNZ Term PIE - 12 months 4.50    4.18    4.37
BNZ Term PIE - 9 months 4.35    3.97    4.14
BNZ Term PIE - 6 months 4.30    3.97    4.14
BNZ Term PIE - 90 days 3.50    3.08    3.22
Co-operative Bank PIE Term Fund - 6 months 4.00    4.11    4.30
Heartland Bank Term Deposit PIE - 12 months 4.60    4.54    4.74
Kiwibank Term Deposit Fund - 90 days 3.30    3.38    3.53
Kiwibank Term Deposit Fund - 6 months 3.75    3.85    4.02
Kiwibank Term Deposit Fund - 12 months 4.10    4.20    4.41
Kiwibank Term Deposit Fund - 150 days 3.60    3.70    3.86
Kiwibank Term Deposit Fund - 120 days 3.30    3.38    3.53
RaboDirect Term Advantage Fund - 12 months 4.00    4.11    4.30
RaboDirect Term Advantage Fund - 6 months 3.85    3.96    4.14
RaboDirect Term Advantage Fund - 90 days 3.25    3.34    3.49
Westpac Term PIE Fund - 150 days 3.50    3.34    3.49
Westpac Term PIE Fund - 120 days 3.50    3.34    3.49
Westpac Term PIE Fund - 18 months 4.50    4.32    4.51
Westpac Term PIE Fund - 12 months 4.20    3.96    4.14
Westpac Term PIE Fund - 6 months 3.75    3.86    4.03
Westpac Term PIE Fund - 9 months 3.80    3.90    4.08
Westpac Term PIE Fund - 90 days 3.00    3.09    3.22
Westpac Term PIE Fund - 2 years 4.75    4.52    4.72
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