The average annual rate of return net of fees and tax has jumped to 11.3% for the master trust funds surveyed. This is 3% pa over the rate reported last quarter. Although inflation has risen to 3% it is a superb real rate of return.
The range of returns was also spectacular. There was generally a reward for increased risk with the growth funds averaging 15%, the balanced funds 11% and the conservative funds almost 6%. The best return for the year was 32.90% and the worst 2.8%.
Once again international equities performed extremely well coupled with a further fall in the exchange rate. Growth managers are still out-performing value managers but some stock-pickers with a value style came back reasonably well.
Tower, Colonial (formally Prudential) and the Global Retirement Trust are the fastest growing funds. The Global Retirement Trust predominately services publicsSector employers, but has very competitive fees and a range of individual member options as well.
Master Trust Survey
Results to 30 September 2000
|
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 |
|
|
|
|
|
|
|
|
Colonial International Equities |
0.8 |
32.9 |
22.8 |
15.3 |
14.3 |
13.1 |
|
|
AMP High Equity |
125.2 |
20.3 |
20.9 |
12.6 |
13.9 |
12.2 |
531 |
|
Colonial Special Values |
6.1 |
19.7 |
13.6 |
8.5 |
10.0 |
10.0 |
|
|
Jacques Martin Growth Fund |
48.1 |
18.5 |
18.2 |
11.9 |
12.6 |
11.4 |
122 |
|
Tower BT Managed Growth |
1.9 |
14.6 |
11.7 |
7.4 |
9.1 |
9.1 |
30 |
|
GRT Individual Retirement Plan Growth |
8.8 |
14.2 |
15.4 |
9.9 |
11.1 |
10.0 |
|
|
Tower BNZ Dynamic Growth |
0.4 |
13.6 |
8.3 |
|
|
|
6 |
|
WestpacTrust Dynamic |
218.4 |
12.4 |
10.7 |
7.7 |
8.7 |
7.6 |
|
|
Jacques Martin Asset Growth |
15.8 |
12.3 |
9.8 |
|
|
|
122 |
|
Tower Focus International Shares |
16.3 |
12.1 |
13.0 |
9.9 |
12.5 |
11.4 |
145 |
|
Colonial Australasian Equities |
0.2 |
12.1 |
14.6 |
2.5 |
5.7 |
5.8 |
|
|
Tower Focus NZ Shares |
4.7 |
10.6 |
13.8 |
2.6 |
6.6 |
7.6 |
140 |
|
Tower ANZ Growth |
0.8 |
9.0 |
5.5 |
|
|
|
19 |
|
All Growth Funds |
447.4 |
15.4 |
14.6 |
9.7 |
10.8 |
9.6 |
|
|
Balanced Funds |
|
|
|
|
|
|
|
|
AXA NZ Spread Managers |
69.7 |
16.2 |
11.0 |
6.6 |
9.0 |
7.8 |
|
|
Colonial Balanced Growth |
12.7 |
16.0 |
11.6 |
7.6 |
8.5 |
8.4 |
|
|
AMP Balanced |
351.3 |
13.2 |
12.4 |
8.4 |
9.6 |
8.8 |
684 |
|
AMP BT |
24.5 |
13.0 |
10.5 |
6.7 |
8.3 |
8.4 |
319 |
|
AXA NZ Managed |
30.3 |
10.7 |
10.4 |
5.3 |
8.3 |
7.0 |
|
|
Tower BNZ Balanced Growth |
1.1 |
10.4 |
6.1 |
|
|
|
12 |
|
Armstrong Jones SIL Balanced |
381.6 |
10.3 |
10.2 |
8.3 |
10.0 |
9.7 |
21 |
|
Jacques Martin Balanced |
100.1 |
10.2 |
9.6 |
7.4 |
8.3 |
7.8 |
122 |
|
GRT Individual Retirement Plan Balanced |
16.9 |
10.2 |
10.4 |
7.9 |
8.9 |
8.2 |
|
|
Royal & Sun Alliance Managed Fund |
|
10.1 |
9.8 |
6.8 |
8.4 |
7.8 |
|
|
WestpacTrust Balanced |
370.4 |
9.9 |
8.9 |
6.6 |
7.3 |
6.5 |
|
|
AMP ANZ Balanced |
58.3 |
8.7 |
9.3 |
6.2 |
7.6 |
7.6 |
430 |
|
AXA NZ Balanced |
27.3 |
8.2 |
8.2 |
4.6 |
7.4 |
6.6 |
|
|
Tower Investment Linked |
85.0 |
7.9 |
7.3 |
6.6 |
8.3 |
8.0 |
190 |
|
Tower ANZ Market Balanced |
0.2 |
6.7 |
4.3 |
|
|
|
19 |
|
AMP AJ Balanced |
2.8 |
|
|
|
|
|
77 |
|
All Balanced Funds |
1,532.2 |
11.0 |
10.2 |
7.4 |
8.8 |
8.2 |
|
|
Conservative Funds |
|
|
|
|
|
|
|
|
Jacques Martin Capital Stable |
43.8 |
8.4 |
7.2 |
6.7 |
7.1 |
6.8 |
122 |
|
AMP Capital Stable |
42.7 |
7.9 |
7.1 |
5.7 |
6.4 |
6.3 |
252 |
|
AXA NZ Low Risk |
24.1 |
7.7 |
7.2 |
4.4 |
6.9 |
6.6 |
|
|
GRT Individual Retirement Plan Stable |
2.7 |
7.1 |
6.4 |
6.3 |
7.1 |
6.7 |
|
|
Colonial Conservative |
3.0 |
4.9 |
4.5 |
4.4 |
4.4 |
4.6 |
|
|
AMP Capital Assured |
38.7 |
4.6 |
4.7 |
4.9 |
4.9 |
4.7 |
227 |
|
Jacques Martin Cash Management |
5.6 |
4.5 |
3.0 |
4.0 |
4.5 |
4.7 |
122 |
|
Tower Focus Fixed Income |
4.5 |
4.1 |
2.8 |
4.3 |
5.4 |
5.2 |
103 |
|
Royal & Sun Alliance Deposit Fund |
|
4.0 |
3.7 |
4.2 |
4.5 |
4.7 |
|
|
Tower ANZ Capital Stable |
0.1 |
3.8 |
2.9 |
|
|
|
2 |
|
Tower Focus Cash |
2.8 |
3.6 |
3.2 |
3.8 |
4.2 |
4.6 |
97 |
|
AXA NZ Capital Protected |
23.6 |
3.5 |
4.0 |
4.2 |
4.2 |
4.2 |
|
|
WestpacTrust Accumulation |
48.8 |
3.1 |
3.5 |
4.4 |
4.5 |
4.6 |
|
|
Tower BNZ Conservative |
|
3.0 |
1.8 |
|
|
|
3 |
|
Colonial Global Fixed Interest |
0.3 |
2.8 |
2.3 |
4.6 |
5.3 |
5.8 |
|
|
All Conservative Funds |
240.5 |
5.8 |
5.4 |
5.1 |
5.6 |
5.5 |
|
|
Total Funds |
2,220.2 |
11.3 |
10.6 |
7.6 |
8.8 |
8.2 |
|
|
Cash Benchmark (Net) |
|
4.2 |
3.6 |
4.2 |
4.6 |
4.9 |
|
|
CPI |
|
3.0 |
1.2 |
1.4 |
1.3 |
1.5 |
|
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