POWERED BY MOMENTUM MEDIA
ASX records sixth month of declines
The Australian share market may have declined for the sixth month in a row during February, but it still remained a better place to be invested in than international equities.
That is the bottom line of the latest Mercer Sector Surveys report, which stated that the local share market had remained under pressure during February but still managed to outperform its international counterparts.
The report said the local index’s performance was attributable to some solid reporting performances by local companies, the Federal Government’s $4.2 billion stimulus package and aggressive rate cuts by the Reserve Bank.
However, it also revealed that investors were seeking to remain in blue chip territory, with mid-cap and small cap stocks underperforming their large cap counterparts.
Energy stocks were the place to be during February, rising by 2.8 per cent, while proof that the stimulus package was gaining traction was provided by the consumer staples index, which fell just 0.1 per cent.
Property trusts remained problematic in February, down 16.4 per cent.
AUTHOR
Mike Taylor
Recommended for you
“Slow and steady” appears to be the Reserve Bank’s approach to monetary policy as the board continues to hold on to its wait-and-see method.
AFCA’s latest data has shown a decline in complaints relating to superannuation, but there is further work to be done, it has warned super funds.
Limited exposure to fossil fuel companies has positively impacted the performance of Australian Ethical’s balanced and growth funds, the super fund says.
The major bank has announced that real-time super payments will soon be available to all QuickSuper employers ahead of the looming payday super regime.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom 465 Calder Road Calder
99.46 3 y p.a(%)
2
DomaCom DFS Mortgage
95.46 3 y p.a(%)
3
Global X 21Shares Bitcoin ETF
78.55 3 y p.a(%)
4
BetaShares Crypto Innovators ETF
50.39 3 y p.a(%)
5
Global X GlobalX FANG+ ETF
47.50 3 y p.a(%)
