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Colonial First State (CFS) has significantly expanded its FirstChoice menu, adding a range of ETF exposures, fixed interest, and sustainability strategies.
The index returned 28.5% during the financial year and managers in the top quartile returned 33.4% while those in the lower quartile returned 27.2%. The median for the 137 funds was 30.5%. The best fund was Forager Australian Value which returned 89% followed by Collins St Value and First Sentier Australian Equities Geared-Growth which returned 88.5% and 80% respectively. Those funds which had performed below-median were mostly in the low volatility space such as AB Managed Volatility Equities and Acadian Australian Equity Managed Volatility. However, when looking at performance over the thre...
This was particularly targeting those investors who were retirees or were approaching retirement and needed reduced exposure to market drawdowns. Vic Jokovic, chief executive of Chi-X Australia, said: “A challenging global investment landscape, including historically unusual policy settings and unforeseen events such as COVID-19, have added to the risks that Australian investors face. We are pleased to welcome AllianceBernstein and AMVE on to Chi-X. This adds to a growing list of Active ETFs on our platform that aim to deliver greater diversity to the portfolios of Australian investors”. ...